House Passes Final Bill in Tax Reform 2.0 Package
Washington, D.C. – Today, the U.S. House of Representatives passed the Protecting Family and Small Business Tax Cuts Act of 2018, the third and final bill in the Tax Reform 2.0 package. The American Innovation Act and the Family Savings Act were passed by the House yesterday.
Congressman Black released the following statement:
“By making tax cuts permanent, Tennessee families will have room to breathe when it comes to life’s unexpected challenges and emergencies, and they will have more money to save for their future and for the future of their children. Our small business owners will continue to grow on Main Street and invest more in the people they employ. Since tax reform was signed into law, it has already begun to boost our economy and put America back at the forefront of the competition. We are committed to giving that permanent certainty to millions of Americans – it is crucial that we keep the momentum going and I am proud of the work we’ve accomplished.”
The full Tax Reform 2.0 package includes the Protecting Family and Small Business Tax Cuts Act of 2018 (H.R. 6760), the Family Savings Act of 2018 (H.R. 6757) and the American Innovation Act of 2018 (H.R. 6756). In addition to giving permanent relief to individual taxpayers, the legislation encourages retirement and family savings, and promotes new business innovation.
Congressman Diane Black represents Tennessee’s 6th Congressional District. A nurse for more than 40 years, she serves as a member of the House Budget Committee and the Ways and Means Committee.