Bergman Votes to Provide Tax Relief For Residents of Michigan's First DistrictFollowing his "yes" vote on H.R. 1 - The Tax Cuts and Jobs Act, Congressman Jack Bergman released the following statement:
Washington,
December 19, 2017
"I have been an advocate of pro-growth tax reform long before I announced my candidacy for Congress. The people who work so hard to provide a living and a future for their families in Michigan deserve to keep the money they’ve earned. The Tax Cuts and Jobs Act will provide real reform to our burdensome tax code and help stimulate the economy. These reforms allow small-businesses and hard-working Americans to keep more of their money. In Michigan’s First District, we understand and appreciate the value of every dollar we earn. By February of 2018, constituents in the First District will begin to see more money in their paychecks. This is a once-in-a-generation opportunity, and as your Representative in Congress, I’m proud to deliver on the promises I’ve made to you.”
Among many notable accomplishments, the Tax Cuts and Jobs Act will: • Roughly doubles the Standard Deduction; • Expands the Child Tax Credit from $1,000 to $2,000 for each child; • Preserves the Adoption Tax Credit; • Preserves the deduction for charitable contributions; • Preserves the deduction for medical expenses; • Eliminates the Obamacare individual mandate penalty; • Lowers the corporate tax rate to 21%; • Allows businesses to immediately write off the full cost of purchases of equipment; and • Provides support for Graduate students by reducing the value of tuition from their taxes. |
