Talks of tax cuts have dominated media coverage on a national stage for the last few weeks. The House and Senate were finally able to pass tax legislation seeking to boost the economy and bring money back into the hands of the taxpayer.
There have been reports that the bills solely benefit corporations. The plan does indeed slim down the tax code for businesses from the world’s highest rate of 35 percent to a competitive 21 percent. However, the bill also provides middle-class Americans with doubles in both the standard deduction and the child tax credit, as well as lowering the individual rates.
The culmination of these benefits in the proposed bills will foster economic growth through job creation and global competition. In a recent press release, Rep. Jaime Herrera Beutler announced her support for the U.S. House’s Tax Cuts and Jobs Act that will allow residents across Southwest Washington to keep more of their money and earn bigger paychecks. She also argued that, “as a result of this tax-cut plan, most residents will keep more of their money, paychecks will be bigger, and we’ll have nearly 20,000 new jobs in Washington alone.”
Thanks to Herrera Beutler for her commitment to the final passage of tax reform to benefit hardworking Washington families.
