Upton: The Time for Middle-Class Tax Reform & Relief is Now
Legislation would modernize code, lower tax rates, create jobs
U.S. Rep. Fred Upton, R-St. Joseph, today applauded the introduction of H.R. 1, the Tax Cuts & Jobs Act, a bold piece of legislation that will overhaul our nation’s tax code for the first time in 31 years. Upton released the following statement:
“The time for middle-class and small business tax reform and relief is now,” said Upton. “Our tax code has not been updated since 1986 and it shows. Families pay too much and small businesses are stuck in a tax system that holds them back. A simplified, modernized tax code will lower taxes on low-income and middle-class Michigan families and allow them to keep more of their paychecks. Small businesses will see their tax burden slashed so they can grow and hire more local workers. This plan, which I’m hopeful can be bipartisan, will lower the rates for those who need relief the most, bring jobs back home, and give needed certainty to our job creators right here in Michigan. This is an historic opportunity and I look forward to working with my colleagues to get the job done for Michigan families and businesses who need tax relief now.”
“Comprehensive tax reform will encourage the growth of business here in Southwest Michigan, create more jobs, and make it easier for companies large and small to succeed,” said Chris Heugel, President of the Cornerstone Chamber of Commerce. “The proposed reforms on the table are a game-changer that will promote our local businesses and, in turn, enhance the quality of life for all in our communities. We look forward to continued engagement with Congressman Upton and applaud his efforts in advancing these long overdue, common-sense reforms.”
“The proposed tax reform is a crucial step in growing the economy in Michigan’s Great Southwest” added Rob Cleveland, President of Cornerstone Alliance. “When companies are considering a new location or expansion, the overall tax climate is always one of the most important aspects. Comprehensive tax reform and a simplified tax code will motivate domestic and foreign-based corporations to maximize their investments here, creating more and better opportunities for the regional workforce.”
The House Ways and Means Committee is expected to begin marking up the Tax Cuts and Jobs Act on November 6, 2017.
Click HERE to read the full legislative text.
Click HERE to read the section-by-section summary.
Click HERE to read the policy highlights.
Click HERE to read examples of how this legislation will help Americans of all walks of life.