releases: https://mckinley.house.gov/news/documentsingle.aspx?DocumentID=1198
Data license: MIT · Data source: dwillis/congress-press
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| https://mckinley.house.gov/news/documentsingle.aspx?DocumentID=1198 | McKinley Secures Crucial Tax Reform Victories | 2017-12-15 | 2017 | 2017-12 | Republican | House | WV | David McKinley | M001180 | mckinley.house.gov | legacy | Today, a joint House and Senate conference committee released the final version of H.R. 1, the Tax Cuts and Jobs Act. The final bill includes several provisions championed by Congressman David B. McKinley, P.E., (WV-1). Throughout this process, our office sought to get the best deal possible for West Virginians. Even after the House passed the tax reform bill and started negotiations with the Senate on the final version, we pushed to make sure our priorities were addressed. We did not take our eye off the ball, said McKinley. Through perseverance, we successfully worked to maintain the Historic Preservation Tax Credit, education credits that will make college more affordable and clean coal research credits, and successfully removed provisions that would cost local jobs. I applaud Chairman Kevin Brady and the negotiators on the conference committee for taking action on these critical issues. This plan will deliver much needed relief for middle income families and make our tax code fairer and simpler, McKinley added. This is a historic moment for the American people. Our legislation to finally reform America's broken tax code will deliver more jobs, bigger paychecks, and fairer taxes to hardworking families and job creators throughout the country, said Ways and Means Committee Chairman Kevin Brady (R-TX). I'm grateful to Congressman McKinley for his leadership on the Historic Tax Creditand for his work in support of making pro-growth, pro-family tax reform a reality for the American people. Background McKinley successfully worked with House leadership to ensure that the tax reform package retains the Historic Preservation Tax Credit, critical clean coal research credits, higher education credits and a full repeal of the corporate alternative minimum tax. The Historic Preservation Tax Credit has directly aided in the revitalization of Main Streets and rural communities nationwide. Over 40% of the projects using this credit have been in rural communities, breathing new life into their downtowns and attracting investment. The Historic Tax Credit pays for itself, generates $29.8 billion in tax revenue and brings in $1.18 for every dollar spent. To ensure its inclusion, McKinley: Had more than a dozen contacts with leadership in the House, Senate, and Ways and Means Committee Chairman Kevin Brady Secured a promise from Chairman Brady on the House floor that the credit would be included in the final version. Led a bipartisan letter with 32 other Members voicing support for its inclusion. The corporate alternative minimum tax would have had devastating impacts on the coal industry. Coal companies invest heavily in new equipment, oftentimes doing so with large borrowing costs. The industry is very capital-intensive, with many leveraged employers. If the corporateAMT had remained in the tax code, paired with new limits on interest deductibility, many companies would have had a higher tax burden. To ensure this tax was removed from the final version, McKinley organized a letter to leadership with 26 members. McKinley signed onto a letter with 31 other Members requesting leadership to include the qualified tuition reductions and tuition assistance from employers provisions in the final tax reform bill. These provisions make college more affordable and ensure that our students aren't starting out in the workforce saddled with large amounts of debt. For more information about our releases, please contact (202) 225-4172 | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |