Political Quotes

“today I wish to speak about the important legislation we are now considering. Earlier this week, I explained some of the reasons the Senate needs to consider tax reform legislation and gave a general overview of the bill. Today I want to talk about some of the specific provisions of the bill. First, I want to talk about the relief this bill provides to hard- working Americans. The Tax Cuts and Jobs Act reduces tax rates for individuals, almost doubles the standard deduction, and doubles the child tax credit. This will allow families to keep more of the money they earn in their pockets. The independent Tax Foundation estimates that this will amount to about $2,500 more in after-tax income for a middle-income family in Wyoming. This bill also will provide relief to small, family-owned businesses that currently employ the majority of the private sector in Wyoming. The bill cuts taxes for these businesses while enhancing deductions that are important to them, like the section 179 deduction that promotes business investment. The Tax Foundation believes changes like this will add more than 1,700 full time jobs in my home State. While these individual Tax Code provisions are important to so many Wyomingites and small businesses in my home State, I am also especially proud of the international tax provisions in this bill, which I worked on with Senator Portman and Chairman Hatch.…”