Washington, DC — Congressman Jim Sensenbrenner (WI-05) offered the following statement after voting to advance the Tax Cuts & Jobs Act:
“This historic tax reform package is a great win for the American people. For the first time in a generation, there will be real relief for struggling families. Under Speaker Ryan’s leadership and his “Better Way Agenda”, we are focused on making our economy stronger and expanding opportunities for all Americans. Today’s action by Congress is a huge step toward relief from the burden of an over-reaching government. In fact, the average family of four in my district will see a $2,700 tax cut. Individuals, families, and businesses across Wisconsin and across the country are in a better place than they were yesterday.”
He also offered, “We are at a turning point and I am pleased we have chosen to move forward in the name of the American people. This is about making things better for all Americans and I am proud to be part of it.”
The accompanying conference report to the Tax Cuts & Jobs Act reduces the tax rates on individuals and businesses, doubles the standard deduction, and preserves the mortgage interest deduction. It also maintains state and local tax deductions on property, income or sales taxes up to $10,000. Additionally, it expands both the Child Tax Credit and deductions for charitable donations.
CLICK HERE to view more policy highlights of the conference report.
CLICK HERE to view the full text of the conference report.