Reed Stands With Upstate New York
House unveils bill to lower taxes for hardworking families
WASHINGTON, DC- Today, Congressman Tom Reed (NY-23), along with colleagues on the Ways and Means Committee, unveiled comprehensive tax reform legislation. The bill will ensure a family of four in New York’s 23rd District will see a tax cut of over $1600.
“When people get to keep more of their hard earned dollars, it means money for things that make a difference for hardworking people. It’s a down payment on a car for a factory worker in Hornell, daycare for a young family in Elmira, or a trip to Disney World for a family in Dunkirk. Seniors can now visit their grandkids who were forced out of New York because the taxes were ‘too damn high.’ This is important to folks throughout the Southern Tier, Finger Lakes, and Western New York. That’s who I’m working for and whose voice I will continue to carry to Washington,” Reed added.
The bill lowers rates on middle and working class Americans by condensing the number of brackets while keeping the top income tax rate at 39.6 percent for the richest one percent. The legislation also doubles the standard deduction, so people don’t have to waste time and money on accountants.
By retaining the state and local property tax deduction, this bill protects 99.7 percent of homeowners in the 23rd District.
“I stand with and will protect the hardworking taxpayers of our region. I have heard the voices from Jamestown to Owego to Geneva, and the message is clear: people deserve a tax cut, and this legislation will deliver just that,” Reed stated.
For full bill text click here.
“This tax cut bill will also mean more jobs for Upstate New York,” Reed observed. “This is a tax cut bill and a job creation bill. When you create jobs, it creates hope and opportunity for generations to come.”
For a section by section breakdown click here.
For policy highlights click here.