Before I came to Congress, I signed a pledge not to raise my constituents’ taxes – and I’ve kept it. As a member of the Ways and Means Committee and former Chairman of the Budget Committee, I worked with President Trump to overhaul our broken tax code in a way that lowers rates and lets Americans keep more of what they earn.
In December 2017, President Trump signed the Tax Cuts and Jobs Act into law, effectively doubling the standard deduction for individuals and lowering the corporate tax rate to 21%. Our goal was to allow business owners to invest more into their employees, giving families higher wages and stimulating greater economic growth.
Our bill preserves and expands the deduction for charitable contributions so you can continue donating to your local church, charity or community organization. It also maintains the Earned Income Tax Credit, which provides relief for low-income Americans working hard to build better lives for themselves.
As a one-time single mom with three children, I know that every dollar counts. That’s why we significantly expanded the Child Tax Credit from $1,000 to $2,000 to help parents with the cost of raising children. We also preserved the Adoption Tax Credit so families can continue receiving additional tax relief as they open their homes to children. While we can’t change the cost of adoption overnight, we want to ensure that our tax laws provide help to offset that expense.
Finally, we repealed Obamacare’s individual mandate, giving families much-needed relief and flexibility to select health care that fits their needs best. Our goal was to create a fairer, flatter and simpler tax code that allows Americans to spend more of their money how they choose – and we did just that.
Click HERE for more information on the "Tax Cuts and Jobs Act" and what it means for your family.
More on Tax Reform
Washington, D.C. – Congressman Diane Black (R-TN-06) released the following statement after the U.S. House of Representatives unveiled the Tax Cuts and Jobs Act, designed to overhaul the tax code and provide relief to American families for the first time since 1986:
Washington, D.C. – Chairman Diane Black joined Maria Bartiromo today on “Mornings with Maria” to discuss the Budget, tax reform and her reaction as a nurse to the tragedy in Las Vegas. Click here or on the image below to view the full interview.
Washington, D.C. – Today, the Trump Administration, the House Committee on Ways and Means, and the Senate Committee on Finance released the unified framework for fixing the tax code, last updated by President Ronald Reagan in 1986. The framework will deliver a modern code built for growth, supporting middle-class families, protecting jobs and delivering fiscally responsible tax reform to spur the economy. Congressman Diane Black (R-TN-06) released the following statement:
Washington, D.C. – Congressman Diane Black (R-TN-06), Chairman of the House Budget Committee and member of the House Ways and Means Committee, released the following statement in support of President Trump’s remarks on tax reform:
Washington, D.C. – Budget Chairman Diane Black (R-TN-06) discusses tax reform and reconciliation following the passage of the FY18 Budget Resolution – “Building a Better America.” The resolution was passed with unanimous GOP support late Wednesday night.
Click HERE to watch Chairman Black interviewed by Kevin Cirilli on Bloomberg TV.
Washington, D.C. – Today, Congressman Diane Black (R-TN-06), a member of the House Ways & Means Committee, responded to a new Treasury Inspector General for Tax Administration (TIGTA) report showing that the IRS erroneously granted more than $46 million in tax refunds as a result of a computer glitch and “ineffective monitoring of potentially fraudulent tax returns.” Black released the following statement:
Washington, DC – Today, Congressman Diane Black (R-TN-06) and Congressman Pat Meehan (R-PA-07) introduced H.R. 4141, the Tax Return Preparer Competency Act. The legislation requires professional tax return preparers to undergo necessary examinations, take annual continuing education classes and to submit to a background check.