Rep. Calvert Votes for Historic Tax Relief for American Taxpayers and Job Creators
Republican Congress Passes Once in a Generation Legislation
Today, Congressman Ken Calvert (CA-42) voted along with a majority (227 to 203) of the House of Representatives to approve the Tax Cuts and Jobs Act conference report.
“With the House passage of the Tax Cuts and Jobs Act we are on the verge of enacting the most pro-growth tax policy our country has seen in decades,” said Rep. Calvert. “Lower taxes, more jobs, and higher wages are on the way. Congress listened to the concerns voiced about the original bill and we produced an even better bill. I am confident that our economy is now poised for tremendous growth thanks to the passage of the Tax Cuts and Jobs Act. As soon as next month, Americans will see and feel the impact of this bill by having more money in their paychecks."
“It has been 31 years since President Ronald Reagan signed our last sweeping tax reform bill into law. Over time, the tax code once again became muddled with special interest deductions and credits. We have had time to evaluate the benefits of each provision wedded in to the code, and I believe the bill considered today is a monumental step forward in cleaning out the tax code and creating a more fair system that will achieve the growth our economy experienced after the Reagan tax reform."
“I was proud to support one of the most consequential pieces of legislation that I have had the opportunity to vote on in my career. This legislation provides a direct path to higher wages and more jobs. The reduction of the corporate tax rate will bring jobs back to America and unleash the untapped potential of our entrepreneurs.”
“I look forward to the President signing this legislation before the end of the year, allowing constituents in my district to reap the benefits beginning January 1, 2018.”
According to the independent Tax Foundation, the Tax Cuts and Jobs Act will lead to an estimated 1.7 percent increase in GDP over the long term, 1.5 percent higher wages, and an additional 339,000 full-time equivalent jobs throughout the nation.
It is estimated that 9 in 10 Americans will find it more beneficial to take the standard deduction, saving time and money on tax preparation and leaving more money in the pockets of Americans.
The Tax Cuts and Jobs Act will provide tax relief to Americans by:
The Tax Cuts and Jobs Act will provide a tremendous boost to our economy by:
For more information on the Tax Cuts and Jobs Act please visitwww.fairandsimple.gop.