Barrasso Statement on Passage of Historic Tax Reform Bill

Barrasso Statement on Passage of Historic Tax Reform Bill

WASHINGTON, D.C.-- Today, U.S. Senator John Barrasso (R-Wyo.) issued the following statement regarding his vote to support the final Tax Cuts and Jobs Act.

"Today, Congress passed a once-in-a-generation tax relief bill that will allow people in Wyoming and across the country to keep more of their hard-earned money. Americans will now have a simpler, fairer tax code that will grow our economy, increase wages, and create jobs.

"In addition to lowering the rates Americans have to pay, the bill doubles the child tax credit, allows more medical-expense deductions and keeps tax relief for retirement savings, charitable giving and mortgage interest. It nearly doubles the standard deduction to let folks keep more of their paychecks and save time when they file their taxes.

"It also repeals one of the most unfair parts of Obamacare - the individual mandate tax. This means Americans will no longer pay a penalty if they decide that overpriced Obamacare insurance is not right for them.

"I have always believed the best way for Washington to give Americans the most value for their money is to let them keep it at home. This bill does that, while making American businesses more competitive and unleashing the full potential of our economy."

http://barrasso.senate.gov