America’s economic power is tremendous, but we were burdened by an outdated, oppressive tax system that encouraged investment overseas and hampered the job market for American workers.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.
- Voted for H.R. 1, the Tax Cuts and Jobs Act, the largest tax cut to become law in over 30 years.
- Cosponsored H.R. 1105, the Death Tax Repeal Act of 2015, which permanently repeals the Death Tax.
- Cosponsored H.R. 2355, the Permanent Internet Tax Freedom Act, which bans taxes to access the Internet.