On Wednesday, Republicans unveiled in their unified framework for tax reform that is focused on delivering more jobs, fairer taxes, and bigger paychecks for the American people. While speaking at the Heritage Foundation on Thursday, Ways and Means Chairman Brady (R-TX) explained exactly how the framework helps low- and middle-income Americans by reducing tax rates and allowing them to keep more of their hard-earned paychecks.

As Chairman Brady said: 

“Following the lead of President Reagan, we flatten out the tax brackets from seven to three. We lower the taxes at every level and we preserve more of the first dollars that every American earns. All of that is incredibly helpful for families trying to keep more of what they earned — all the rates go down.

“The elevator goes down at every rate. For example: the 15% bracket today goes to 12%, the 10% bracket today goes to 0%. Just as President Reagan did. He lowered the 11% bracket and made it 0%. Their next level was a little higher, 15%, ours is lower, which means those with a modest income – the poor, the middle class – are better off under the tax reform plan we bring forward.

“And just to be clear, so if I hear any more Democrats talking about, ‘the bottom rate is going up,’ I’ll remind them they may want to contact Vice President Joe Biden, Vice President Al Gore, perhaps Secretary John Kerry, because they voted with President Reagan to lower that 11% rate to 0%, just as we’re lowering the 10% rate to 0% as well.”

The Ways and Means Committee is committed to using this unified framework to fundamentally transform the U.S. tax code, providing real relief to American workers, middle-class families, and Main Street job creators.