“Republicans have a strong record of bringing relief to American families and businesses. In 2017, we passed the most comprehensive overhaul of our tax code in more than three decades,” writes Ways and Means Member Rep. Vern Buchanan (R-FL) in a new op-ed for Townhall. “The Tax Cuts and Jobs Act (TCJA) reduced taxes on middle-class families and small businesses nationwide and created nearly 5 million jobs in two years.”
Families and workers are suffering under Biden’s cruel economy from historically high prices, a labor shortage, and increased taxes.
Republicans’ Commitment to America is focused on making tax reform permanent, which means Americans can keep more of their hard-earned money.
Democrats’ policies are harming families and workers with crippling tax hikes, worsening inflation, and a devastating labor shortage.
- “The radical left wants to keep taxes high to fuel the Washington spending machine. They oppose my bill to let people keep more of their own hard-earned money. If we do nothing, taxes for families and small businesses will go up in 2026.”
- “President Biden’s incompetent handling of the economy has produced historic levels of inflation, including high food prices, unaffordable housing and soaring energy costs. Rising prices are outpacing wage growth, forcing many people to take on second jobs and tap their retirement savings.”
- “Democrats’ reckless multi-trillion-dollar, deficit-financed Washington spending spree has fueled inflation and harmed families.”
The Tax Cuts and Jobs Act is historic, pro-worker and pro-growth tax reform. The future expiration of key TCJA provisions puts our economic edge at risk.
- “Most importantly, the TCJA Permanency Act keeps in place today’s tax rates for individuals and families and preserves the 20 percent deduction for small businesses. Together, these provisions ensure that taxes won’t go up for middle-class Americans – allowing people to keep more of their hard-earned money.”
- “As my colleague House Ways and Means Committee Republican Leader Kevin Brady (TX) recently said, this legislation will ‘lock in low taxes for families and small businesses struggling with record inflation.’ That’s a much-needed change from the disastrous policies of the last two years.”
- “According to the Tax Foundation, a single mom of two earning $52,000 a year would face a $1,500 tax increase and a married couple with two children and $85,000 in income, would be hit with an additional $1,700 in taxes if these provisions expire.”
- “For small businesses, the TCJA Permanency Act provides the tax certainty needed to make costly investments in items with long productive lives, like equipment and machinery. That will help tame inflation by giving manufacturers the ability to increase production to meet soaring demand.”
Republicans’ Commitment to America means a stronger economy.
- One of the central tenets of the Commitment to America is “an economy that’s strong” – one where families benefit from increased take-home pay, good-paying jobs, and stability through pro-growth tax and deregulatory policies.
- Republicans’ Tax Cuts and Jobs Act helped all Americans by reducing the federal tax rates for households across every income level, while increasing the share of taxes paid by top earners.
- Ways and Means Republicans will make permanent the very tax reform that succeeded in helping lower-income families.