releases: https://costello.house.gov/media-center/press-releases/rep-costello-statement-supporting-tax-relief-middle-income
Data license: MIT · Data source: dwillis/congress-press
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| https://costello.house.gov/media-center/press-releases/rep-costello-statement-supporting-tax-relief-middle-income | Rep. Costello Statement on Supporting Tax Relief for Middle Income Pennsylvanians | 2017-12-19 | 2017 | 2017-12 | Republican | House | PA | Ryan Costello | C001106 | costello.house.gov | legacy | Washington, D.C. Rep. Ryan Costello (PA-06) today issued the following statement regarding the Tax Cuts and Jobs Act: American workers are the lynchpin of a healthy economy. Employers provide the capital and take the risk to create value in services and products. Families are the backbone of our society. For all of them, we need an economy that invests in people and rewards hard work. To start, and to be clear, this tax bill cuts taxes for low income Americans, and it does so by doubling the standard deduction. Middle income families will benefit from lower rates and doubling the child tax credit to name just a few policies. And for those itemizing on their tax return, up to $10,000 is still able to be deducted from property and income taxes, along with the mortgage interest deduction; when you combine this with lower income tax brackets and higher income thresholds, the overwhelming majority of my constituents will get a tax cut. This means hard earned money back in your wallet to be saved, invested, and spent at businesses in Southeastern Pennsylvania. I believe hardworking taxpayers deserve a tax cut and that is why Im proud to support this tax relief bill. On the business side, small businesses will have more capital to invest in their workers through higher wages and with more job creation and in their equipment and machinery, which will also have a positive economic impact. This bill will create jobs. And a tighter labor market means companies compete for workers and wages rise. We are losing jobs and investment to other countries. Today, the U.S. corporate tax rate remains at 35 percent while the worldwide average corporate tax rate is 22.5 percent. Did you know that the average rate among U.S. trading partners, the vast majority of which have converted to territorial tax systems, is 24.6 percent? This tax bill makes us competitive for future investment and growth in the global economy. There are so many myths that persist, and I would like to clear up a few of them. The teacher supplies deduction remains. The child tax credit has been expanded. The charitable deduction continues and expands. We have maintained the earned income tax credit. We have improved savings accounts for education. Tuition waivers for graduate students will remain untaxed. We have preserved the medical expense deduction and even expanded it for two years. We have lowered individual tax rates across the board to zero, ten, 12, 22, 24, 32, 35, and 37 percent respectively, which benefits all Americans. A typical family of four earning the median family income of $73,000 will receive a tax cut of $2,059. The average single mom in America makes around $41,000. Under this legislation, she will receive a tax cut of over $1,300. I have listened to everyone. Everyone who has called, emailed, and written. Ive heard from families, and Ive spent time with small business owners, who have told me over and over that this will put more money back in the pockets of their workers, stimulate more jobs, and help them improve and grow their businesses. My voice and my vote reflects what my constituents need and feel more money in their paychecks, a healthier economy that helps everyone, and better positioning for American companies to grow and compete in the global economy. This bill will lift wages, create jobs, and enhance economic growth. And that is why Ive decided to vote yes on the tax bill. Video is available here. ### | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |