House Republicans Introduce Tax Reform 2.0

The first round of tax cuts were, undoubtedly, a success. Liberals will deny that forever. They’re wholeheartedly convinced that they hurt the middle class. Tell that to the families taking home bigger paychecks, seeing lower utility costs and bring home bonuses.

Nope. Those are just “crumbs,” according to Nancy Pelosi. Unfortunately for the left, Republicans are looking to give the American people even MORE “crumbs.”

The House Ways and Means Committee just unveiled tax reform 2.0.

JUST INTRODUCED: Tax Reform 2.0. Focused on permanence, retirement, and innovation. Learn more ➡️ https://t.co/3SLO4U0A42

— Ways and Means (@WaysandMeansGOP) September 10, 2018

“Last year we said goodbye to America’s old, broken tax code,” House Ways and Means Committee Chairman Kevin Brady said. “Under our new system, we’re seeing incredible job growth, bigger paychecks, and a tax code that works on behalf of families and American businesses. Now it’s the time to ensure we never let our tax code become so outdated again. We look forward to bringing these bills to the Committee soon.”

This is a gross generalization of the bills, but they would, in part, make aspects of the 2017 tax law permanent. (Like keeping the lower individual rates, well, lower.  )

Here’s his full statement:

“The Tax Cuts and Jobs Act changed the trajectory of our economy for the better. Now it’s time to change the culture in Washington where we only do tax reform once a generation. This legislation is our commitment to the American worker to ensure our tax code remains the most competitive in the world.   

“We are providing certainty. The Protecting Family and Small Business Tax Cuts Act locks in the tax relief from the Tax Cuts and Jobs Act – which included a nearly doubled standard deduction, a doubled Child Tax Credit, lower rates across the board, and a historic 20-percent pass-through deduction for Main Street businesses. This will create over 1.5 million new jobs, continue to raise wages, and boost long-run GDP. 

“We are creating financial security. The Family Savings Act focuses on helping families save more and earlier for the future by making it easier for businesses to offer retirement savings plans while ensuring workers can easily participate in these plans. This will help give our families the financial stability they need for whatever life throws their way. 

“We are helping entrepreneurs grow. The American Innovation Act will increase innovation by helping new entrepreneurs move from the kitchen table to Main Street and beyond. The country that wins the innovation race wins the future, and it’s time for our tax code to help us get there. 

“Last year we said goodbye to America’s old, broken tax code. Under our new system, we’re seeing incredible job growth, bigger paychecks, and a tax code that works on behalf of families and American businesses. Now it’s the time to ensure we never let our tax code become so outdated again. We look forward to bringing these bills to the Committee soon.”

Predictably, Democrats are triggered beyond belief.

Republicans seem determined to lose the House.
It takes a special kind of stupid to double down on a policy the majority of voters dislike. https://t.co/kSKM2nN3SK

— Pitt Griffin (@TheCriticalMind) September 10, 2018

Nothing to see here. Just some Republicans trying to push through more tax breaks for the rich.https://t.co/zkpuK2tNN2

— Tax March (@taxmarch) September 6, 2018

New tax scam alert! Middle class and poor get screwed again!

— Resistance_Erin (@resistance_erin) September 10, 2018

How many tax scams can you have?

— Everyday (@embraceFACTS) September 10, 2018

Hard pass.

— Your Wonderful Son (@toscomo) September 10, 2018

Why people would actively whine about getting to keep more of their own money is truly beyond me.

h/t The Hill