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Griffith votes for Tax Reform
19 November 2017, 02:03 | Katrina Lee
Collins leads increased NY GOP support for tax bill
Find out what the industry is saying about the tax reform proposals that are working their way through Congress. "This tax reform will also have an overwhelming impact on our nation's economy that will create jobs and increase wages".
The House passed its Tax Bill Thursday, and with no Democratic support.
Bishop Dewane credited lawmakers for restoring the adoption tax credit, which was not included in earlier versions of the bill. Now our corporate tax rate is higher than any other industrialized country, which helps explain why so many businesses have packed their bags and taken OUR jobs to other countries. Despite the nonsensical outpouring of background noise from some people in Washington who want things to remain broken and unfair for hardworking Americans and their families, we are continuing our strong efforts to better the quality of life for all.
Turning to the Senate's tax cut bill, Bishop Dewane said the USCCB continued to assess its provisions but offered comments about a few provisions. While there is still work to do, this bill is a major milestone in helping unburden the American taxpayer and provide them with the tax relief they need a deserve.
Standard Deduction: Increases the standard deduction to $12,200 for single filers, $18,300 for heads of household, and $24,400 for joint filers.
He welcomed expansion of the child tax credit and a provision that incentivizes paid family and medical leave, but called for that provision to continue beyond 2019, when the bill calls for it to end. Making expensing permanent, fully eliminating the property tax deduction, eliminating the additional fourth tax bracket, and limiting the scope of the new global minimum taxes are good places to start. It would reduce individual tax brackets to four from seven and make changes to several tax breaks.
What's good for the one percenters, billionaires, trust fund kids, and global corporations isn't necessarily good for Michiganders.
Reducing the tax rate on hard-earned small business income to no more than 25%.
The House bill passed on a straight party-line vote, with 13 Republicans joining all Democrats in voting against it.
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