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Job Creation First, Tax Reform Second In House Tax Bill

Job Creation First, Tax Reform Second In House Tax Bill

"Since this plan was introduced, I have crunched the numbers and know that this bill will allow families in Western New York and the Finger Lakes to keep more of what they earn, while unleashing America's competitiveness to bring jobs and profits back home, where they belong". The Tax Cuts and Jobs Act, now under consideration in the Senate Finance Committee, lowers taxes for families in every income group.

The Senate Finance Committee is expected to vote its version of the tax reform bill out of committee on Friday, according to The New York Times, with a full Senate vote expected after Thanksgiving.

Corporate Income Tax: Cuts the tax rate to 20 percent, effective tax year 2018. "This tax reform will also have an overwhelming impact on our nation's economy that will create jobs and increase wages".

What's good for the one percenters, billionaires, trust fund kids, and global corporations isn't necessarily good for Michiganders.

Sherrod Brown
	
	 
		
				
		
	
	
			 					Rob Portman
	
	 
			
			
	
	
	
		 					Bob Latta
Sherrod Brown Rob Portman Bob Latta

$2 trillion is a staggering sum in relationship to the main economic drivers of the American economy - small business - and in terms of big business it is also huge - it is nearly the market value of Apple, Microsoft and Google combined. "And in a number of ways this tax bill is going to make it more expensive to go to college", said Marc Egan with the National Education Association. It will reportedly apply to married couples making more than $1 million a year. "The House today voted to move the United States toward a tax system that delivers jobs and economic growth".

The House passed the Republican tax reform bill, H.R. 1, also known as the "Tax Cuts and Jobs Act", by a 227-205 vote, with numerous provisions that have met with both support and concern from the financial industry. Its greatest defect is the one that prompted Congressman Walter B. Jones (NC-3), a leading fiscal conservative to reluctantly vote against it - it does not include spending cuts along with the tax cuts.

Let's give credit where credit is due: The tax reform bill that Senate Republicans revealed last week is less of an egregious giveaway to the very wealthy than what's being concocted in the House of Representatives.

Obama gets dismissed from jury duty in Chicago
The Chicago Tribune reports Obama arrived at the center this morning to join other potential jury members in the selection room. Obama still owns a home at 51st and Greenwood, and is registered to vote in Chicago , although he and his family live in D.C.

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