{"database": "press", "table": "releases", "rows": [["https://pearce.house.gov/press-release/pearce-statement-trump-signing-historic-tax-plan-law", "PEARCE STATEMENT ON TRUMP SIGNING HISTORIC TAX PLAN INTO LAW", "2017-12-22", "2017", "2017-12", "Republican", "House", "NM", "Steve Pearce", "P000588", "pearce.house.gov", null, null, "legacy", "Washington, D.C. (December 22, 2017)Congressman Steve Pearce released the following statement after President Trump signed the Tax Cuts & Jobs Act into law:\nFor the first time in 31 years, our nations tax code is going to see a complete overhaul, putting more money back in the pockets of hard-working taxpayers. The nations complex and antiquated tax code has made it harder for families, when it should be working to help them. For a business, taxes can be the difference between keeping the doors open or closing up shop. By signing this bill into law today, we will see a more fair and simple tax code that creates jobs, raises wages, and reduces taxes across the board. This means you get to decide what to do with more of your heard-earned money.\nBackground  \n\tMajor companies announced new investments moments after the tax reform bill was sent to the Presidents desk. AT&T said they plan on investing $1 billion in the U.S. next year, and a bonus of $1,000 to over 200,000 employees. Boeing CEO Dennis Muilenburg also praised the passing of the tax bill by Congress, announcing the company would take action to encourage innovation and growth by making a $300 million employee-related and charitable investment.\nThe final version of the Tax Cuts & Jobs Act includes:\n Lowers individual tax rates to 0%, 10%, 12%, 22%, 24%, 32%, 35%, and 37%\nNearly doubles the standard deduction from $6,500 and $13,000 under current law to $12,000 and $24,000 for individuals and married couples, respectively\nAllows people to write off state and local taxes up to $10,000\nExpands the Child Tax Credit from $1,000 to $2,000\nPreserves the mortgage interest deduction up to $750,000 for first and second homes\nLowers corporate tax rate from 35% to 21% to create a more competitive environment\nExpands medical expense deduction\nMaintains Earned Income Tax Credit\nRetains retirement savings options\nMaintains tax exempt status of graduate student tuition waivers\nMaintains tax exempt status of Private Activity Bonds for low-income housing\nRepeals Obamacare's individual mandate penalty tax\nPermits the responsible energy production on the Arctic National Wildlife Refuge (ANWR)\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://pearce.house.gov/press-release/pearce-statement-trump-signing-historic-tax-plan-law"], "units": {}, "query_ms": 1.7020083032548428, "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"}