Since coming to Congress, one of my highest priorities has been to bring relief to our nation’s hardworking taxpayers. This country was built on their backs, and how have we thanked these individuals? By allowing the status quo to completely fail their families and leave them struggling to make ends meet every month.
As your Representative, I want to make it easier for these families to succeed — to run their own businesses or to send their children to college — and to see their hard work rewarded with more money in their pockets. That is why I am fighting for tax reform so that Americans at every income level can keep more of their paychecks to spend, save, and invest their money as they see fit.
Last month, House Republicans put forth a plan for the first major overhaul of our tax code since 1986, and middle class families are at the heart of it. We are lowering tax rates by simplifying seven tax brackets into three: 12 percent, 25 percent, and 35 percent. The plan also increases the standard deduction for individuals from $6,000 to $12,000, and increases the deduction for married couples from $12,000 to $24,000. That means that some families will now find themselves in a fourth tax bracket: the 0 percent tax bracket. The first $24,000 made is going straight into their pocket, tax free. And for those who previously fell in the 15 percent bracket, their rates will decrease to the 12 percent bracket. All of this translates to more money in the bank accounts of those who need it, but more importantly, who deserve it.
The plan also supports working parents, who face tough choices every day when it comes to care for their children. That’s why we are increasing the Child Tax Credit and making the first $1,000 refundable so parents can afford childcare. Parents have enough to worry about without the added stress of ensuring that their child is safe when they can’t be there.
Additionally, under this plan, the wealthy are forced to pay their fair share. By simplifying the tax code, fraud and abuse are less likely, and it stops those who have high paid accountants on speed dial from cheating the system. We are closing loopholes for special interests that keep rates artificially high for every taxpayer, and prioritizing families over big business. That means that fundamental deductions that help families, like those for charitable giving and mortgages are in, and unnecessary, duplicitous itemized deductions created by lobbyists in Washington, D.C. are out.
I am confident that this plan will be a win for families, and a win for families is a win for America. I’d encourage you to read the plan for yourself: go to fairandsimple.gop.
Congressman Steve Stivers represents Ohio’s 15th Congressional District in the United States House of Representatives. He can be contacted at his Washington, D.C. office at 202-225-2015, Hilliard office at 614-771-4968, Lancaster office at 740-654-2654 or Wilmington office at 937-283-7049.