Political Quotes

“I just had a chance to hear my colleague from Nevada talk a little bit about the importance of the tax cuts and tax reform that this Chamber passed at the end of the year and that is now in effect. All I can say to my constituents is, this is the last year you are going to have to file under the old code. You will have the new code next year. Why is that important? Because it is simpler. It doubles the standard deduction, as an example, which is a great simplification for a lot of taxpayers. It also takes about 3 million people off the tax rolls altogether. Think about that. According to the Joint Committee on Taxation, over 3 million Americans, who currently have income tax liability, will no longer have it under this new tax reform bill. Why? Because it focuses on lowering the rates, doubling the standard deduction, and doubling the child tax credit. That helps people who are lower income Americans, who right now have tax liabilities and will not in the future. So it will be easier for a lot of people a year from now because they will have no tax-filing debate because they will not have any tax liability, and for others, it is just a simpler form. What is already happening this year is that the paychecks are changing. Why? Because the IRS is saying the employees are going to get more money in their paychecks because the employers are going to withhold less as we go into 2018 because the tax proposals went into effect at the beginning of this year.…”