My Take: Tax Reform that Works for Texans
This week, the House passed a final budget resolution. This is a key step to advance tax reform.
It’s been more than 30 years since Congress passed major tax reform. Over that time, the tax code has become bloated and full of carve-outs for special interests, and swelled to seven tax brackets and more than 70,000 pages.
Texans spend too much time working through a tangled mess of rules just to file their taxes, and too many haven’t seen a meaningful pay increase in years.
That is why now is the time for Congress to act. This budget begins to deliver on my commitment to the people of the twelfth district to grow our economy and deliver real tax relief for individuals, families, and businesses. As Chairwoman of the Defense Appropriations Subcommittee, it was also vital we passed a budget to lay the groundwork to rebuild our military.
Congress and the Administration will now craft legislation that will reduce taxes and grow jobs and paychecks for all Americans. Reforms like increasing the standard deduction for individuals and families, removing special interest loopholes, and repealing the death tax will make the tax filing process easier and simpler. All told, these tax cuts will boost wages for the typical worker by at least $4,000.
I am looking forward to working with my colleagues over the coming weeks to make taxes lower, simpler, and fairer. I will be sure to keep you updated as this important legislation works its way through Congress.