U.S. Sens. Jerry Moran and Pat Roberts hailed final passage Wednesday of the sweeping rewrite of federal tax law that lowers individual rates and sharply reduces the corporate rate to provide a climate Kansas Republicans predict will inspire job creation.
The House first approved a $1.4 trillion package Tuesday but had to vote again Wednesday after the Senate made adjustments Tuesday night to the bill analysts expect to bloat the federal deficit by more than $1 trillion over the next decade.
“Congress sent a pro-growth tax reform bill to the president’s desk that works for Kansas families and businesses,” Moran said. “By lowering the corporate tax rate, businesses will be encouraged to stay and grow in America, fostering an environment for businesses to create more jobs, better jobs and higher-paying jobs.”
Moran said lowering individual tax rates, increasing standard deductions and expanding the child tax credit would benefit lower-income families.
The Senate vote was 51-48, while the final vote in the House was 224-201. President Donald Trump pledged to sign the legislation.
Roberts, who serves on the Senate Finance Committee, said lawmakers embraced much-needed tax relief to families and reset the business climate to promote job formation.
“This historic legislation impacts every single American,” Roberts said. “We have worked together to provide meaningful relief for taxpayers, taking money out of Washington and allowing Americans to keep more of their hard-earned dollars. This bill will give our economy the boost it needs to create more jobs at higher wages, make American companies more competitive and keep jobs here at home.”
Roberts said he was pleased the bill included repeal of the Affordable Care Act penalty on individuals who declined to obtain health insurance.
U.S. Rep. Ron Estes, who serves the congressional district anchored by Wichita, voted for the legislation with the Kansas’ three other members of the U.S House, all Republicans.
“This bill gives a typical family of four earning $73,000 a tax cut of $2,059 next year,” Estes said.
“Families need that money for groceries, their children’s education or for their retirement.”
Congressional Democrats attacked the bill by accusing the GOP of backing legislation that provided permanent tax reductions to corporations but temporary cuts for individual taxpayers. Democrats criticized the rushed process leading to adoption of the bill.
“We are five days away from Christmas, but it feels like Groundhog Day,” said U.S. Rep. Louise Slaughter, D-N.Y.