Last week, I voted to pass H. Res. 1156, Expressing support for tax policies that support working families.
This resolution expresses support for tax policies provided by the Working Families Tax Cuts that support working families. Last year, Republicans passed H.R. 1, which President Trump signed into law, enacting the largest tax cut in American history, lowering rates for working families, eliminating taxes on tips and overtime pay, and expanding incentives for domestic manufacturing, while investing in border security.
It also prevented a $2.6 trillion tax hike on Americans earning under $400,000 per year, and permanently included the 2017 Trump tax cuts, saving the average taxpayer from a 22% tax hike. As a result, most Americans are expected to receive an average tax cut of $3,750. 45% of tax returns filed this tax season have claimed at least one of these new deductions:
- No tax on Social Security – Up to $6,000 annual reduction for American seniors.
- No tax on tips – Increasing take home pay for four million tipped workers by an average of $1,300.
- No tax on overtime – delivering a $90 billion tax cut on overtime pay.
- A $10,000 auto loan interest deduction for new American-made cars.
Congressman Daniel Webster represents The Villages in the U.S. House of Representatives.