I believe that Americans deserve a tax code that that is easy to understand and gives working citizens an opportunity to reap the benefits of hard-earned tax dollars. The tax code should not be so complex that the people who abide by its provisions cannot understand it, and should never be used as a means to enforce bad policies. We need significant tax reform to unleash the full economic potential of the private sector, written by people with real-world experience, not government bureaucrats.
That's why I am proud of the Tax Cuts and Jobs Act that was signed into law in December 2017 by President Trump. The Tax Cuts and Jobs Act (H.R. 1) overhauls America’s tax code to deliver historic tax relief for workers, families and job creators, and revitalize our nation’s economy. By lowering taxes across the board, eliminating costly special-interest tax breaks, and modernizing our international tax system, the Tax Cuts and Jobs Act will help create more jobs, increase paychecks, and make the tax code simpler and fairer for Americans of all walks of life.
With this bill, the typical family of four in Oklahoma’s Second District earning the median family income of $59,155 will receive a tax cut of $1,643. An Oklahoman earning $40,770 without kids will receive a $780 tax cut on average.
View the policy highlights of the Tax Cuts and Jobs Act Conference Report at this link.
In February 2018, the Internal Revenue Service released new withholding tables for employers. Click here to learn more about how this may affect your paycheck.
Perform a quick "paycheck checkup" by clicking here and using the IRS Withholding Calculator.
Still have questions? Visit the IRS's frequently asked questions about withholding tables.
For more information concerning my work and views on tax reform, please contact me.
Original source can be found here.
