As lawmakers from both chambers of Congress meet to bring together the best ideas from both the House and Senate versions of the Tax Cuts and Jobs Act, people from across the country continue to voice their support for this pro-growth legislation.
Check out what these state and local leaders are saying:
“Like many Americans, I hire assistance each year to help me and my small business navigate income tax season. And like most Alabamians, I know two things for certain, our federal income taxes are too high, and our income tax code is too complicated.
“The Tax Cuts and Jobs Act, which passed the House in November and the Senate last week, will provide tax relief for small businesses and corporations, and it will go a long way toward simplifying our nation’s convoluted tax code.”
“A specific provision of the act allows small employers to immediately write off the full cost of new equipment such as computers, vehicles and machinery to improve operations and enhance the skills of their workers. It also protects the ability to write off the interest on business loans that help them start or expand a business, hire workers and increase paychecks.
“Arizona ranks among the top five states for Hispanic-owned small-business-loan applications. This provision will help small business owners throughout our country as well as the more than 120,000 Hispanic-owned small businesses in Arizona.”
“If we lower the corporate tax rate, billions of dollars will return from overseas and will give Arkansas an opportunity to continue our success in attracting new industry and investment.”
“When working families should be dedicating money to savings, college and retirement accounts, they’re sending too much out of their hard-earned paychecks to Washington, D.C., instead.
“It’s time for a change, and help is on the way. We want to applaud the members of Iowa’s congressional delegations in the House and Senate for beginning this discussion and taking the first steps in fighting to modernize our outdated federal tax laws and give Iowans the fairer, simpler, more competitive tax code they deserve.”
“Sensible, fiscally responsible tax reform will provide energy and impetus to an already dynamic economic recovery in the United States. I applaud President Trump and Congress for being willing to tackle this head on. I encourage them to be bold in their reforms and to approach the issue with pro-growth, pro-employer policies in mind. The sun is shining brightly on Kentucky’s economic future. Federal tax reform can be an important step in ensuring that same level of optimism for Americans everywhere.”
“The Tax Cuts and Jobs Act would make it easier for small-business owners to reinvest in their business by cutting the top individual rate to 25 percent — a far cry from nearly 40 percent. How would it help Maine? The Republican tax bill would add roughly 3,800 jobs to the state economy over the next decade, according to the Tax Foundation. By 2027, Maine’s middle-class families would see an average jump in income of $1,933.”
“Tax Reform has been a top priority for Michigan Farm Bureau for decades. We’re glad to see we are one step closer to it becoming a reality.”
“Making common-sense changes to our harmful and outdated tax rates can provide a real, proven stimulus to our economy. Ten million Michiganders have seen the proof. It is well past time the rest of the country saw it too.”
“For too long, our tax system has been complex, corrupt, and high. We need a system that is simple, fair, and low. In Missouri, we’re trying to do our part at the state level—but the biggest changes that small business owners need begin at the federal level. …
“Congress can fix this broken system. They need to get the details on tax reform right and make sure they’ve got a bill that works for the American people. Above all, they need to give small business owners and families relief. Too many small business owners have waited too long, with taxes that are too high, under a system that is too complicated. Getting tax reform done will grow jobs and help these businesses.”
“Tax reform is important for Montana’s small business owners – who provide the majority of employment opportunities in our state and form the backbone of our economy. It is also important for families of all income levels, who will experience a much-needed boost in the form of lower taxes and higher wages.”
“I applaud the President and congressional leadership for making tax reform a top priority this year. Providing relief will put more money back into the pockets of hardworking families and unleash economic growth in communities across our nation.”
“[Getting] the corporate marginal tax rate down to 20 percent or lower is the most important thing in this reform. Among other things, doing so will greatly reduce the problems of U.S. businesses leaving profits they earn in other countries there or in tax havens. When these earnings are repatriated, we will enjoy a permanent growth surge due to increased investment.”
“Thanks to the House leadership, the country may finally get the relief it deserves. Although eliminating many breaks, it still takes care of the Garden State by doubling the standard deduction that 60 percent of state residents use and eliminating the alternative minimum tax, all while preserving a $10,000 property tax deduction — identical to the one we have on the state level. It will create over 25,000 New Jersey jobs, and our middle-class families receive after-tax income boosts of $2,602.”
“Tax reform is especially important for all of the people in New Jersey who have been saddled down by increased taxes right in their own backyard – at every turn, there has been another spend and tax scheme to feed the tax beast at the troth of the hard-working tax paying individual.”
“If it works in a large state like North Carolina, Congress can use these same guiding principles to enact long-term tax relief that helps families and businesses and grows the national economy with a balanced approach.
“We strongly encourage Congress to adhere to the cornerstones of fair tax treatment and responsible spending, as we did in North Carolina. Our taxpayers are treated equally with a simple, straightforward system that resulted in robust economic expansion.”
“Here in Oregon, small businesses support our communities and define their character. More importantly, they employ over half our private workforce. … Tax reform will help us breathe a sigh of relief.”
Gene Barr (President, Pennsylvania Chamber of Business and Industry), Kevin Shivers (Executive Director, National Federation of Independent Business), and David Taylor (President and CEO, Pennsylvania Manufacturers Association):
“The pro-growth incentives in the bill are many: full expensing of new equipment and machines, reduction in tax rates for pass-through businesses, and a globally competitive tax rate on corporations that is made permanent so more investment occurs in America and not overseas. Together, these modifications will encourage small, mid-sized, and large Pennsylvania companies to invest in their factories, expand their domestic operations, and hire more workers.”
“The dollars my family are able to keep in our business are dollars we will invest in ranching and in the businesses that support our ranch.”
“A territorial system would place Utah’s companies on equal footing in foreign markets, and it would also repatriate trillions of dollars from overseas, and discourage corporate inversions.”
“Virginia had long been the best state in the nation at growing jobs and expanding business operations. But our unfavorable tax climate has continued to decrease our ranking over the years. Delivering that 25 percent tax rate for our overburdened small businesses will reward their economic performance and direct reinvestment back into their businesses and Main Streets everywhere.”
“The Republican plan will bolster our economy and implement lower taxes for everyday Americans. It will bring back profits that multinational corporations hiding their wealth overseas, in addition to ending the export of good-paying jobs to other countries. No more loopholes for the super-rich.
“Simple, fair, easy — tax reform that benefits West Virginians in a major way will be signed into law. President Trump said it best himself, you will be able to mail the IRS and say, “I win” after having your taxes lowered and the entire process simplified.”
“The time to act is now. … For proof, just look at states like Wisconsin where we’ve done it and have the results to point to. Our state is importing jobs from overseas. Think about how significant that is. If the midwestern state of Wisconsin can accomplish that, just think of what we can do as a country when tax reform is passed at the federal level.”
CLICK HERE to learn more about the Tax Cuts and Jobs Act.