Michael Burgess: “I recently listened to many of our friends on the other side of the aisle characterize the tax cuts as misdirected and…”

“I recently listened to many of our friends on the other side of the aisle characterize the tax cuts as misdirected and targeted to the wrong people. According to the Joint Economic Committee, the new tax bill provides the largest percentage reductions in the income taxes of low- and middle-income groups, thereby shifting the tax burden upward. Low-income families in particular benefit from this economic growth and tax relief package through a number of provisions, including increasing the child tax credit to $1,000. Even families who do not owe taxes may benefit from the tax credit because of the current refundable feature of the credit. Let us not forget that this group of low-income taxpayers received significant benefit from the tax cuts that passed in 2001, and they continue to benefit from this legislation today. Mr. Speaker, we cannot continue to punish those who work hard, take risks, and are successful. We need the success of those individuals for the economy to recover. The country needs the jobs that their success will generate.”