Tim Scott Profile picture
Dec 19, 2017 11 tweets 6 min read Twitter logo Read on Twitter
Today Congress will pass the first comprehensive #TaxReform in a generation – a huge win for hardworking families across the country.
#TaxReformFacts – It will help the working and middle class by doubling the standard deduction, and allowing folks to write off their state and local taxes up to $10,000 #WinForFamilies
#TaxReformFacts – Repealing the individual mandate means removing a tax mainly placed on those making less than $50k a year. The bill will not take health care away from anyone, it will instead actually expand the medical expense deduction. #WinForFamilies
#TaxReformFacts – The bill contains my Investing in Opportunity Act, which will incentivize long-term investment in distressed communities. #WinForFamilies #IIOA
#TaxReformFacts – We are helping families by doubling the child tax credit, and preserving the child and dependent care credit as well as the adoption tax credit. #WinForFamilies
#TaxReformFacts – Our bill will help families save for education by allowing the use of 529s for elementary, secondary and higher education. It also preserves current treatment of graduate student tuition waivers and the teacher deduction #WinForFamilies
#TaxReformFacts – By restructuring our corporate tax rate, estimates show hundreds of thousands of jobs will be created across the country. Thousands of CEOs have said they will raise wages and benefits #WinForFamilies
#TaxReformFacts – Under the final bill, a typical family of four making $73,000 a year will see a 58 percent reduction in their taxes next year. #WinForFamilies
#TaxReformFacts – Under the final bill, a single parent of one child, earning $41,000 will see a 73% reduction in their taxes next year. #WinForFamilies
#TaxReformFacts – Under the final bill, married small business owners making $100,000 a year will see a reduction of 24% in their taxes next year. #WinForFamilies
#TaxReform is a win for the American people and a win for the American economy. More Americans will take more home in their paychecks, and the jobs of the future will be created right here at home.

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