I look forward to working with my colleagues on both sides of the aisle as we move this bill to the floor after Thanksgiving. "
Texas Insider Report: WASHINGTON D.C. U.S. Senator John Cornyn (R-TX) released the following statement after the Senate version of the
Tax Cuts and Jobs Act which includes three bills hes previously introduced passed out of the Senate Finance Committee:
Weve now made significant progress towards cutting taxes for Texans and simplifying our antiquated tax code" Sen. Cornyn said. Our bill will enable hardworking Americans to keep more money and foster a better environment for job creators to grow invest and hire. I look forward to working with my colleagues on both sides of the aisle as we move this bill to the floor after Thanksgiving. "
The
Tax Cuts and Jobs Act includes several pieces of legislation previously introduced by Sen. Cornyn:
- Sinai Service Recognition Act: Provides members of the Armed Forces serving in the Sinai Peninsula of Egypt with the same tax benefits as those serving in a combat zone.
- A provision to the Small Business Taxpayer Bill of Rights: Waives the IRS fees on installment fees for certain taxpayers who agree to make automated payments through a debit account. Allows low-income taxpayers who are unable to make payments electronically and remain subject to the required user fee to be reimbursed upon the completion of the installment agreement.
- Wrongful Convictions Tax Relief Act: Builds upon a proposal championed by Sen. Cornyn that was enacted in the Protecting Americans from Tax Hikes (PATH) Act of 2015 by further extending the deadline for wrongfully convicted individuals to apply for tax relief on their compensation.
