Yoder Statement on House Passage of Tax Reform 2.0
Washington, DC – This afternoon, the House of Representatives passed a package of bills referred to as Tax Reform 2.0. These bills lock in the historic reforms of the Tax Cuts & Jobs Act to protect middle-class and small business tax cuts, promote family savings, and advance the next generation of entrepreneurs. Representative Kevin Yoder (R-KS) issued the following statement after voting in favor of these bills:
“In less than a year under our new tax code, Americans have already felt the positive impacts of tax reform through more jobs, higher wages, and lower taxes. This week, I voted to build on that success and set our economy up for long-term growth by making the middle-class and small business tax cuts permanent. Tax Reform 2.0 also focuses on helping families save money to start a family, send their kids to college, or prepare for retirement. Finally, the legislation we passed will spur startups and innovation, which in turn will drive economic growth for years to come. Tax Reform 2.0 is part of our ongoing commitment to ensure that our tax code is helping Americans get ahead, rather than holding them back.”
Tax Reform 2.0 included three separate bills:
- H.R.6760, the Protecting Family and Small Business Tax Cuts Act: makes permanent the tax cuts for the middle class and small businesses, as well as other family-focused provisions like the doubled Child Tax Credit.
- H.R. 6757, the Family Savings Act: reforms the tax code to help Americans save for important life events, like the birth of a child, education, and retirement.
- H.R. 6756, the American Innovation Act: creates new incentives to help start-up businesses get off the ground.