A press release from Congressman Randy Hultgren:
Tax Reform Will Support Illinois Families, Spur American Economy and Encourage Job Creation
Hultgren Supports Passage of H.R. 1, Tax Cuts and Jobs Act
Washington, DC —Today, U.S. Representative Randy Hultgren (R-IL-14) supported passage of H.R. 1, the Tax Cuts and Jobs Act. The legislation included Rep. Hultgren’s bill H.R. 1425, the Bring Small Businesses Back Tax Reform Act, which cuts the overall small business tax rate to 25 percent. Some Illinois companies are paying up to 40 percent in federal taxes.
“For too long our complex tax code has confused American individuals and families, nickel-and-dimed small businesses and obstructed job creation and economic growth. It has kept our businesses from growing and adding more workers.
“This bill provides tax cuts for the middle class, low-income Americans and U.S. businesses of all sizes—from home builders, to contractors, to farmers and small businesses in Illinois,” said Rep. Hultgren.
“Comprehensive tax reform is long overdue, and this bill provides significant relief to people in Illinois and across the country. Every time I meet with family-owned businesses and ask them what it would take to hire one more employee, they unanimously state fixing the tax code, among other issues.
“I am especially pleased the legislation includes my bill, the Bring Small Businesses Back Tax Reform Act, to cut the overall small business tax rate to 25 percent and provide much-needed relief to the engine of Illinois’ economy.
“I look forward to working with my colleagues in the U.S. Senate to finalize a plan that includes municipal finance tax protections that preserve a key tax tool for funding local and state infrastructure projects like hospitals, roads and bridges.
“Our goal is a tax code that benefits and works for families, seniors, workers and job creators in the 14th District.”