Congressman John Shimkus says the new tax reform bill is a win-win. ‘’Fixing the business side of our tax code is a win for workers and job creators alike,’’ says Shimkus. ‘’But individual taxpayers and families at every single income level will also get to keep more of their paychecks under this new tax code,’’ he added.
‘’There is a lot of misinformation being pushed by opponents of tax reform,’’ said the 15th District Congressman. ‘’Some folks even think they will be paying more when the reality is they’ll be paying less. Ultimately, the proof that we got it right for the American people will be in their paychecks next year.’’
Under the new tax code, for example, Representative Shimkus notes:
- A family of four, with two children earning $62,000 a year would get a tax cut of $1,728.
- A single mother, with one child, earning $39,000 a year would get a tax cut of $1,244.
- A retired couple earning $25,000 a year would pay just $100 in federal income taxes (a cut of $270.)
President Trump is expected to sign the bill into law before Christmas.
