Dec 22, 2017
President Trump Marks Historic Achievement by Signing Bold Tax Relief Legislation into Law, Unleashing Greater Opportunity & Prosperity for All Americans
Post by Freedom Partners
Arlington, VA — After months of work by congressional leaders and members of the administration, President Donald Trump today signed the Tax Cuts and Jobs Act into law. Importantly, the historic legislation will provide tax relief for individuals in every income bracket, make businesses more competitive, and fuel economic growth and opportunity for every American under a simpler and fairer tax code.
Freedom Partners executive vice president Nathan Nascimento issued the following statement:
“Today’s historic achievement marks a major victory for hardworking taxpayers struggling under a broken tax code that shrinks their earnings, tightens their budgets, and makes their futures more uncertain. But with a new administration, committed Congress and commander-in-chief came the promise of more jobs, bigger paychecks, and financial security for ordinary Americans to save and invest for the future – this is the promise that has been kept. Freedom Partners is grateful for the bold leadership and dedication of all who worked to advance the cause of greater opportunity and prosperity for every American through a simpler and fairer tax code.
“Building on this hard work, it will be critical that we continue the progress that this bill started and not lose sight of the long-term vision of a stronger, more vibrant economy where people find success by helping others improve their lives in a freer society.”
Freedom Partners will also join with Americans for Prosperity, The LIBRE Initiative, and Generation Opportunity in a full scale, multi-million dollar nationwide education campaign that will demonstrate the tremendous benefits of this plan and how it will directly help Americans improve their lives. Our goal is to make certain that the American people understand how pro-growth tax reform personally benefits them, and correct the misinformation being spread by high-tax supporters.
History proves that bold tax relief will benefit all Americans. Tax cuts under presidents Kennedy, Reagan and Bush resulted in strong economic growth, billions of dollars more in federal revenue, thousands of dollars more in take-home pay and millions more jobs Americans deserve.
Freedom Partners remains committed to rooting out corporate welfare, removing regulatory burdens, reining in reckless spending, and building a brighter and more prosperous future for many years to come. Along with Americans for Prosperity, it has long supported efforts to enact pro-growth tax reform which advances the following five key principles for a simpler, fairer and flatter tax code:
- SIMPLICITY: Lower rates, fewer brackets, and the elimination of special loopholes, deductions and exemptions will make tax compliance easier and more affordable.
- EFFICIENCY: A broad-based, low-rate tax system is the most efficient way for the government to collect revenue – causing as little disruption to the economy as possible.
- EQUITABILITY: Corporate welfare and special-interest handouts in the current tax code create an unfair, two-tiered tax system and should be eliminated.
- PREDICTABILITY: Tax certainty is essential to a pro-growth tax system.
- NO BURDEN ON TAXPAYERS: Comprehensive tax reform should be done without placing new burdens on the American people, whether in the form of a BAT, VAT, carbon tax, or otherwise.