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December 19 2017

Capitol Hill Just Passed a #GoodDealforWomen Through Tax Reform

by Patrice Lee Onwuka

The House of Representatives passed historic tax reform today and it’s a #GoodDealforWomen!

The Tax Cuts and Jobs Act is the final legislation that combines the tax reform bills passed by the House and Senate. It promises to:

  • cut taxes for individuals, small businesses, and corporations;
  • preserve important tax benefits for families to adopt, save for college and educational expenses, give to charity, and save for retirement;
  • make U.S. businesses more competitive;
  • eliminate the tax penalty of the unpopular individual healthcare mandate from the Affordable Care Act.

IWF released the following statement about the House's passage of the bill:

“Every American household can expect a tax cut in 2019 with the biggest tax reductions going to middle-class families. American businesses will become more competitive as they reinvest more of their earnings in their work and their people, through higher wages and more job opportunities. Low-income Americans can finally be free from the costly tax penalty from the unpopular individual mandate in the Affordable Care Act.”

It's been over 30 years since the last time our tax code was overhauled. Many millennials weren’t even born then!

Tax reform is important for women, workers, families, and businesses as we’ll enjoy bigger paychecks, the ability to control more of our resources, better-paying jobs and rising wages, spending less time and money complying with the tax code, and greater econominc growth. Read our fact sheet to learn more about how tax reform will help you and your family.

The U.S. Senate will consider the bill next. We hope that Congress will finish the job and deliver historic tax reform to every American household by the end of the year. We'll keep you posted on the bill's progress.

Independent Women’s Forum’s mission is to improve the lives of Americans by increasing the number of women who value free markets and personal liberty. Sister organization of Independent Women’s Voice.
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