Reforming the tax code and growing the economy

Tax reform and reduced regulations have set the American economy on an upward trajectory with growth eclipsing four percent. New jobs have outpaced the labor force, increasing wages and setting off a bidding war for workers in many sectors of the economy. The impact of cutting taxes and decreasing regulation cannot be understated, which is why I helped to produce a second round of reform aimed at small businesses and individuals as a member of the House Ways and Means Committee.

This second round of cuts and reforms, which passed the House during the last week of September, was comprised of three bills, each with a distinct purpose: making individual and small business tax cuts permanent, encouraging families to save more earlier for retirement, and incentivizing entrepreneurship. The Protecting Family and Small Business Tax Cuts Act will make provisions such as the tax cuts for families and the 20 percent deduction for farmers, ranchers, and small businesses permanent in order to ensure individuals and small business throughout Nebraska enjoy the same benefits as larger corporations.

 

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