Press Releases

Today, Congressman Jodey C. Arrington released the following statement after the House passed a series of bills commonly known as Tax Reform 2.0. The legislation includes measures to lock in tax relief for the middle class and small businesses made in the Tax Cuts and Jobs Act, foster family and retirement savings, and better support entrepreneurs. “Because of tax relief and pro-growth policies, Americans are keeping more of their hard-earned money, families in Texas alone are saving over $2,000, unemployment is at a record low, and small business and consumer confidence are at record highs. “There is no reason reducing taxes and reforming the tax code has to be a once-in-a-generation exercise. We need the mindset in this country that ‘We the People’ fund and empower the government, not the other way around. “Tax Reform 2.0 makes tax cuts for the middle class and small businesses permanent. Making the income tax rate and other deductions that would otherwise expire in 2025 permanent would increase the long-term GDP by another 2.2%, boost wages, and create 1.5 million new jobs. “To encourage and reward the entrepreneurial spirit which is a key ingredient to American exceptionalism, Tax Reform 2.0 also expands expensing for brand new businesses. By allowing start-up companies to write off more of their initial costs, we can encourage the creativity and productivity new, small businesses bring so America can remain a global leader for innovation and job creation. “It’s time to make tax relief permanent and provide the American people, both businesses and consumers, with the certainty they deserve and the certainty our economy needs to keep growing and remain the envy of the world.”