WASHINGTON — U.S. Sen. John Thune (R-S.D.), a member of the tax-writing Senate Finance Committee, issued the following statement regarding passage of the Tax Cuts & Jobs Act out of the Finance Committee today.
“Today Congress is one step closer to delivering a pro-growth tax reform package to the president’s desk,” said Thune. “Senate Republicans on the Finance Committee came together with the goal of ensuring Americans get to keep more of their hard-earned money. The provisions in our plan deliver that. Our plan cuts taxes for Americans of all income groups and provides a substantial tax cut for middle-income families. By doubling the standard deduction, cutting tax rates, and increasing the child tax credit, we’re able to put more money in the pockets of everyday Americans. And by repealing Obamacare’s unpopular individual mandate tax, we’re able to provide even more relief for middle-income earners. I commend Chairman Hatch for his leadership and my colleagues on the committee for their contributions. I look forward to continuing our work with members of both the Senate and the House to get this bill across the finish line.”