Values
• The goal of tax legislation should be to let hard-working Americans keep more of their money, stimulate economic growth, and encourage hiring and investment here.
• The Tax Cuts and Jobs Act, enacted in December 2017, significantly improved upon the old tax code. It lowered rates for most individuals, got rid of many loopholes, and encouraged businesses to bring back money from overseas.
• The Tax Cuts and Jobs Act has been good for American jobs and pocketbooks. Any new tax legislation should build on this success, including making the recent tax cuts for middle-class families permanent.
Actions
• Voted for the Tax Cuts and Jobs Act in 2017.
• Encouraged the tax reform conference committee to retain the Historic Tax Credit, which benefits the economy of some of our older towns and cities. The credit was retained. For this, I was recognized as a “Historic Tax Credit Champion” by the National Trust for Historic Preservation.
• Co-sponsored H.R. 4886, the Permanent Tax Cuts for Americans Act, which would make the individual provisions of tax reform permanent.
• Voted for the Retirement, Savings, and Other Tax Relief Act, the Protecting Family and Small Business Tax Cuts Act, the American Innovation Act, and the Family Savings Act as part of additional efforts to reform the tax code.
• Original co-sponsor of H.R. 937, the Universal Savings Account Act, which would permit individuals to set up a tax-free savings account and for which withdrawals – for any reason at any time – are tax-free. This legislation would allow up to $5,500 in contributions to the account each year.
