YOUNG VIDEO: Historic Tax Reform Bill Benefits Middle-Class Hoosier Families and Small Businesses
WASHINGTON D.C. – U.S. Senator Todd Young (R-Ind.) released a video statement tonight following the Senate’s passage of the Tax Cuts and Jobs Act. Click here or the image below to view Senator Young’s statement.
Today, I voted for pro-growth tax reform that will provide needed relief to American families.
This bill is going to create a tax code that is simpler, fairer, and that allows Hoosiers to keep more of their hard-earned money.
The bill also repeals the harmful Obamacare individual mandate tax, allowing families to choose the healthcare that’s right for them.
In our state of Indiana, nearly 140-thousand Hoosiers of modest means chose to pay that Obamacare individual mandate tax instead of buying insurance they don’t want or they can’t afford.
Eighty-one percent of those who paid the tax made less than $50,000 per year, and 40 percent made less than $25,000.
By passing this tax reform legislation, and repealing the Obamacare individual mandate tax, we’re getting rid of a major burden on Hoosier families.
Throughout this process, I listened carefully to feedback from people across the state of Indiana.
I’m glad to say that this bill continues and expands support for a number of Hoosier priorities.
Deductions for contributions to benefit our charitable organizations.
Keeping tuition waivers for graduate students untaxed, so that Hoosiers are equipped to thrive in this ever-changing economy.
Maintaining the Earned Income Tax Credit so that work pays more than joblessness.
Expanding the Child Tax Credit for families trying to make ends meet.
And protecting the Adoption Tax Credit so that caring adults can become loving parents.
When paired with regulatory reform, this tax bill is going to give a major boost to our economy, creating an environment that’s ripe for jobs and small business growth.
I’m glad we are able to deliver this big win for the American people before the end of the year.
And I look forward to continuing advancing Hoosier priorities in 2018.
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