Rep. Comstock On Tax Reform Framework
Washington, DC – Congresswoman Barbara Comstock (R-VA) released the following statement after the House, Senate, and the White House released the Tax Reform Framework earlier today:
“Today, the House, the Senate, and the White House unveiled the framework for tax relief for families and businesses. To create a healthy economy we must put more money back into the hands of hard working taxpayers. The last time the tax code was reformed was in 1986. As I travel throughout the District I hear from families and businesses both large and small that they want a tax code that is more efficient, effective, and accountable. America’s corporate tax rate at 35% is the highest among developed countries and this framework will significantly decrease that tax rate to 20% so business can grow and expand leading to more jobs here at home.
“I am also pleased to see an expanded child tax credit included in the framework since it has been over a decade since the child tax credit was last expanded. I have introduced H.R. 3833, the Expanded Child Tax Credit Act which would double the current tax credit from $1,000 to $2,000 per child so that families will have more money in their pockets. I have also cosponsored H.R. 3632, the Promoting Affordable Childcare for Everyone (PACE) Act which will help middle class and low-income families with tax credits for childcare, and I hope to see this included in the final package given the high cost of childcare for two earner families.
“I look forward to working on this tax relief package over the coming weeks and months.”