Cornyn: Tax Bill Written with Middle Class Families in Mind

The simple truth is that the Senate bill will lower tax bills on millions of working-class Americans. It will lower taxes not raise them on the working class . . . The Senate tax plan was written with working families in mind.  Texas Insider Report: WASHINGTON D.C. On the Senate floor U.S. Senator John Cornyn (R-TX) discussed the importance of tax reform to helping middle class families keep more of their hard earned money. Excerpts of Sen. Cornyns remarks are below and video of his remarks can be found here.  

We set about reforming our tax code with three goals in mind… How do we simplify the code? How do we let people keep more of what they earn more take-home pay a better standard of living and how do we make Americas economy more competitive?" You would think those would be the sorts of things that our friends across the aisle would want to work with us on but apparently not. Instead what we get is these sort of reckless and really buffoonish sort of allegations." The simple truth is that the Senate bill will lower tax bills on millions of working-class Americans. It will lower taxes not raise them on the working class. Again by nearly doubling the standard deduction and lowering rates across the board and doubling the child tax credit the Senate tax reform plan will lower taxes for every income group. The Senate tax plan was written with working families in mind." A family of four earning a median income of about $70000 will see a $2200 savings in their tax bill each year. It may be easy for folks living in the rarefied air in Washington D.C. to shrug that off and say $2200 is no big deal to me. But to the people I represent $2200 tax savings a year is a big deal."

Senator John Cornyn a Republican from Texas is a member of the Senate Finance Intelligence and Judiciary Committees.