Taxes and IRS

America’s economic power is tremendous, but we were burdened by an outdated, oppressive tax system that encouraged investment overseas and hampered the job market for American workers. That’s why I voted for the Tax Cuts and Jobs Act, which reduced taxes for nearly all Americans and made our nation a much more attractive place for job growth and business expansion.

In fact, under the Tax Cuts and Jobs Act, a family of four here in California’s 8th Congressional District will see a tax savings of $1853 per year on average. By nearly doubling the “standard deduction” on your income taxes, 91% of residents here can take advantage of it: for individuals, the standard deduction increases to $12,000 from $6,350 and for married couples the standard deduction increases to $24,000 from $12,700.

Passing this tax cut plan was the culmination of years of work, and the results are showing: already, millions of Americans have benefitted from new investment, bonuses, and hiring across the nation, and that’s on top of their reduced tax bills.

As always, I stand for lower taxes, a simpler tax system, and no new taxes. I’m proud to have delivered on that promise, and I’m working this year to lower taxes further.