Adam Michel & Rachel Greszler - The Heritage Foundation
December 14, 2017
Next week, the House and Senate will take their final votes on tax reform. The president’s goal is to sign the legislation into law before Christmas.
Although there are still some unknown details, the important parts of the bill for most Americans are already known and would greatly improve our current, woefully out-of-date tax code.
The bottom line is that taxpayers across America can expect a tax cut. The bill would lower tax rates for individuals and businesses, double the standard deduction, and significantly increase the child tax credit.
The bill is also pro-growth and pro-American worker. The economy could grow to be almost 3 percent larger at the end of 10 years. That translates to more than $4,000 dollars per household, per year. American families could finally get a real raise.
Americans deserve to know the truth about the proposed tax reform packages. There are several myths going around about what the proposed plan would do.…