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Dear Friends,
This week, House Republicans unveiled a pro-growth, pro-family tax code framework to bring prosperity to Arkansans and Americans. We need a tax code that supports families while promoting financial growth and giving our job creators the certainty needed to grow, expand, and create their businesses.
Since 1986, the tax code and its regulations have grown to over 70,000 pages. There is nothing simple or fair about that. It’s been over 30 years since we’ve made any significant changes to the tax code, and it’s time to deliver a simpler, flatter, and fairer tax system. A staggering 90% of Americans cannot even complete their own taxes, and they spend over six billion hours and $168 billion to file their returns. This is hard-earned money families could better use for their own goals like saving for their children's education or buying a better home.
The President, the House Committee on Ways and Means, and the Senate Committee on Finance have developed a unified framework to achieve pro-American, fiscally responsible tax reform.
Here are some ways we're fixing our broken tax code and simplifying it for Americans across the country.
Under the proposed tax reform framework, hardworking families will see more of their income since it will not be subject to federal income tax. It provides tax relief by roughly doubling the standard deduction to $24,000 for married taxpayers filing jointly and $12,000 for single filers. In combination, these changes simplify tax filing and effectively create a larger “zero tax bracket” by eliminating taxes on the first $24,000 of income earned by a married couple and $12,000 earned by a single individual.
Small businesses are such a vital part of our local economy. The framework limits the maximum tax rate applied to the business income of small and family owned businesses conducted as sole proprietorships, partnerships, and S corporations to 25%, instead of up to 45%.
Other ways the proposal helps our mom and pop shops include a full, unlimited write-off of capital equipment, which allows job creators to continue deducting their interest payments. And we’re going to make sure that more business owners can do simple cash accounting – an easier way to keep their books.
Consolidating seven tax brackets of taxable income into three and repealing the death tax are two other components included in our tax reform package. This allows lower taxes for every income level.
Doing your taxes should be as simple as filling out a postcard. The burdens and complexities of our current broken tax code comes at a real cost to hardworking families all over our country, and we are offering solutions that bring home American businesses, create jobs, and keep more of our hard-earned income.
I have always advocated for lower taxes, and I look forward to working with my colleagues to give hardworking Americans hope and relief with a tax code that Arkansan and American families deserve.
Sincerely,
Representative French Hill |
Proud to have my friend Rep. Brenda Lawrence (D-MI) join me at the 60th anniversary of Central High integration and to show her the houses to be preserved by my bill. Protecting the streetscape will give modern-day history travelers retracing the steps of the civil rights movement the opportunity to step back in time to 1957.
I wasn’t sent to Washington to maintain the status quo, and this was our message on the steps of the U.S. Capitol this week as we discussed delivering to Arkansans and Americans tax relief, borders that are secure, and a health care system that is affordable.
Thrilled to welcome my friend, Congressman Steve Scalise (R-LA), back to Congress this week after a long road of recovery. He’s already back at work in the People’s House, and we all couldn’t be prouder of his bravery and courage.
This week on the House Floor I called for an immediate and unified rescue, relief, and recovery effort for Puerto Rico.
Rep. French Hill: Trump is making progress on North Korea where past presidents faltered
by Rep. French Hill | Sep 28, 2017
North Korea is pressing forward with their three-decade goal of building a stockpile of nuclear weapons that threaten the United States and north Asia. With the safety of the U.S. and our allies at stake, we will not stand by and let the region fall into chaos. That is why we as a nation and as a global community are taking decisive action that has been absent for decades.
First, how did we get here?
In the 1990s, President Bill Clinton agreed to a "freeze" and "dismantlement" of the rogue regime's nuclear program. He secured an agreement for inspections, and, in exchange, the U.S. and the international community sent vast supplies of oil and some $4 billion to Pyongyang.
Then, in his 2002 State of the Union address, President George W. Bush declared North Korea part of the "axis of evil" in large part due to their non-compliance with previous agreements. At that time, in a post-Sept. 11 world, however, our military and diplomatic attention was focused on the Middle East, and, as a result, desperately needed pressure on the rogue regime was insufficient.
Most recently, former President Barack Obama's strategy of "strategic patience" for eight years gained us nothing and resulted in a more dangerous...
Read more HERE.
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