Crapo Highlights Tax Wins for Hardworking Americans and Main Street
Washington, D.C.—U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) today released an updated revenue estimate from the Joint Committee on Taxation’s (JCT) of the Finance Committee’s tax title, which demonstrates significant tax relief for working families and small businesses. “If the Trump tax cuts expire, taxpayers in all income groups would face massive tax hikes and […]
What They Are Saying: Senate Republicans’ Legislation Delivers for American Workers, Businesses
Washington, D.C.–The Senate Finance Committee’s legislation prevents a more-than $4 trillion tax hike and makes the 2017 Trump tax cuts permanent, giving American families and businesses the certainty they need to invest and plan for the future. Individuals and organizations committed to promoting economic opportunity and prosperity for all Americans are speaking out in support […]
New Analysis: Senate Tax Bill Drives Deficit Reduction by Igniting Economic Growth
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Chairman of the Senate Finance Committee, issued the following statement on a new analysis from the Council of Economic Advisors (CEA) showing the Senate tax legislation will create more than $2 trillion in deficit reduction thanks to permanent provisions that power economic growth and incentivize investment. “Making the successful […]
Chairman Crapo and Chairman Smith Applaud Trump Administration for International Tax Agreement Protecting American Workers and Businesses
Washington, D.C.–After Secretary of the Treasury Scott Bessent announced a forthcoming international tax agreement, Senate Finance Committee Chairman Mike Crapo (R-Idaho) and House Ways and Means Committee Chairman Jason Smith (R-Missouri) issued statements regarding Section 899 and the OECD Pillar 2 / global minimum tax project: “We applaud President Trump and his team for protecting the interests of American workers […]
Republicans are Powering the Economy Through Pro-Growth Tax Policy
Washington, D.C.—Republicans’ legislation permanently extends critical pro-growth provisions and introduces new incentives for domestic investment, providing certainty for American job creators to spur domestic economic activity and invest in workers. Restores and makes permanent critical business provisions: Full expensing for domestic R&D to encourage domestic innovation. Full expensing for new capital investments, like machinery and […]
Republicans’ Legislation Achieves Record Savings
Washington, D.C.–The Finance Committee’s legislation delivers record savings by slashing Biden-era Green New Deal spending and rooting out waste, fraud and abuse in federal spending programs. America First Energy Policy The legislation eliminates hundreds of billions of dollars of the Green New Deal subsidies while supporting more reliable energy sources, making energy affordable again. Eliminates […]
Crapo Statement on JCT Analysis of Tax Title
Washington, D.C.–Senate Finance Committee Chairman Mike Crapo (R-Idaho) today released the Joint Committee on Taxation’s (JCT) revenue estimate of the Finance Committee’s tax title, which shows that under a current policy baseline, the legislation has a net revenue impact of $442 billion. “Washington has a spending problem, not a tax problem. Extending the Trump tax cuts […]
Republicans are Preventing the Largest Tax Hike in History
Washington, D.C.–The 2017 Trump tax cuts reduced taxes for Americans of all income levels and the middle class received the largest proportional benefits of the cuts. If Congress fails to extend this tax relief, Americans will face a more-than $4 trillion tax hike and those making under $400,000 per year will be hit hardest. Permanently […]
Chairman Crapo Releases Finance Committee Reconciliation Text
Washington, D.C.–U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) today released legislative text within the Finance Committee’s jurisdiction for inclusion in Senate Republicans’ budget reconciliation bill. “This bill prevents an over-$4 trillion tax hike and makes the successful 2017 Trump tax cuts permanent, enabling families and businesses to save and plan for the future. “It […]
Crapo, Bessent Stress Need to Pass Tax Bill
Washington, D.C.–At a U.S. Senate Finance Committee hearing with U.S. Treasury Secretary Scott Bessent, Chairman Mike Crapo (R-Idaho) emphasized that allowing the 2017 Trump tax cuts to expire would result in widespread job losses, reduced capital investment and a more-than $4 trillion tax hike on American families and businesses. Secretary Bessent warned the consequences would […]