Grassley: Tax reform is a promise kept to Iowa families
By Sen. Chuck Grassley
The Des Moines Register
January 2, 2018
Last month, Congress passed and President Trump signed into law the Tax Cuts and Jobs Act. This historic legislation reforms our broken tax code, makes filing simpler and gives a break to middle-class families and low-income earners in Iowa and across the country.
America needed a simpler tax code, one that closed loopholes and provided more relief to those who needed it most, and one that gave a hand up to middle-class and low-income earners.
That’s exactly what the Tax Cuts and Jobs Act does.
This legislation puts families in control of more of their own money, allowing them to decide how to spend it.
Specifically, the Tax Cuts and Jobs Act provides tax relief for middle-class and low-income earners by cutting tax rates across the board.
When you put all this together, it means a typical Iowa family of four with two children making $59,000 annually could see a tax cut of nearly $1,700.
The Tax Cuts and Jobs Act incorporates common-sense reforms that lay the foundation for a better future. It provides immediate across-the-board tax relief and is an investment in America’s ongoing economic health and prosperity. It puts families first, giving help to the men and women who need it most. It encourages job creation, higher wages and a stronger and more competitive economy. And by broadening the tax base, the law will lighten the financial burden on current taxpayers.
President Trump deserves credit for not only running on a promise to reform the tax code, but keeping his word to Americans and signing this historic accomplishment into law. Tax reform makes good on a years-long promise to deliver significant tax relief to Americans from every walk of life and income level. For millions of Americans, that relief will begin in February when they begin to see the benefits of lower across-the-board income tax rates in their paychecks.
There’s been misinformation surrounding this debate, but the bottom line is that the president’s signature on this historic tax reform legislation means more money in the pockets of hard-working Iowans is coming soon.