Handel Responds as Tax Cut Bill Advances to House Floor
WASHINGTON, D.C. - U.S. Representative Karen Handel issued the following statement after House Ways & Means passed the Tax Cuts and Jobs Act through its committee this evening. With committee passage of the bill, the legislation is expected to head to a vote in the House next week.
"The Tax Cut and Jobs Act's pro-growth policies for businesses, especially small businesses, will create economic growth the likes of which most of us have not experienced in our lifetime," Rep. Handel said. "Here are the facts: under this bill, the vast majority of families in Georgia’s Sixth Congressional District and across our state will be able to keep more of their hard earned money at every paycheck.
"The standard deduction is doubled, the adoption tax credit is retained, and the child tax credit is expanded from $1,000 to $1,600. There’s also a new family tax credit and enhanced college savings accounts opportunities. Additionally, the alternative minimum tax, which penalizes my district at almost twice the national average, is eliminated, and the death tax is phased out completely.
"This bill sets the small business tax rate at its lowest level since World War II. This small business relief, combined with other corporate tax reform, will unleash investment and fuel job creation.
"Ultimately, I am confident the final bill that passes the House and gets the President's signature will be a net positive for working families and business owners of the 6th district, creating stronger growth, more jobs and higher wages."
More information on the House tax cut bill can be found though www.fairandsimple.gop.