Rep. Ratcliffe votes for biggest tax cut package since Reagan
WASHINGTON – Rep. John Ratcliffe (R-Texas) voted today for the passage of the Tax Cuts and Jobs Act (H.R. 1) in the U.S. House of Representatives. As the biggest reform of our tax code since 1986, this bill will create bigger paychecks, create more jobs and allow 9 out of 10 Americans to file taxes on a postcard.
“I’ve heard far too many of the hard-working Northeast Texans I represent tell me about how our overly complex and convoluted tax code makes it tough or nearly impossible for them to support their families or grow their businesses,” Ratcliffe said.
“The passage of our House Republican tax reform bill will finally offer them the relief they deserve, and I was proud to support it as a measure that truly provides a strong dose of the fiscally conservative values for Washington that have allowed Texas’ economy to thrive.”
In addition to creating nearly 1 million jobs nationwide, the legislation will create more than 80,000 jobs in Texas and allow middle-class families in the state of Texas to take home an extra $2,600 each year.
The Tax Cuts and Jobs Act also maintains the current tax rate for millionaires to ensure that lower and middle-income families are given maximum relief.
Other pro-growth, pro-family provisions include:
- Increasing the child tax credit from $1,000 to $1,600 per child
- Reducing small business tax rates to as low as 9 percent
- Eliminating the Alternative Minimum Tax and “Death Tax”
- Simplifying tax filing by doubling the standard deduction for couples and individuals
- Maintaining the adoption tax credit and charitable donation credit
For more information on the Tax Cuts and Jobs Act, please visit: fairandsimple.gop.