Bringing America's Tax Code into the 21st Century
Washington, DC – After voting in favor of H.R. 1, the Tax Cuts and Jobs Act today,Congressman Adam Kinzinger (IL-16) released the following statement:
"Our current tax code is over 30 years old and our economic growth is stagnant. Today, I voted in favor of the House's ‘Tax Cuts and Jobs Act' to provide tax relief to families, small businesses, and individuals here in IL-16 and across the country, and to give our economy the jump start it so desperately needs.
"Nearly 70% of IL-16 residents pay the standard deduction. This tax plan doubles the standard deduction, repeals the death tax, and consolidates tax brackets to put money back into the pockets of more Americans. According to the Tax Foundation, this tax plan will create more than 37,000 new, full time jobs here in Illinois. Families in my home district and around the country will benefit from a new family credit that helps with everyday expenses, and will also provide streamlined education benefits to help them save for and better afford college tuition and education expenses, including apprenticeships.
"While there are still a few issues to be worked out in the ‘Tax Cuts and Jobs Act,' this is an important step forward to simplify our tax code and make it a more fair system for hard-working Americans. I applaud the efforts of Chairman Brady and the House Committee on Ways and Means for their hard work in getting this legislation to the floor. And I look forward to our continued work on bringing our tax code into the 21st Century."
