Making Tax Cuts Permanent
Tax Cuts 2.0
This week, the House continued its work to give hardworking families greater financial security and fuel growth among America's Main Street businesses.
Individual tax cuts were made permanent, giving families in the 6th District the certainty they need for greater financial stability. Did you know that the average family of four in the 6th District will see tax cuts of more than $4,000? Now that's a tax cut! With expanded child tax credits, doubled standard deductions, and elimination of the Alternative Minimum Tax for middle income earners, this legislation will help hardworking families have a better chance at getting ahead.
Additionally, the lower tax rates for our smaller businesses were made permanent. The means that our Main Street businesses will be able to continue to grow and expand. And, we are already seeing the positive results. New business startups among African American and female entrepreneurs is at its highest in decades.
As part of this package, the House also passed the American Innovation Act and the Family Savings Act.
The Family Savings Act expands the opportunity for individuals and families to save money. The bill includes reforms to simplify the process for employers to provide retirement plans to their employees. In addition, the bill sets up universal savings accounts, which are individual accounts that Americans can use to save for any purpose, in order to encourage families to save more and save early.
The American Innovation Act allows for small businesses to expense more money in the first year of their operation – the amount a company can expense is now double what it was before. Additionally, the bill also provides protections for tax credits if a company undergoes ownership changes. The bill is needed to restart American business and entrepreneurial innovation.
Fostering Prescription Cost Fairness
On Tuesday, the House passed S. 2553, the Know the Lowest Price Act of 2018, by voice vote. The bill prohibits a health-benefits plan or pharmacy-benefits manager under Medicare or Medicare Advantage from restricting a pharmacy from informing an enrollee of any difference between the price of a drug under the plan and the price of the drug without health insurance coverage.
The House also passed S. 2554, the Patient Right to Know Drug Prices Act, by voice vote. The bill prohibits the use of gag clauses, which bars pharmacists from disclosing to patients the price of prescriptions.
Keeping Our Communities Safe
Congress passed H. Res. 1099, the House Amendment to Senate Amendment to H.R. 6, the Substance Use-Disorder Prevention that Promotes Opioid Recovery and Treatment (SUPPORT) for Patients and Communities Act, by a vote of 393 to 8. It now heads to the Senate for a final vote and then to President Trump’s desk to be signed into law.
This legislation expands treatment and recovery options, improves research and mechanisms for prevention, and strengthens our effort to fight synthetic drugs like fentanyl.
The House also passed H.R. 6847, the Preventing Child Exploitation Act of 2018, by voice vote. The bill combines the language of four House-passed bills to close loopholes in child exploitation statutes.
Additionally, this week, we passed funding that prioritizes safety and military readiness. Here are just a few of the key items that were funded in the FY19 Appropriations Bill.
Standing for Small Business
Sending a special thank you to the National Federation of Independent Business (NFIB) for awarding me the Guardian of Small Business Award for being a strong voice for Georgia’s small businesses and free enterprise. I am incredibly proud to support small businesses and the American Dream in Georgia.
Thank you for taking the time to read this note. To stay current on what's going on in Congress, please follow me on Facebook by clicking here or visiting Facebook.com/RepKarenHandel. If you find this update helpful, please take a second to forward it along to a few of your friends and neighbors.
In addition, because of rules from the House of Representatives, I will not be able to conduct live tele-town halls after August 8th through Election Day. As always, feel free to call (202) 225-4501 or (770) 998-0049 if you need assistance from me or anyone in my office.