Mark Alford: We must extend the Tax Cuts and Jobs Act

(From Fourth District Congressman Mark Alford)

This past Tuesday was tax day. The April 15 deadline comes around each year as a due date for federal individual income tax returns and tax payments. It can be a tough season for all Americans, especially workers and small business owners.

This year, tax season collides with ongoing economic uncertainty. We know that rural small business owners and families crave predictability, and House Republicans know what we can do to provide that much-needed stability. We must extend the 2017 Tax Cuts and Jobs Act.

This bill was passed during President Trump’s first term and contains a large swath of provisions that have and will continue to provide widespread benefits for Americans at all income levels. Extending the Tax Cuts and Jobs Act and enacting President Trump’s other tax policy initiatives will help the U.S. become the most competitive country in which someone can start, expand, and invest in a business.

Progressive Democrats have painted this bill as a handout for oligarchs and tax cuts for only the rich. This could not be further from the truth. In the aftermath of the 2017 tax cuts, middle-class families were the biggest winners. Even the left-leaning Tax Policy Center found that over 90% of middle-income earners received a tax cut.

The Tax Cuts and Jobs Act was a vital, pro-growth tax reform that we will extend alongside our efforts to slash federal regulations and the bureaucracy that are holding back the American people. Together, we will empower economic expansion, financial security, and small business success for our nation.

If we don’t act swiftly and extend the Tax Cuts and Jobs Act, Missourians will face the largest tax hike in history. The relief that this bill provides has been a lifeline for so many, and we cannot afford to wait until the end of the year. Small businesses and everyday Americans are depending on us. That’s why we’re committed to getting this done for you.