Tax Cuts and Jobs Act Heads to Conference
(Washington, DC) – Congressman Doug LaMalfa (R-Richvale) issued the following statement after the House of Representatives voted to go to Conference with the Senate on H.R. 1, the Tax Cuts and Jobs Act. Now that the House and Senate have each passed a version of tax reform legislation, members of both bodies can move forward in a conference committee to negotiate the differences between the two bills.
LaMalfa said: "Moving into conference on the Tax Cuts and Jobs Act is a big step forward for landmark tax reform. Between the doubled standard deduction, the increased Child Tax Credit, and the Family Flexibility Credit, Northern California residents will see a significant tax cut.When it's all said and done, this bill will simplify our tax code and save money for the vast majority of filers in the 1st district, and that's why I support it. This isn't about the government's money – this is about letting taxpayers keep more of their own hard-earned paychecks. I'll be working closely with the conference committee as they iron out the differences between the two bills, and I look forward to a final vote on the House floor soon."
In the 1st district, over 70% of taxpayers do not itemize and instead use the standard deduction. 79% of those using the standard deduction earn less than $100,000 annually. These people will see a direct and guaranteed tax cut. This component is aimed squarely at cutting working and middle class taxes.
Over 45,000 North State families save over $27 million annually thanks to the increase in the Child Tax Credit, which grows 60% to $1,600 per child, and the bill keeps the important Adoption Tax Credit and Child & Dependent Care Tax Credits in place.
Congressman Doug LaMalfa is a lifelong farmer representing California's First Congressional District, including Butte, Glenn, Lassen, Modoc, Nevada, Placer, Plumas, Shasta, Sierra, Siskiyou and Tehama Counties.
Statistics and data for California's 1st district courtesy of the IRS.