Release Of Tax Cuts and Jobs Act Marks the Beginning Of Historic Tax Reform

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Washington, November 2, 2017 | comments
Specifically, as a result of this bill the average middle-class family in my district earning $59,000 will receive a $1,182 tax cut. Rather than giving it to the IRS, a family would be able to keep this money and use for more important things such as raising their children or paying down debt
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 Washington, DC -- US Representative Ted Budd (R-NC) released the following statement after the release of the Tax Cuts and Jobs Act:


"This is an exciting day. Today marks another important milestone in the process of reforming our tax code for the first time in over thirty years. Since the beginning, I have asked three main questions: will this bill cut taxes for the middle-class, does this bill make our business climate competitive in the global economy, and does this bill simplify the tax filing process for people at home? The answer to all of these questions are ‘yes.’

Specifically, as a result of this bill the average middle-class family in my district earning $59,000 will receive a $1,182 tax cut. Rather than giving it to the IRS, a family would be able to keep this money and use for more important things such as raising their children or paying down debt.

While there are still many steps left before any tax laws are changed, I’m optimistic and look forward to working with my colleagues in the coming weeks to pass much-needed tax relief for the American people before Christmas."
 

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