Graves Statement on Tax Reform
Congressman Garret Graves, (R-South Louisiana) issued the following statement after the U.S. House of Representatives passed the Tax Cut and Jobs Act (H.R. 1).
“Today's historic vote to modernize our tax code will help hardworking Louisianans keep more of their paychecks. The bill also strips loopholes, bailouts and handouts while improving the global competitiveness of U.S. small businesses and employers. This will improve the health of the economy, increase wages and create more employment opportunities in Louisiana and other states. All income brackets are reduced by the legislation and the standard deduction is nearly doubled. To put this in perspective, the average American family of four making $55,000 will pay no taxes.
This is a huge win and I look forward to working together to continue to address priorities and help to perfect the bill through the legislative process. Specifically, we need to ensure students and retirees are treated fairly and that the value of a reformed historic and new market credit program is considered.
After 31 years, we are finally on track to have fair, simple and lower taxes.”