Rep. Vern Buchanans' recent introduction of the Tax Cuts and Jobs Act Permanency Act (TCJA) has drawn widespread support from House Republicans, including Rep. Brian Mast, who has publicly announced his support of the bill, tweeting that "Congressional Republicans and President Trump lowered taxes for every income bracket. It’s time to make those cuts permanent."
Congressional Republicans and President Trump lowered taxes for every income bracket. It’s time to make those cuts permanent. https://t.co/dvR0NBK3RR
— Rep. Brian Mast (@RepBrianMast) February 19, 2023
In his press release, Rep. Mast describes how "when President Trump made historic tax cuts for families in every income bracket, working Americans had a weight lifted off their shoulders."
On the other hand, the Biden Administration, in a damnatio memoriae-like manner, has "tried to roll back all the policies that had President Trump’s name on it."
Consequently, this has resulted in a tax hike across every income level.
To reiterate, the TCJA Permanency Act will retain a 20% tax cut for small businesses introduced by the original Tax Cuts and Jobs Act. As Rep. Buchanan described in our interview with him, with tax hikes created by the Biden Administration, businesses are paying 46.% in Federal taxes alone, and this does not include taxes in states such as California, which can total up to 60%.
Because of this, Rep. Buchanan asked, "who in the hell is going to invest in a business if you've got to give up 60%?"
Additionally, the Act will include a permanent lower tax rate for individuals and families; a higher standard deduction; the permanence of the doubled child tax credit, and finally a simplified filing system.
Therefore, Rep. Mast vows to fight "gainst these senseless policies and working to make the Trump tax cuts permanent," adding that "we will keep the tax cuts that gave thousands of dollars to every family and stop ridiculous tax hikes like the ones proposed by the Biden Administration."
"When you go to work, your paycheck belongs to you. I will fight any attempt by the Biden Administration to take more of your money out of your wallet," Mast concludes.
