U.S. Rep. McSally on the Tax Cuts and Jobs Act: Americans Need Tax Relief
WASHINGTON, DC–U.S. Representative Martha McSally today released the following statement on the introduction of the Tax Cuts and Jobs Act, legislation to overhaul the American tax code for the first time in 31 years and deliver historic tax cuts for Americans:
“There is no question that we need to cut taxes. Our complex, burdensome, and outdated tax code is binding the hands of hardworking Americans and holding them back.
The plan we unveiled today to cut taxes will give Americans a break. We need to cut our corporate tax rate from the highest in the industrialized world so American companies can compete and more jobs stay here. It’s time we reduce small business rates and simplify the code so job creators can redirect their resources into running their business, hiring more people and paying them bigger paychecks. We need to help struggling families afford child care and keep more of their hard-earned dollars so they can make ends meet, save for retirement, and put their kids through college. Americans need tax relief.
Under this plan, a family of four living in Sierra Vista and making $59,000 per year will get a $1,184 tax cut. A single mother working at a local restaurant in Tucson and making $30,000 a year to support herself and her daughter will get a tax refund of $1,000—that's $700 more than she receives today. Small business with less than 50 employees will be taxed at no more than 25%—the lowest marginal rate since World War II.
Americans deserve a tax code that is transparent, fair, and simple. This is the moment to move forward on deep tax cuts—and we need to seize it.”
To read the full bill, click HERE.
For summary materials, click HERE.