Political Quotes

“I thank the chairman for his leadership and for moving this bipartisan legislation forward. This is really a necessary step to ensuring that more Americans can save for retirement. I also commend the chairman for his swift action to redress the harsh tax rate and unintended consequences caused by the Tax Cuts and Jobs Act of 2017 on Gold Star families, low-income children, and young adults who receive payments from Tribal governments. Our special tax rules on unearned income of children and young adults to prevent wealthy families from engaging in tax planning to artificially lower their tax burden, of course, is not relevant to these payments made to Gold Star families, survivor benefits, and Tribal children. The 2017 rate repeal only partially addressed an underlying problem where additional legislation is required relative to Tribal youth. Mr. Estes and I introduced bipartisan legislation, H.R. 2018, to fix the underlying problem of the kiddie tax on taxable disbursements made by Tribal governments. So, Madam Speaker, I ask the chairman to tell Members of this Chamber and the Tribes who are watching closely throughout the country what his intentions are relative to the underlying problem with the kiddie tax.”