Reichert, House Pass Tax Reform 2.0

Sep 28, 2018 Issues: Tax Policy

Washington, DC - The House passed H.R. 6757, the Family Savings Act of 2018, H.R. 6756, the American Innovation Act of 2018, and H.R. 6760, the Protecting Family and Small Business Tax Cuts Act of 2018 this week. These bills make up a package known as Tax Reform 2.0. As a senior member of the House Ways and Means Committee and member of the Subcommittee on Tax Policy, Representative Dave Reichert (R-WA) released the following statement after passage:

“Today my colleagues and I in the House reaffirmed our commitment to ensuring Americans can continue to keep more of their hard-earned dollars for years to come. To do this we made the provisions for individuals in the Tax Cuts and Jobs Act permanent, improved retirement security, and promoted entrepreneurship in America. Since passing the Tax Cuts and Jobs Act in December, Washingtonians have seen more jobs in their communities and increased wages and benefits. For an average family of four in my district, the new tax code results in a tax cut of nearly $3,357. With these bills we built on the success of tax reform, expanding opportunities for Americans to save for their retirement and supporting new businesses that drive innovation and the entrepreneurial spirit in America with startup costs and capital.”

In December 2017, the Tax Cuts and Jobs Act (P.L. 115-97) was passed and signed into law. As a member of the House Ways and Means Committee, Representative Reichert was actively involved in the formulation of the Tax Cuts and Jobs Act and will continue to be involved in Tax Reform 2.0.  The House Ways and Means Committee passed the Tax Reform 2.0 package earlier this month.