On Thursday, Ways and Means Committee Chairman Kevin Brady (R-TX), Speaker Paul Ryan (R-WI), and Ways and Means Committee Republicans released the Tax Cuts and Jobs Act, pro-growth legislation that provides hardworking Americans transformational tax cuts and real reform for the first time in 31 years.
As Chairman Brady said:
"Our legislation is focused entirely on growing our economy, bringing jobs back to our local communities, increasing paychecks for our workers, and making sure Americans are able to keep more of the money they earn.
"We made a promise to deliver tax reform that creates more jobs, fairer taxes, and bigger paychecks. After years of work, the Tax Cuts and Jobs Act is our answer."
The Ways and Means Committee has had 40 public hearings over the course of six years and our Members have been working hard for this moment. Members are ready to deliver pro-growth tax reform -- now.
Check out what they're saying:
Rep. Peter Roskam (R-IL), Chairman of the Tax Policy Subcommittee:
"We set out to lower rates for hardworking Americans and make it so simple and straightforward that most people will fill out their tax return on something as simple as a postcard. Our bill provides the tax relief people need to save for retirement, save for their kids' college, pay off their mortgages earlier, or pay for something around the house that they've had to put off."
Rep. Sam Johnson (R-TX):
"America's complicated and broken tax code is hurting our economy and, in turn, American families. I'm encouraged to see that the bill introduced today would provide tax relief for working families and the middle class as well as much-needed pro-growth business reforms."
Rep. Pat Tiberi (R-OH):
"This is an historic moment that moves us one step closer to sending a tax bill to President Trump's desk. I look forward to our debate where we will focus on growing our economy, creating jobs and delivering meaningful tax relief to American families."
Rep. Dave Reichert (R-WA):
"Our bold, job-creating tax plan will free Americans to focus on the things in life that matter and position American businesses to expand, compete, and hire more American workers here at home. This is our chance -- there is too much at stake to let this once in a generation opportunity slip away."
Rep. Vern Buchanan (R-FL):
"This bill cuts taxes for middle class families as well as businesses, simplifies a broken tax code, and jump-starts the economy."
Rep. Adrian Smith (R-NE):
"For too long, the overly complex, loophole-ridden tax code has harmed individuals and families trying to get ahead, stifled economic growth, and made our country uncompetitive in the global economy. Today marks the start of real relief."
Rep. Lynn Jenkins (R-KS):
"This legislation includes several important pieces of tax reform such as: Permanently lowering tax rates for families and businesses, simplifying the tax code, and making sure that middle-class benefits like 529 college savings plans and the Child Tax Credit are improved. These are common sense solutions that will fix our tax code."
Rep. Erik Paulsen (R-MN):
"Tax reform will make our economy boom again, allowing middle-income and working families to keep more of their dollars earned, reducing everyday costs of living, and giving Americans the ability to save more for their retirement and their children's future."
Rep. Kenny Marchant (R-TX):
"This is a historic moment in which Congress can reject the status quo that rewards the few, in place of a tax code of opportunity and economic prosperity for all Americans. American workers and American companies will no longer be hurt by a tax code that puts them at a disadvantage in this global economy."
Rep. Diane Black (R-TN):
"Our goal has always been to relieve the tax burden on middle income families so they can save for the future with a simpler and fairer system. The bottom line is that we believe people need more of their paychecks, and individuals spend their own money more wisely than the government. Period."
Rep. Tom Reed (R-NY):
"When people get to keep more of their hard-earned dollars, it means money for things that make a difference for hardworking people. It's a down payment on a car for a factory worker in Hornell, daycare for a young family in Elmira, or a trip to Disney World for a family in Dunkirk. Seniors can now visit their grandkids who were forced out of New York because the taxes were "too damn high'."
Rep. Mike Kelly (R-PA):
"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."
Rep. Jim Renacci (R-OH):
"In the end, it's about growth; and that's what we have to do We have a plan for sustained growth, which gives us the opportunities for long-term sustained growth which will help the national debt."
Rep. Pat Meehan (R-PA):
"It makes filing your taxes simpler and will spur job growth that will put Pennsylvanians back to work. Most importantly, it brings real tax relief to those who need it most: hardworking Pennsylvania taxpayers."
Rep. Kristi Noem (R-SD):
"The Tax Cuts and Jobs Act would make the tax code much more simple and fair, delivering family-friendly credits, lower tax rates, immediate deductibility, small business incentives, and, ultimately, a full and permanent repeal of the Death Tax."
Rep. Jason Smith (R-MO):
"We are delivering a real pay raise to hardworking Missourians, protecting family farms by eliminating the death tax and closing loopholes that only benefit the rich. Our plan will bring back jobs, create fairer taxes, keep more money in people's pockets and make the American dream a reality for everyone."
Rep. Tom Rice (R-SC):
"Many Democrats are using the same old talking point that middle-class families will face a tax increase under the GOP tax reform plan. Folks, it's our goal to restore opportunity for American families and businesses and our plan helps do that."
Rep. David Schweikert (R-AZ):
"This tax reform is so much more than just tax cuts. This is designed to create economic growth."
Rep. Jackie Walorski (R-IN):
"Hoosiers deserve every opportunity to achieve success and live the American Dream, and that's what tax reform is all about. The Tax Cuts and Jobs Act will help American businesses expand, invest, and hire more workers, and it will let middle-class families keep more of the money they earn."
Rep. Carlos Curbelo (R-FL):
"This reform puts American families first by allowing them to keep more of their hard-earned paychecks so they can better provide for their families and get ahead. By doubling the standard deduction for all individuals to $12,000 and married filers to $24,000, South Floridians and American taxpayers across the country will see an immediate increase in their paychecks."
Rep. Mike Bishop (R-MI):
"At the end of the day, all Americans want to keep more of what they earned and build a better life. The Tax Cuts and Jobs Act gets us one step closer by simplifying the tax code and lowering rates so families and individuals at all levels can get ahead."
The House Ways and Means Committee will mark up the Tax Cuts and Jobs Act on November 6, 2017.