Political Quotes

“the Senate Finance Committee is working this week on the Tax Cuts and Jobs Act. It is a very important piece of legislation that the country is looking forward to having passed. This is a Republican plan to give tax relief to the American people. Just as the name of the legislation says, it actually addresses both issues: tax cuts and jobs. First of all, the legislation will cut the taxes for American workers. One of the biggest cuts in the plan is that it roughly doubles the standard deduction that people take. Right now, the standard deduction for a married couple is about $12,000. If we double it, people will not pay any Federal income taxes at all on the first $24,000 they earn. That is a big tax cut. It is aimed squarely at lower income and middle-income families in this country. A lot of people will decide to take this deduction instead of going through the painstaking process of itemizing deductions on their income tax returns. It saves people a lot of time. It also saves them the cost of accountants and lawyers who help them figure out the complicated taxes that they end up paying in this country each year. Republicans are also working to preserve other deductions that are important to American families. When we put all of these together, we are going to cut taxes for people and put money back in their pockets instead of sending it to Washington.…”