On Thursday the House of Representatives passed the Tax Cuts and Jobs Act and sent it over to the Senate.
Earlier this week, the Senate introduced their own version of a tax cut bill. The Senate Finance Committee sent out for a vote a tax plan that raises the Child Tax Credit from $1000 to $2000; this is a change that Concerned Women for America has been advocating for the last several months.
Chairman Orrin Hatch (R-Utah) also moved to repeal the Obamacare individual mandate tax to help provide additional relief to low- and middle-income families. The Congressional Budget Office recently estimated that repealing the mandate would lower the federal budget deficit by $338 billion over the next 10 years. The individual mandate tax was created in the Affordable Care Act as a tax levied against the American people, forcing them to either pay a fine or pay for health coverage they don’t want or can’t afford.
Watch for a Senate floor vote on the tax reform package, the Tax Cuts and Jobs Act, to happen as soon as the Senate returns from their Thanksgiving break. If they are successful, the bill will then be on its way to a Conference Committee with the House of Representatives to work out the differences in the two bills.
Pictured above is CWA Chief of Staff, Caroline Aderholt, with Kevin Brady (R-Texas), Chairman of the House Ways and Means Committee.