The Briefing Room
General Category => Politics/Government => Topic started by: Elderberry on April 12, 2019, 05:08:50 pm
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Cruz.senate.gov 4/11/2019
https://www.cruz.senate.gov/?p=press_release&id=4425 (https://www.cruz.senate.gov/?p=press_release&id=4425)
WASHINGTON, D.C. - U.S. Sen. Ted Cruz (R-Texas), today reintroduced his bill to ensure the historic GOP tax cuts on individuals are permanent. Sens. Joni Ernst (R-Iowa), Marsha Blackburn (R-Tenn.), Kevin Cramer (R-N.D.), and Mike Braun (R-Ind.) joined Sen. Cruz in introducing the bill. The full text of the bill may be viewed here.
"Last year, as a result of Republican leadership in both houses of Congress, Texans and Americans across the country saw a booming economy and higher wages," Sen. Cruz said. "I am reintroducing my bill today as I believe that making the historic tax cuts permanent is a step forward for Congress to deliver on our promises made to the American people. I am grateful for the support of Senators Ernst, Blackburn, Cramer and Braun in supporting this crucial legislation, and hope our Democratic colleagues will put aside partisan politics and join us in this effort to make our historic tax cuts for hardworking middle class families permanent."
"Last year alone, Iowans saved nearly $1.8 billion in federal taxes. By lowering tax rates, and doubling the standard deduction and child tax credit, the Tax Cuts and Jobs Act has helped families throughout Iowa keep more of their hard-earned dollars. We need to keep this momentum going," said Senator Joni Ernst. "With this legislation, tax cuts for families and small businesses will be permanent, allowing folks across our state to better plan for their future."
"Tennesseans and hard-working Americans across the country are already seeing the benefits of the Tax Cuts and Jobs Act on their pocketbooks," said Senator Blackburn. "It's time for us to make these tax cuts permanent, so taxpayers can continue to see more money in their paychecks."
"The tax cuts are working in North Dakota, and they are working for the American people," said Senator Cramer. "Given their strong record of results, why would we not make these job-creating policies permanent?"
"As a business owner, I know firsthand how President Trump's tax relief has kicked our economy into high gear and empowered job creators to pass savings on to their employees through higher wages and lower healthcare costs like I did in my company," said Senator Braun. "Let's make these pro-growth tax cuts permanent to keep our economy firing on all cylinders for Hoosier workers and their families."
Key provisions of the bill include:
• A permanent extension of the lower rate for pass-through entities;
• A permanent extension of the increase in the standard deduction;
• A permanent increase and modification of the Child Tax Credit;
• A permanent increase in the limitation on charitable contributions;
• A permanent extension of changes to individual deductions, including SALT;
• A permanent increase in estate and gift tax exemption;
• A permanent increase in Alternative Minimum Tax (AMT) exemption.
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I would love to see it pass ... but tax cuts aren't exactly the DEMS favorite flavor.
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I would love to see it pass ... but tax cuts aren't exactly the DEMS favorite flavor.
Don't forget the SALT limit on deductions hits Rat states hardest.
You can bet this tax bill will never be made permanent.
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The big problem for republicans is they passed so many Obamacare repeals, when it also didn't matter, that passing legislation after they lost the House raises my cynicism level to 10 out of 10
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How can this originate in the Senate?
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Preserving tax cuts for the middle class? WHAT F*&^ING TAX CUTS?
I just did our taxes, and we ended up paying thousands more in taxes, and we are in that income level that was told would receive thousands. It is all a damn lie.
There is no way Trump gets re-elected with this tax code. He lost my vote long ago, and this is salt in the wound. He lied about the H1-b Visa Program, which would generate hundreds of thousands of jobs for USA citizens.
Plus, companies outsourcing systems work to countries like INdia, China, the Ukraine, etc, they should be forced to pay a tax that is equivalent to the lost revenue for taxes. There is a way to bring jobs to the USA very quickly. But Trump and Congress do nothing.
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Preserving tax cuts for the middle class? WHAT F*&^ING TAX CUTS?
I just did our taxes, and we ended up paying thousand more in taxes, and we are in that income level that was told would receive thousands. It is all a damn lie.
There is no way Trump gets re-elected with this tax code. He lost my vote long ago, and this is salt in the wound. He lied about the H1-b Visa Program, which would generate hundreds of thousands of jobs for USA citizens.
Plus, companies outsourcing systems work to countries like INdia, China, the Ukraine, etc, they should be forced to pay a tax that is equivalent to the lost revenue for taxes. There is a way to bring jobs to the USA very quickly. But Trump and Congress do nothing.
But corporations got a big tax cut. From 35% to %21. And Kushner is working on more welfare for them too.
Yep that is us also. I didn't see it but both of our children are grown and we don't have them to claim anymore. Still that was the same last year and this year we got less back. If this was anything to talk about we should have gotten more. I purposely have higher withholding so I don't have to pay. I worry that even doing that we are getting close to paying.
But corporations got a big tax break. They went from %35 to %21.
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Our tax situation changed from last year, because my husband officially retired. He worked for several months and taxes paid offset our sources of income, so we got a little back this year, not much, but better than owing.
However, I started drawing SS last month. I don't know if the withholding on S.S. is going to offset other income. So, can't really say how the 'tax cuts' are going to now affect us. Trying to keep up with taxes is tricky as they seem to change the rules from year to year.
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I had to pay this year just over a Grand. I couldn't compare to last year as last year we had a lot of dental bills and I had to pay taxes on some 401k post tax money I moved into Roth. Turns out it was post tax in name only and most all of it was taxable. And I turned 65 and I had a small pension begin. I only worked for them for about 4 years, but was vested the day I walked in the door (Govt. Contract Provision). When my dad retired he started receiving a pension from Humble Oil(Exxon) and he only worked for them a few months right after his WWII discharge. I'm going to bump my exemptions, but I prefer to have to pay a little, rather than get a return(pay too much).
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Preserving tax cuts for the middle class? WHAT F*&^ING TAX CUTS?
I just did our taxes, and we ended up paying thousand more in taxes, and we are in that income level that was told would receive thousands. It is all a damn lie.
There is no way Trump gets re-elected with this tax code. He lost my vote long ago, and this is salt in the wound. He lied about the H1-b Visa Program, which would generate hundreds of thousands of jobs for USA citizens.
Plus, companies outsourcing systems work to countries like INdia, China, the Ukraine, etc, they should be forced to pay a tax that is equivalent to the lost revenue for taxes. There is a way to bring jobs to the USA very quickly. But Trump and Congress do nothing.
First time in years I didn't have to pay in April --- and I had more money in my wallet all year. Told them to just keep the (small) refund and apply it to 2019.
I was pleasantly surprised and quite pleased. Most benign tax day in a decade. happy77