Republicans are Providing Tax Relief to Working Families and Main Street

Washington, D.C.—In addition to making the 2017 Trump tax rates permanent, Republicans are working to deliver additional tax relief for American families, communities and small businesses. 

Investments in workers and small businesses:

• No tax on tips for millions of tipped workers.
• No tax on overtime for millions of America’s hourly workers.
• No tax on auto loan interest for new cars made in the U.S.
• Repeals the Democrats’ onerous IRS reporting requirements on gig workers.
• Increases the 1099-MISC threshold, reducing the paperwork burden for small businesses and workers.

Investments in families, seniors and children:

• Strengthens employer-provided childcare credit and boosts childcare assistance.
• Creates school choice tax credits to expand education freedom and opportunity for students.
• Provides a $6,000 bonus exemption to millions of low- and middle-income seniors, slashing their tax burden.
• Enhances 529 savings accounts to make education more affordable for families.
• Establishes savings accounts for newborns, building financial security for the next generation.  

Click HERE for a bill overview.

Click HERE to view text of the Finance reconciliation bill.

Click HERE for a section-by-section.

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