Rep. Smith: Tax Bill Keeps Our Promise to Bring Relief to Families
by Lamar Smith on November 16, 2017 at 2:18 PM
Today I voted in support of The Tax Cuts and Jobs Act, which raises take-home pay and creates jobs. The bill passed 227-205.
Today we kept our promise to the American people by passing pro-family, pro-growth tax reform for working Americans. The Tax Cuts and Jobs Act creates jobs, reduces taxes and gives bigger paychecks to families.
This bill raises incomes for families in Texas by an average of $2,558. This bill increases the child tax credit from $1000 to $1600 to provide more support for Texans taking care of their children. Over 45,000 taxpayers in the 21st district will benefit from the child credit increase.
The legislation also simplifies the tax code – nine out of ten Americans will be able to file their taxes on a form the size of a post card.
The tax rates for small and family-owned businesses and corporations are reduced. This encourages companies to bring their foreign profits and jobs back to the U.S. for American workers.