{"id":2168,"date":"2017-11-02T15:46:35","date_gmt":"2017-11-02T20:46:35","guid":{"rendered":"http:\/\/cookco.us\/news\/?p=2168"},"modified":"2017-11-02T15:46:35","modified_gmt":"2017-11-02T20:46:35","slug":"trump-tax-plan-officially-the-tax-cuts-and-jobs-act","status":"publish","type":"post","link":"https:\/\/cookco.us\/news\/trump-tax-plan-officially-the-tax-cuts-and-jobs-act\/","title":{"rendered":"Trump Tax Plan – Officially, the Tax Cuts and Jobs Act"},"content":{"rendered":"

The House Ways and Means Committee Chairman Kevin Brady (R-TX) introduced the\u00a0Tax Cuts and Jobs Act<\/span> today.<\/em><\/h2>\n

We downloaded a copy of the 429 page document here<\/a>.<\/p>\n

The announcement declared that it is “bold legislation to overhaul America\u2019s tax code for the first time in 31 years. With this bill, a typical middle-income family of four, earning $59,000 (the median household income), will receive\u00a0a $1,182 tax cut<\/strong>.”<\/p>\n

Upon introducing the\u00a0Tax Cuts and Jobs Act<\/em>\u00a0\u2013 co-sponsored by Speaker Paul Ryan (R-WI) and all Ways and Means Committee Republican Members \u2013 Chairman Brady said:\u00a0\u201cToday marks the beginning of the end of our nation\u2019s broken tax code. The\u00a0<\/em>Tax Cuts and Jobs Act\u00a0will deliver real tax relief to Americans across the country \u2013 especially low- and middle-income Americans who have been struggling for far too long to earn a raise and get ahead.<\/em><\/p>\n

\u201cOur legislation is focused entirely on growing our economy, bringing jobs back to our local communities, increasing paychecks for our workers, and making sure Americans are able to keep more of the money they earn.<\/em>\u00a0<\/em><\/p>\n

\u201cFor families, we\u2019re lowering rates, eliminating costly deductions that drive up taxes, and significantly increasing the standard deduction to protect more of each paycheck from taxes. We\u2019re boosting family-focused tax benefits like the Child Tax Credit to help families keep up with the rising costs of child care, higher education, and looking after their loved ones. And we\u2019re eliminating taxes that punish hardworking families like the Alternative Minimum Tax.<\/em><\/p>\n

\"tax<\/a><\/p>\n

\u201cOur legislation also delivers unprecedented simplicity that will make it easier and more affordable for families across our country to file their taxes each April.\u00a0 For the first time in history 9 out of 10 of Americans will be able to file their taxes on a form as simple as a postcard.\u00a0<\/em><\/p>\n

\u201cAnd we\u2019re making America competitive again so our workers can compete \u2013 and win \u2013 anywhere in the world, especially here at home. By delivering tax relief to businesses of all sizes, the\u00a0<\/em>Tax Cuts and Jobs Act\u00a0makes it easier for entrepreneurs to achieve the American Dream \u2013 to start a business and create jobs in our local communities, and it entices employers to bring their headquarters and jobs back home.<\/em><\/p>\n

\u201cWe made a promise to deliver tax reform that creates more jobs, fairer taxes, and bigger paychecks. After years of work, the\u00a0<\/em>Tax Cuts and Jobs Act\u00a0is our answer.<\/em>\u00a0<\/em><\/p>\n

\u201cThe legislation is now available online<\/a> so our workers, families, and job creators can see how tax reform will improve their lives. I\u2019m confident in the weeks ahead we will move this important legislation forward and work with the Senate to send a unified bill to President Trump\u2019s desk by the end of the year.\u201d<\/em><\/p>\n

A section-by-section summary of the bill:<\/strong><\/h3>\n

https:\/\/waysandmeansforms.house.gov\/uploadedfiles\/tax_cuts_and_jobs_act_section_by_section_hr1.pdf<\/a> \u00a0<\/span><\/p>\n

\u00a0<\/span>Policy highlights of the legislation:<\/strong><\/h3>\n

\u00a0<\/span>https:\/\/waysandmeansforms.house.gov\/uploadedfiles\/policy_highlights.pdf<\/a> \u00a0<\/span><\/p>\n

\u00a0<\/span>Taxpayer examples of how the Tax Cuts and Jobs Act will apply to them:<\/strong><\/h3>\n

\u00a0<\/span>https:\/\/waysandmeansforms.house.gov\/uploadedfiles\/tax_payer_examples.pdf<\/a> \u00a0<\/span><\/p>\n

More to come …<\/span><\/h3>\n","protected":false},"excerpt":{"rendered":"

The House Ways and Means Committee Chairman Kevin Brady (R-TX) introduced the\u00a0Tax Cuts and Jobs Act today. We downloaded a copy of the 429 page document here. The announcement declared that it is “bold legislation to overhaul America\u2019s tax code for the first time in 31 years. With this bill, a typical middle-income family of […]<\/p>\n","protected":false},"author":1,"featured_media":2170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"2017-11-02T20:47:33Z","apple_news_api_id":"ee8f6706-fd3b-41da-b1a9-a2e52ae54b32","apple_news_api_modified_at":"2017-11-02T20:47:34Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/A7o9nBv07QdqxqaLlKuVLMg","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/news-api.apple.com\/sections\/74d71b26-dfe2-3cf6-9b79-55911f8259f1"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"apple_news_notices":[],"_links":{"self":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/2168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/comments?post=2168"}],"version-history":[{"count":0,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/2168\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media\/2170"}],"wp:attachment":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media?parent=2168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/categories?post=2168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/tags?post=2168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}