There’s quite a bit of tax reform news today, so we wanted to take a minute to fill you in on the latest:
What just happened? The House, Senate, and White House announced that we are united around a set of commonsense ideas for transformational tax reform. Read the full statement here.
Go on . . . These reforms are focused on lowering tax rates to help the middle class get ahead, allowing unprecedented capital expensing for businesses, creating a system that brings back jobs and profits trapped overseas, and locking these reforms in for the long-term.
Why is this so important? Because historic tax reform will create jobs, increase wages, and grow our economy. That means more money in your pocket and a more competitive environment for our businesses.
What about BAT? The overarching goal of tax reform is more important than any single policy. We agreed to move forward without BAT once we determined there is viable alternative that still creates a level playing field for American businesses.
Now what? House and Senate committees will take the lead in drafting legislation based on these principles by incorporating feedback from lawmakers and the public. After committee approval, under the regular order process, the House and Senate will take up these bills.
Here’s the bottom line: Republicans—in the House, Senate, and administration—are united and ready to get this done. We made a promise to deliver historic tax reform to the American people, and that’s exactly what we will do, in 2017.
To learn more, visit speaker.gov or check out the links below: