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Culberson Statement on Passage of Tax Reform 2.0

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Washington, September 28, 2018 | comments

Washington D.C. - Congressman John Culberson (TX-07) released the following statement today after the House passed Tax Reform 2.0 - a proposal that includes three pieces of legislation: H.R. 6760, the Protecting Family and Small Business Tax Cuts Act, H.R. 6757, the Family Savings Act, and H.R. 6756, the American Innovation Act.

“Since we passed the largest tax reform bill in December, hardworking Americans have seen bigger paychecks and a flourishing economy. This week, the House passed another tax package that will make the tax cuts permanent for individuals and small businesses.

“District Seven families will continue to see more money in their pockets, will have better retirement and education savings options, and will have more confidence in our booming economy.

“We are making the business environment more competitive so that companies will continue coming back to the U.S. in droves, sealing the long-term prosperity of our nation.

“I urge my colleagues in the Senate to support this legislation and send it to President Donald Trump’s desk to be signed into law.”

Tax Reform 2.0:

  • Protecting Family and Small Business Tax Cuts Act of 2018 (H.R. 6760) will make the individual rates, deductions and credit structures, and pass-through qualified business income deduction from the TCJA permanent.
  • Family Savings Act of 2018 (H.R. 6757) expands several existing retirement and education tax-preferred savings accounts, creates additional savings options for taxpayers, and makes changes to retirement plan and account regulations to make those more saver-friendly.
  • American Innovation Act of 2018 (H.R. 6756) will support the formation of new capital by removing barriers that limited the ability to carryforward losses.

 

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Tags: Taxes

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