Washington, D.C. – This afternoon, the House approved the Senate-passed conference report of the Tax Cuts and Jobs Act bill that overhauls the tax system. The bill will now head to President Trump’s desk for signature.
Penny Nance, CEO and President of Concerned Women for America, issued the following statement:
“Our tax system is unnecessarily complex and outdated, and I applaud the House and Senate for coming together to create reform that will benefit the American family. Speaker Ryan has been tirelessly working to reform the tax code since he was a hill staffer, and I offer my congratulations to him and gratefulness for his hard work, as well as the dedication and work of Chairman Brady (R – Texas), Chairman Black (R – Tennessee), Chairman Hatch (R – Utah), the conference committee, and House and Senate Leadership.
“This overhaul is pro-family and includes the doubling of the child tax credit to $2,000. I applaud the conference committee for adopting the Senate-passed language that doubled the credit and made it refundable. Senators Rubio (R – Florida) and Lee (R – Utah), as well as Ivanka Trump, have worked hard to ensure this key element was not overlooked. This increase will allow parents more flexibility in how they choose to raise their children in an increasingly expensive environment. As pro-life Americans, we must ensure that the costs of raising a child do not make having children seem impossible. This credit expansion is an important element in this formula.
“Independent analysis has found that 80% of Americans will see tax cuts because of this bill. Shame on Democrats for falsely selling this as a one-sided reform that only helps the ultra rich and for failing to put aside petty politics to vote for a bill to help their constituents. Additionally, by lowering the corporate tax rate, America is again a competitive environment for business. This bill will not only create job growth but will put money back in the pockets of American workers. The voters will remember those who dug their heels in for the sake of partisanship and voted against tax cuts for the American family.”