The Senate took a crucial step towards enacting President Trump’s agenda of permanent, pro-growth tax cuts by releasing its budget resolution on Wednesday.
Grover Norquist, President of Americans for Tax Reform, released the following statement in support of the Senate’s budget plan:
Americans for Tax Reform strongly supports the Senate budget plan and encourages all members of the Senate to vote in favor of the resolution. The Senate budget resolution unlocks the path to permanency for the 2017 Trump Tax Cuts and further pro-growth tax cuts by using the current-policy baseline. This reflects the obvious reality that Republicans in Congress are preventing the largest tax increase in American history by stopping the expiration of the Trump Tax Cuts. Passing this resolution is a huge step towards providing tax relief for American businesses and households of every income level that will make America a more competitive country.
Norquist also spoke in support of the Senate Resolution in an interview on Fox Business on Thursday:
Taxpayers face the largest tax increase in American history if Congress fails to extend the 2017 Trump tax cuts. Failure from Congress to act would mean taxpayers fall back into living under Obama’s tax rates:
- The standard deduction, currently claimed by 90 percent of tax filers, would be cut in half
- Forty million families would see their current Child Tax Credit cut in half
- A family of four earning $80,610 on average would see a $1,695 tax hike
- More than 26 million small business owners would be hit with a 43.4 percent tax rate
Americans for Tax Reform encourages all members of Congress to prevent these automatic tax increases from hitting American families and businesses at the end of this year.
