Conservatives have reason to celebrate as the largest tax cut in over three decades passed Congress this week.
Next stop, the President’s desk.
Heritage has long pushed for full-spectrum tax reform and this is a great step in the right direction.
According to Heritage tax expert Adam Michel:
The Tax Cuts and Jobs Act is the most sweeping update to the U.S. tax code in more than 30 years. The recently released conference report would lower taxes on business and individuals, and unleash higher wages, more jobs, and untold opportunity through a larger and more dynamic economy.
The conference report is a serious effort to reform a complex and badly broken system that provides significant tax relief to the vast majority of taxpaying Americans.
For a quick look at what is in the final bill, view this chart created by Michel.
Also, to hear a more detailed analysis of how this bill will impact the middle-class listen to this podcast from The Daily Signal.
What are your thoughts on the final tax reform bill?