This is a great day for America! After more than 40 public hearings under three different chairmen over nearly seven years, the House Ways and Means Committee has produced the most monumental tax cut bill in a generation: The Tax Cuts & Jobs Act.
This historic legislation means more take-home pay for every single hardworking American so that he and she can keep more of their hard-earned money to spend as they choose instead of shipping it off to the federal government. It also means that American companies will no longer have to pay the highest taxes in the industrialized world. By sensibly lowering the corporate tax rate, our nation’s businesses can create more jobs, bring old jobs back, keep more jobs here, and fairly compete in the global marketplace. The process of turning this far-reaching bill into law is just beginning—there is still much work ahead. At the end of the day, our goal will be the same: more money in every taxpayers’ pocket, a stronger economy, and a tax code that makes sense again.
Read the full bill here: https://waysandmeansforms.house.gov/uploadedfiles/bill_text.pdf
Read the highlights here: https://waysandmeansforms.house.gov/uploadedfiles/policy_highlights.pdf
View specific benefit examples here: https://waysandmeansforms.house.gov/uploadedfiles/tax_payer_examples.pdf
Find even more info here: https://kelly.house.gov/press-release/rep-kelly-celebrates-introduction-historic-tax-cut-bill