After voting to approve the Conference Report for HR 1, the Tax Cuts and Jobs Act, Congressman Bob Gibbs released the following statement:
Today's vote is a win for the American people. This is real tax relief for Americans at every income level. The Tax Cuts and Jobs Act lowers rates, simplifies the tax code, encourages economic growth, and helps families. While critics and naysayers are busy defending the status quo of higher taxes and special interest loopholes, House Republicans just delivered on our promise of real tax cuts for middle and working-class families.
The typical family of four will get to keep $2,059 more of their own money because of the Tax Cuts and Jobs Act, a 58% tax cut. We're preserving and expanding the child tax credit to help working families cover the expenses of raising kids. This bill helps Americans with expensive medical bills and it ends Obamacare's individual mandate.
Next year, millions of workers will see larger paychecks, families will be able to save more for things like college or a vacation, American businesses will drive real economic growth, and our nation will be more competitive in the global economy.