Congressman John Shimkus was among those voting in favor of the ‘Tax Cuts and Jobs Act’ which was approved by the House of Representatives Thursday. He says the legislation delivers on President Trump’s promise of meaningful relief for low and middle-income taxpayers, and reduces business taxes so American employers can grow, create jobs, and raise wages.
‘’More than 80 percent of my constituents take the standard deduction instead of itemizing on their tax returns,’’ said Shimkus. ‘’We’re nearly doubling that standard deduction, which means the first $12-thousand dollars earned by individuals, and the first $24-thousand dollars earned by married couples, would be protected from federal income taxes under this bill,’’ added Representative Shimkus.
Under the House-passed Tax Cuts and Jobs Act, a statement released by Congressman Shimkus’ office says:
- A married couple with two children earning $82,515 (the median four-person household income for the 15th District in Illinois) would receive a tax cut of $1,811.
- A single man or woman with no dependents earning $48,000 (just below the median income for the 15th District of Illinois) would receive a tax cut of $1,301.
- A single person with one child earning $30-thousand dollars a year would receive a tax refund of more than $1,000 – over $700 more than he or she would have received under the current tax code.
