This Tuesday was Tax Day – it was also the last time that millions of Americans will have to file under the old, broken tax code. With lower rates, a nearly doubled standard deduction, and a doubled child tax credit – you can finally keep more of your hard-earned money. You will also finally have freedom to choose the health care that’s right for you, not what the government chooses for you.
All of the hours you have spent doing your taxes will be a thing of the past with a simpler, quicker, and more straightforward way to file. Your time is money, and it’s time you get both back.
In the morning, Becky Quick and Joe Kernan joined Chairman Kevin Brady (R-TX) and Majority Leader Kevin McCarthy (R-CA) live from the U.S. Capitol for a special Tax Day edition of CNBC’s Squawk Box.
On Growth, New Investments, and Jobs
Brady: “Really, as remarkable as the early signs have been on growth, and new investments, and jobs coming back – the best is yet to come. Because this was really redesigned to leapfrog America to the lead pack as one of the best places on the planet for that next new plant, new facility.”
On Redesigning, Refocusing, and Reining in the IRS
Brady: “We require the IRS to bring us back a new restructuring of the whole agency within a year and a half. We redesign their whole IT system so that they can protect our personal, private tax information better. And then we really create a truly independent appeals process that puts taxpayers on the same level as the IRS in these disputes so they can be resolved more affordably and more quickly.”
On Tax Reform Phase Two
Brady: “You know what this really is – phase two – is about changing the culture in Washington where we do reform every thirty years and in between we just do special interest breaks. It’s really about – like our local businesses – we know our competitors aren’t standing still. So it’s really about…asking how can we be more competitive as a country, how can we be more innovative, how can we be more family friendly through the tax code.”
And in the evening, Chairman Brady stopped-by Fox News’ Special Report with Bret Baier.
On Tax Day, and Looking Forward to the New Tax Code
Brady: “I hate Tax Day, and I think most families do… The good news is this is the last time Americans will file their taxes under that old, complicated, unfair tax code. Going forward, it will not just be simpler – families will keep more of what they earn, Main Street businesses will keep more of what they earn, and we’ve redesigned it so our U.S. companies can compete anywhere in the world.”
On Making the Individual Tax Cuts Permanent
Brady: “We made them long-term for families, for small businesses – but because of Senate rules, we weren’t able to make them permanent. We think one of the provisions in phase two should be to make them permanent, but more than that, really trying to change the culture in Washington instead of waiting thirty years and falling far behind our competitors worldwide.”