The House Ways & Means Committee released the Tax Cuts & Jobs Act today, which implements major reforms to the U.S. tax code. The plan lowers rates on the middle-class, consolidates individual tax brackets, offers a larger standard deduction, and lowers corporate tax rates.
Congressman Higgins issued the following statement:
“From day one, this effort has been about working-class Americans and delivering tax relief for the middle class. That’s exactly what this bill does. It allows American families to keep more of their hard-earned paychecks and provides incentives to spur economic growth and new job creation for businesses of all sizes. All Americans will benefit from this package, and I see no reason why this shouldn’t be a bipartisan effort. I am hopeful that we can move this bill quickly through the House and Senate.”
Earlier this week, the following Louisiana groups joined other industry and business groups on a letter offering their support for tax reform:
- Baton Rouge Area Chamber
- Bossier Chamber of Commerce
- Chamber Southwest Louisiana
- Central Louisiana Regional Chamber of Commerce
- Crowley Chamber of Commerce
- Jeff Davis Chamber of Commerce
- Louisiana Association of Business & Industry
- One Acadiana
