This week, U.S. Congressman David G. Valadao (CA-21) voted in support of legislation to permanently extend the individual provisions included in the Tax Cuts and Jobs Act signed into law last December.
WASHINGTON – This week, U.S. Congressman David G. Valadao (CA-21) voted in support of legislation to permanently extend the individual provisions included in the Tax Cuts and Jobs Act
signed into law last December.
The package, referred to as Tax Reform 2.0
, includes three bills aimed at permanently reducing taxes for middle-class Americans, especially those in California’s Central Valley.
U.S. Congressman David G. Valadao (CA-21) stated, “Since implementation of the Tax Cuts and Jobs Act earlier this year, American’s have been able to keep more of their hard-earned money and employers have been able to expand their businesses and hire even more workers.” He continued, “We have seen the impacts of our tax reform right here in the Central Valley and by making these tax cuts permanent, we can continue to create jobs and help middle-class families.”
Together, H.R. 6756, the American Innovation Act
, H.R. 6757, the Family Savings Act
, and H.R. 6760, the Protecting Family and Small Business Tax Cuts Act
will make the following provisions permanent:
- Lower individual Tax Rates
- Zero, 10%, 12% 22%, 24%, 32%, 35%, and 37%
- Doubled standard deduction so that Americans can keep more of their paycheck
- Expanded Child Tax Credit to help parents with the cost of raising children (Increased from $1,000 to $2,000)
In addition, the package:
- Creates the first ever Paid Family Leave Tax Credit
- Establishes a new Universal Savings Account (USA) to offer a fully flexible savings tool that families can use any time that’s right for them
- Expands 529 Education accounts so families can also use their education savings to pay for apprenticeship fees to learn a trade, cover the cost of home schooling, and help pay off student debt
and H.R. 6757
were passed by the House of Representatives on September 27, 2018. H.R. 6760
was passed the following day, September 28, 2019. More information about the Tax Reform 2.0
legislative package can be found here
Congressman David G. Valadao represents the 21st Congressional District of California, which includes Kings County and portions of Fresno, Tulare, and Kern Counties.