Real World Impact: Typical Family Saves Nearly $2,200 Under Senate Tax Plan
The Senate Finance Committee advanced a tax reform proposal this week that will create more jobs, increase paychecks, and make the tax code fairer for middle-class families: A family of four with income of around $73,000 (median family income) will see a tax cut of nearly $2,200. Their tax bill will fall from what they […]
Making History, Finance Committee Clears Comprehensive Tax Overhaul
After the Senate, House and administration came together to release a unified framework for comprehensive tax reform, the tax-writing committees got to work. Last night, the Senate Finance Committee passed comprehensive legislation to overhaul the nation’s broken tax code and create a fairer system that will move America forward, boost job growth, and increase hard-working […]
Repealing the Individual Mandate Tax Will Benefit Middle Class
The Finance Committee’s tax reform plan includes the repeal of the regressive and punitive individual mandate tax, providing relief for working-class families who may not be able to afford or may not want to purchase health insurance. The proposal has received high-praise from thought-leaders. Wall Street Journal’s Editorial Board agrees: “Republicans are right to want […]
Finance Committee Passes Historic Tax Overhaul
WASHINGTON – Senate Finance Committee Chairman Orrin Hatch (R-Utah) released the following statement after advancing the Tax Cuts and Jobs Act tonight after a near week-long markup in the Senate Finance Committee: “From the outset of this process, we sought to craft a strong pro-growth, pro-jobs, pro-family tax overhaul that will move America forward and […]
A Tax Plan to Provide Relief for the Middle-Class
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 […]
Hatch Remarks at Finance Committee Markup of Tax Cuts and Jobs Act
WASHINGTON – Senate Finance Committee Chairman Orrin Hatch (R-Utah) today delivered the following remarks at the committee markup of the Senate tax overhaul package, the Tax Cuts and Jobs Act: Today, we will continue our consideration of the chairman’s mark, as modified, for the Tax Cuts and Jobs Act. Having walked through both the mark […]
Senate Tax Plan Designed To Lift American Families
For the last decade, American families have struggled with flat wages and a sluggish economy. The Finance Committee’s plan to overhaul the tax code was designed to provide tax relief and boost take-home pay for middle-income families. Under the Senate plan, a typical family of four earning the median family income of around $73,000 will […]
The Obamacare Individual Mandate Tax is Failing the American People
Obamacare’s individual mandate forces Americans to purchase health insurance, even if they cannot afford or do not want it, or face a steep and punitive tax. Included in Chairman Hatch’s modified mark of the Tax Cuts and Jobs Act is the repeal of Obamacare’s burdensome individual mandate tax. Here’s how the policy is failing Americans: […]
Hatch Remarks at Finance Committee Markup of Tax Cuts and Jobs Act
Today we will continue our consideration of the chairman’s mark for the Tax Cuts and Jobs Act. Last night, as promised, we delivered to members a modification that we will incorporate into the mark this morning. After that, we will walk through the modification, and members will get an opportunity to […]
NFIB Endorses Senate Tax Bill
WASHINGTON – The Senate Finance Committee’s modified chairman’s mark earned the endorsement of the National Federation of Independent Business (NFIB). “On behalf of the National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, I am writing to thank you and your staff for your continued commitment to America’s small businesses,” NFIB […]