Armstrong Williams: "Passing tax reform is a task that shouldn't be taxing"
“It is incumbent upon our legislators to reconcile the [tax reform] bills, and allow every hard-working American taxpayer to keep more of what they earn.”
Passing tax reform is a task that shouldn’t be taxing
By Armstrong Williams
The Hill
December 12, 2017
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Republicans in Congress are seeking to ease the overwhelming burden on taxpaying Americans with the Tax Cuts and Jobs Act. Passing this bill and signing it into law is of paramount importance.
The $1.5 trillion tax overhaul package passed the House of Representatives on Nov. 16, and the Senate passed its version Dec. 2. It is now time for the two versions to be reconciled so the bill can be sent to the desk of President Trump, signed into law and put to work for the benefit of the American people.
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The Tax Policy Center released a brief on the Senate’s version of the bill that estimates that the legislation will reduce taxes, on average, for every single income group.
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For businesses, this tax reform bill is a clear win. The bill will by 2019 permanently cut the corporate tax rate from its current exorbitant rate — up to 35 percent — to a much more reasonable 20 percent.
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The Tax Foundation, an independent think tank that analyzes tax policy, projects that over the next 10 years these corporate tax cuts could lead to almost one million new jobs.
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In other words, if you oppose this bill, then you are opposing job growth and an expanding American economy.
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The middle class stands to benefit greatly as well. Firstly, the proposed tax code will be much more streamlined, simplifying the current convoluted process for the millions of hard-working Americans who struggle with the tax code year in and year out.
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When taxes go down for American corporations, the American economy reaps direct benefits. When taxes go down for the American people, our citizens reap direct benefits. This bill accomplishes both, and it boasts the additional benefit of simplifying the tax code.
When the Senate voted through the Tax Cut and Jobs Act, America moved one step closer to achieving a revamped tax system that actually makes sense and helps everyone. Now it is incumbent upon our legislators to reconcile the bills, and allow every hard-working American taxpayer to keep more of what they earn.
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