Provided by Congressman Rob Wittman’s Office
Congressman Rob Wittman (VA-1) released the following statement after voting in favor of H.R. 1, The Tax Cuts and Jobs Act:
“This is our window of opportunity; our once-in-a-generation opportunity to pass real reform for the American people. I was proud to cast my vote in favor of a plan that means bigger paychecks, fairer taxes, and more jobs for my constituents. This pro-family, pro-growth plan for tax reform was inspired by hardworking men and women across the country who are struggling under our current tax code. The Tax Cuts and Jobs Act will give our economy the boost it so desperately needs, by simplifying our broken tax code and supporting our job creators on Main Street. I urge the Senate to move this legislation as quickly as possible so that we can start working out our issues in conference. We cannot continue to burden our families and job creators; we must instead unleash America’s full potential.”
The Tax Cuts and Jobs Act lowers individual tax rates for low- and middle-income Americans to Zero, 12%, 25%, and 35% while continuing to maintain 39.6% for high-income Americans, eliminates loopholes for special interests, doubles the standard deduction, increases the Child Tax Credit, reduces the tax rate on small businesses, lowers the corporate tax code to 20%, and modernizes our international tax system by leveling the playing field for America’s global businesses so they can compete and win around the world.
Here’s how the Tax Cuts and Jobs Act will impact Virginia’s First District:
- 59,094: That’s how many families in VA-01 currently claim the child tax credit. Under the Tax Cuts and Jobs Act, the child tax credit increases by $600 per child.
- 44,717: The number of taxpayers in VA-01 who have small business income. The Tax Cuts and Jobs Act reduces the tax rate on the hard-earned business income of Main Street job creators to no more than 25%.
- 9,970: The number of taxpayers in VA-01 that are effected by the Alternative Minimum Tax (AMT). The Tax Cuts and Jobs Act repeals the AMT so taxpayers won’t have to calculate their taxes twice each year and pay the higher amount.
- 149,325: Hundreds of thousands of taxpayers in VA-01 itemize their deductions. The Tax Cuts and Jobs Act simplifies the tax code so 9 in 10 people will be able to file their taxes on a postcard.
Congressman Rob Wittman represents the 1st District of Virginia. He serves on the House Natural Resources Committee and the House Armed Services Committee, where he is the Chairman of the Seapower and Projection Forces Subcommittee.
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