November 16,2017

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A Tax Plan to Provide Relief for the Middle-Class

Finance Committee Republicans Highlight Tax Benefits for Working Families

With the Senate Finance Committee now in its fourth day of marking up its comprehensive tax reform proposal, Tax Cuts and Jobs Act, Republican Senators highlighted the significant tax cuts low-to middle income Americans would experience under their plan. 

Following are key highlights from the day: 

“The single mom with two children earning $33,000 per year would pay zero tax under present law…And after this bill passes her tax liability will be zero.” –U.S. Senator John Cornyn (R-Texas) 

“The fact is that if you’re making less than $30,000 a year, under the current tax system you’re not paying taxes…and under this new tax system that’s being presented today, you’re still not paying any taxes.” –U.S. Senator Dean Heller (R-Nev.) 

“I hope the bottom line is recognized, which is that this [bill] provides substantial tax relief, particularly for middle-class families…there will be relief for middle-class families that are feeling this stress….[and] in Ohio it’s about $2,400 for a family with the median income.” –U.S. Senator Rob Portman (R-Ohio) 

“The fact is…every single income cohort has substantial savings in taxes and virtually all middle income taxpayers are going to get a substantial tax cut.” –U.S. Senator Pat Toomey (R-Pa.)

“What we’ve stated as our objective in all of this is the desire to lower taxes for middle-income families. Those changes would make that happen. Everything the chairman’s modified mark does should accrue to those middle-income families, which has been our intention all along.” –U.S. Senator John Thune (R-S.D.) 

“Our bill gives tax relief to individuals and families across the board, with the middle class getting the largest benefit, relative to their income. We provide this relief primarily by cutting rates and expanding credits for parents and families.” –Chairman Orrin Hatch (R-Utah)