{"database": "press", "table": "releases", "rows": [["https://hultgren.house.gov/newsroom/press-releases/tax-reform-will-support-illinois-families-spur-american-economy-and", "Tax Reform Will Support Illinois Families, Spur American Economy and Encourage Job Creation", "2017-11-16", "2017", "2017-11", "Republican", "House", "IL", "Randy Hultgren", "H001059", "hultgren.house.gov", null, null, "legacy", "Washington, DC \u2014Today, U.S. Representative Randy Hultgren (R-IL-14) supported passage of H.R. 1, the Tax Cuts and Jobs Act. The legislation included Rep. Hultgren\u2019s bill H.R. 1425, the Bring Small Businesses Back Tax Reform Act, which cuts the overall small business tax rate to 25 percent. Some Illinois companies are paying up to 40 percent in federal taxes.\n\u201cFor too long our complex tax code has confused American individuals and families, nickel-and-dimed small businesses and obstructed job creation and economic growth. It has kept our businesses from growing and adding more workers. This bill provides tax cuts for the middle class, low-income Americans and U.S. businesses of all sizes\u2014from home builders, to contractors, to farmers and small businesses in Illinois,\u201d said Rep. Hultgren. \u201cComprehensive tax reform is long overdue, and this bill provides significant relief to people in Illinois and across the country. Every time I meet with family-owned businesses and ask them what it would take to hire one more employee, they unanimously state fixing the tax code, among other issues. I am especially pleased the legislation includes my bill, the Bring Small Businesses Back Tax Reform Act, to cut the overall small business tax rate to 25 percent and provide much-needed relief to the engine of Illinois\u2019 economy. I look forward to working with my colleagues in the U.S. Senate to finalize a plan that includes municipal finance tax protections that preserve a key tax tool for funding local and state infrastructure projects like hospitals, roads and bridges. Our goal is a tax code that benefits and works for families, seniors, workers and job creators in the 14th District.\u201d\nFor individuals and families, the\u00a0Tax Cuts and Jobs Act:\n Lowers individual tax rates for low- and middle-income Americans to Zero, 12%, 25% and 35%\u00a0so people keep more of what they earn, and continues to maintain 39.6% for high-income Americans.\n\tSignificantly increases the standard deduction\u00a0to protect roughly double the amount of what you earn each year from taxes \u2013 from $6,350 to $12,000 for individuals and $12,700 to $24,000 for married couples.\n\tEliminates special-interest deductions that increase rates and complicate Americans\u2019 taxes\u00a0\u2013 so an individual or family can file their taxes on a form as simple as a postcard.\n\tTakes action to support more American families\u00a0by:\n\t\tEstablishing a new Family Credit \u2013 which includes expanding the Child Tax Credit\u00a0from $1,000 to $1,600 to help parents with the cost of raising children, and providing a credit of $300 for each parent and non-child dependent to help all families with their everyday expenses.\n\t\t\tPreserving the Child and Dependent Care Tax Credit\u00a0to help families care for their children and older dependents such as a disabled grandparent who may need additional support.\n\t\t\tPreserving the Adoption Tax Credit\u00a0so parents can continue to receive additional tax relief as they open their hearts and their homes to an adopted child.\n\t\t\n\tMaintains the Earned Income Tax Credit\u00a0to provide important tax relief for low-income Americans working to build better lives for themselves.\n\tStreamlines higher education benefits\u00a0to help families save for and better afford college tuition and other education expenses.\n\tContinues the deduction for charitable contributions\u00a0so people can continue to donate to their local church, charity or community organization.\n\tPreserves the home mortgage interest deduction\u00a0for existing mortgages and maintains it for newly purchased homes up to $500,000, providing relief to current and aspiring homeowners.\n\tContinues to allow people to write off the cost of state and local property taxes\u00a0up to $10,000.\n\tRetains popular retirement savings options\u00a0such as 401(k)s and Individual Retirement Accounts so Americans can continue to save for their future.\n\tRepeals the Alternative Minimum Tax\u00a0so millions of individuals and families will no longer have to worry about calculating their taxes twice each year and pay the higher amount.\n\tProvides immediate relief from the Death Tax by doubling the exemption and repealing the Death Tax after six years. Family-owned farms and businesses will no longer have to worry about double or triple taxation from Washington when they pass down their life\u2019s work to the next generation.\n For job creators of all sizes, the\u00a0Tax Cuts and Jobs Act:\n Lowers the corporate tax rate to 20%\u00a0\u2013 down from 35%, which today is the highest in the industrialized world \u2013 the largest reduction in the U.S. corporate tax rate in our nation\u2019s history.\n\tReduces the tax rate on the hard-earned business income of Main Street job creators to no more than 25%\u00a0\u2013 the lowest tax rate on small business income since World War II.\n\tProvides a new, low tax rate of 9% for businesses earning less than $75,000 in income\u00a0to help the Main Street startups who fuel innovation and job creation in communities across the country\n\tEstablishes strong safeguards to distinguish between individual wage income and \u201cpass-through\u201d business income\u00a0so Main Street tax relief goes to the local job creators it was designed to help most.\n\tAllows businesses to immediately write off the full cost of new equipment\u00a0to improve operations and enhance the skills of their workers \u2013 unleashing the growth of jobs, productivity and paychecks.\n\tProtects the ability of small businesses to write off the interest on loans\u00a0that help these Main Street entrepreneurs start or expand a business, hire workers and increase paychecks.\n\tRetains the low-income housing tax credit\u00a0that encourages businesses to invest in affordable housing so families, individuals and seniors can find a safe and comfortable place to call home.\n\tPreserves the Research & Development Tax Credit\u00a0\u2013 encouraging our businesses and workers to develop cutting-edge \u201cMade in America\u201d products and services.\n\tStrengthens accountability rules for tax-exempt organizations\u00a0to ensure that churches, charities, foundations and other organizations are focused on helping people and communities in need.\n\tModernizes our international tax system\u00a0so America\u2019s global businesses will no longer be held back by an outdated \u201cworldwide\u201d tax system that results in double taxation for many of our nation\u2019s job creators.\n\tMakes it easier for American businesses to bring home foreign earnings\u00a0to invest in growing jobs and paychecks in our local communities.\n\tPrevents American jobs, headquarters and research from moving overseas\u00a0by eliminating incentives that now reward companies for shifting jobs, profits and manufacturing plants abroad.\n Supporting organizations:\n American Forest & Paper Association\n\tAssociated Builders and Contractors\u00a0\n\tAssociation of Equipment Manufacturers (AEM)\n\tFaith & Freedom Coalition\n\tFamily Research Council\u00a0\n\tIllinois Farm Bureau\n\tIndependent Community Bankers of America (ICBA)\n\tNational Association of Manufacturers\n\tNational Federation of Independent Business (NFIB)\n\tNational Retail Federation\u00a0\n\tNational Taxpayers Union\u00a0\n\tU.S. Chamber of Commerce\n ###", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://hultgren.house.gov/newsroom/press-releases/tax-reform-will-support-illinois-families-spur-american-economy-and"], "units": {}, "query_ms": 2.1203721407800913, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}