WASHINGTON, D.C. - Representative Charlie Dent (PA-15) voted in support of the effort to move the national tax reform and reduction debate further today. He released the following statement:
“The tax code is too long, more than 70,000 pages, and too complicated. I supported the legislation today because it is a strong first step to providing all Americans a fairer and simpler tax code; reducing taxes for many Americans; and lowering taxes on American businesses to allow them to invest more in the United States economy, increase wages to workers, and create more jobs here in our country. Tax rates on American companies are some of the highest of developed countries.
This legislation will lower taxes for many Americans by lowering tax rates, doubling the standard deduction, and establishing a new family tax credit. According to estimates, a vast majority of America’s middle class will see a reduction in their taxes of between $1,100 and $1,600 because of this bill.
For businesses, the corporate tax rate is lowered to 20% and our international tax system is modernized by moving to a “territorial” system. According to the U.S. Chamber of Commerce, the changes in this bill will lead to the creation of 975,000 jobs in the U.S., including more than 39,600 jobs in Pennsylvania.
As the bill continues to move through the legislative process, I will continue to evaluate its impact on Pennsylvania.”
CONTACT: Shawn Millan (610) 770-3490