It has been 31 long years since Congress last passed tax reform to provide relief to American workers and business.
Since then, the U.S. has continued to lose jobs, businesses and entire industries to overseas competition. Something must change. The question is: will it?
Fortunately, Congress has a once-in-a-generation opportunity to help spark that change with the passage of tax reform. The Tax Cuts and Jobs Act will enable American businesses to compete and thrive again, creating jobs and economic opportunities for middle-class workers, families and their communities. That’s why it’s imperative for Representative Will Hurd to do everything in his power to get this legislation over the finish line.
Of course, there are detractors doing everything they can to stop meaningful tax reform. Congress should ignore them. While this legislation may not be perfect, it will no doubt help Texas families keep more of the money by, among other things, lowering individual tax rates and doubling the standard deduction.
At the same time, local businesses in South Texas will benefit from a lower, more competitive corporate tax rate, alleviating some of the financial pressure they face so they can reinvest in and grow their operations, and create new jobs in the community.
Representative Will Hurd and other members of the Texas Congressional delegation should be commended for supporting tax reform by voting yes on the House version of the Tax Cuts and Jobs Act. Now, it’s time to get tax reform signed, sealed and delivered to President Trump for his signature this year.