Tax Reform Bill Moves on From House Pt 1

Tax Reform Bill Moves on From House Pt 1

Bob Larson
Bob Larson
I'm Bob Larson. The Tax Cut and Jobs Act passed by House Republicans moves on to the Senate and, if passed as currently written, is designed to help middle-income earners when it comes to tax time.

Sunnyside representative Dan Newhouse says Central Washington's Ag-based economy is filled with the so-called middle class ...

DAN NEWHOUSE ... "I think the average household that earns $59-60-thousand dollars a year will see almost a $12-hundred-dollar reduction in their tax bill this year. So, those working families that this is directed toward, absolutely is going to be a help. And, the other side can say all they want to, but their comments do not reflect the truth of what this actually will do. So, I just want to make sure that people understand the potential that this holds for average Americans."

Newhouse says the goal is to get the legislation through both chambers as quickly as possible ...

DAN NEWHOUSE ... "The Senate should be able to take this up right after they come back from Thanksgiving and get a bill to the President before Christmas or at least before the end of the year. And then, things would kick in January 1, as far as the new tax rules, and the returns people would file under the new system would be for the tax year 2018 which would be due April 15th on 2019."

The bill would also reduce the paperwork for filing your taxes.

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