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By Mac Thornberry for Congress (Reporter)
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House passes Tax Cuts and Jobs Act

Thursday, November 16, 2017 13:43
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WASHINGTON- U.S. Congressman Mac Thornberry (R-Clarendon) voted today in support of H.R.1, the “Tax Cuts and Jobs Act,” which passed the House by a vote of 227-205.

“It is time to create jobs, grow the economy, and improve everyone’s standard of living. We need to let hard working taxpayers keep more of the money they earn – that is exactly what this bill does,” Thornberry said. “This tax reform is our chance to lower taxes, simplify the tax code, and give our economy the boost it needs.”


  • Lowers individual tax rates for low- and middle-income Americans to 12, 25, and 35 percent and maintains a 39.6 percent rate for high-income Americans;
  • Increases the standard deduction and eliminates special interest deductions;
  • Establishes a new family credit and expands and increases the Child Tax Credit;
  • Preserves the mortgage interest deduction for existing mortgages and maintains the mortgage interest deduction for new homes up to $500,000;
  • Continues to allow for state and local property tax deductions up to $10,000;
  • Limits the maximum tax rate for small and family-owned pass-through businesses to 25 percent;
  • Lowers the corporate tax rate to 20 percent; and
  • Doubles the Death Tax exemption and completely repeals the Death Tax after 7 years.

To read the full bill and summary click here.



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