(Washington, D.C.) – Today the House of Representatives and the Senate are expected to give final approval to the first major tax reform package voted on in more than 30 years. The president has promised to sign this legislation, which will reduce the federal tax burden and encourage economic opportunity.
Daniel Garza, President of The LIBRE Initiative, released the following statement:
“For years, Hispanic families and entrepreneurs have been suffering through an economy that is not generating economic opportunity and wage growth as it should. Without strong economic growth, families have had a harder time paying bills, saving for the future, and building their own American Dream. Relief from a complicated and anti-competitive tax code can help spur the investment and growth needed so that American workers and entrepreneurs can compete with anyone in the world.
It has been more than 30 years since the U.S. tax code was reformed to enhance the competitiveness of the U.S. economy. The reform package being voted on in Congress today will primarily cut taxes on working families, reduce the corporate tax rate – which will make American companies more competitive with those of other countries – and repeal the punitive tax penalty on those who do not comply with Obamacare mandates. These critical changes will help increase economic opportunity and boost take-home pay. Hispanic families and businesses can be thankful that lawmakers in Washington are delivering on this key priority.”