By Congressman Robert Pittneger
Promise made, promise kept. This week, House and Senate Republicans, working with President Trump, delivered on our promise to give tax relief to hardworking American families.
Right now, roughly half of Americans live paycheck-to-paycheck. The Tax Cuts and Jobs Act is focused on boosting take-home pay for hardworking American families by doubling the standard deduction, doubling the child tax credit, and preserving important middle-class deductions for charitable contributions, mortgage interest, medical expenses, and retirement savings. All of this means the typical North Carolina family will see an extra $2,000 in their paychecks each year.
Our conservative Republican tax reform will also boost the economy and create good paying jobs. Did you know America has the highest corporate tax rate in the industrialized world? No wonder companies move overseas. We made the corporate tax rate competitive and fixed several other problems to make the tax code fairer and more equitable for small business owners, who create the majority of new jobs. Based on these changes, the U.S. Chamber of Commerce expects nearly 30,000 new jobs in North Carolina.
As well, remember that under Obamacare, you paid a fine for not buying Washington’s version of health insurance. We eliminated that tax penalty so you can purchase the health insurance that works best for your family.
Special interest groups and lobbyists fought hard to maintain the status quo, which included special loopholes and carve-outs for the elite. We pushed back against the well-connected and focused tax reform on helping hardworking American families.Share: