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Pro-Family Tax Reforms That Help All Americans

November 08, 2017

Today, the Ways and Means Committee continued its work to advance H.R. 1 – the Tax Cuts and Jobs Act. Today’s work made clear that the reforms being offered in our bill put families first, giving them certainty as they plan for their future and for their children’s future:

Rep. Diane Black (R-TN):

“To be able to have a single American Opportunity Tax Credit (AOTC), as well as 529’s, that will help the everyday American family be able to take true advantage of what’s in that Tax Code, not have to go through all this complication, and get something simplified that the American families can actual use. … I’m very proud of what we’re doing because it is giving people an opportunity to truly use what’s in the code.”

Rep Mike Bishop (R-MI):   

“If you look at the big picture … average families benefit by this plan over the previous.”

Rep. Kristi Noem (R-SD):

“I like the changes we’ve made to the 529 plan. They are tax free, qualified distributions that we’ve expanded to be used for apprenticeships, elementary education costs, also we’ve used them for the ability for families to be able to save for the unborn. … Now families can plan for that child from the moment of being in utero so they can start saving for whatever education costs that they may have.”

Rep. Erik Paulsen (R-MN):

We’re allowing any family to make sure they’re having more money in their pocket to save for the future, to pay off a student loan, but also to save for their retirement.” 

Rep. Dave Reichert (R-WA):

This is supposed to be focused on strengthening families and their communities. And that’s where we need to put our energies.”

Rep. Adrian Smith (R-NE):

“As families face these month-to-month expenses, let’s look at that. How can we help them? To me, the best way to help them is to expand the economy, create more jobs. … That dynamic of a growing economy that can create opportunity and a brighter financial future for folks all across the country, rather than having to check in with politicians on various wages and other dynamics.”

Rep. Tom Rice (R-SC):

“What our bill offers is opportunity. What our bill offers is a future for our children and our grandchildren. And I am proud to be a part of it.”

Rep. Carlos Curbelo (R-FL):

“Do we want a tax code that has the special and small benefits for many small groups of Americans, or do we want a tax code that benefits all Americans and treats all Americans fairly? … That’s the debate that we’re having here, and I truly hope that we would choose that simple tax code, that fair tax code.”

The Ways and Means Committee will continue to mark up the Tax Cuts and Jobs Act tomorrow, beginning at 9:00 AM ET.