releases: https://rodneydavis.house.gov/news/documentsingle.aspx?DocumentID=399555
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| https://rodneydavis.house.gov/news/documentsingle.aspx?DocumentID=399555 | Davis Votes to Cut Individual Taxes, Plans to Introduce Bill Making Them Permanent | 2017-12-19 | 2017 | 2017-12 | Republican | House | IL | Rodney Davis | D000619 | rodneydavis.house.gov | legacy | Davis speaks in support of H.R. 1 and making individual tax cuts permanent. Click to watch/download video U.S. Rep. Rodney Davis (R-Ill.) today voted to advance the Conference Report to Accompany H.R. 1, the Tax Cuts and Jobs Act to the Senate. This bill cuts taxes for individuals at every income level and the numbers do not lie, this is a bill that focuses on middle-income earners, said Davis. By doubling the standard deduction, the first $12,000 of a single filer and $24,000 of a couples income will be tax free. We also double the Child Tax Credit to $2,000 for each child and make more families eligible to receive it. This bill maintains popular deductions for things like home mortgages, medical expenses, state and local taxes with a reasonable cap, and others. Because of these important provisions, the average family of four making the countrys median income of $73,000 will receive a $2,000 tax cut. This is an historic week as we work to cross the finish line to help hardworking taxpayers keep more of what they earn now. Making Individual Tax Cuts Permanent The original House bill made the individual tax cuts permanent, but due to limits within the Senate budget reconciliation rules, which is needed because no Democrats have signaled they will vote for the bill, they are set to expire in 2025 if not extended. This is how many of those same opponents of tax reform, including Senator Durbin, have released statements claiming this, According to the Joint Committee on Taxation, the bill will, on average, increase taxes on every individual making less than $75,000.What is not stated is these numbers are based on these tax cuts expiring and a future Congress failing to extend them. The intent was never to have these rates on individuals expire, but because of budget rules in the Senate and Democrats unwillingness to be part of the process, these tax cuts could expire in 2025 if a future Congress does not extend them, said Davis. I think that is unlikely given the Bush tax cuts were extended several times on a bipartisan basis, but I think we should make these tax cuts permanent now for the hardworking men and women in my district. As soon as the bill is signed into law, I will introduce a separate bill to make the individual tax rates permanent and give my Democrat friends another opportunity to support middle-income families in their districts. I hope we can get some bipartisan support because that is the only way we can get this done for the American people. Davis spoke about this on the House floor earlier today. Click here to watch. Higher Education Tax Provisions Davis led the effort to preserve higher education tax benefits in the final tax reform bill. Both the graduate tuition waiver (Section 117(d)) and employer tuition assistance benefits (Section 127) are maintained. Davis made the following statement after the conference report was released last week: No bill is perfect, but we fought to make it better and we did. This is the legislative process at work. I appreciate Chairman Brady and my other colleagues for coming together to preserve these provisions that will help graduate assistants and mid-level university employees trying to send their kid to college. Maintaining the employer tuition assistance provision helps those looking to further their education, but I also hope that one day we can use it to help address the one trillion-dollar existing student debt crisis that is facing our county." Ways and Means Committee Chairman Brady made this statement last week thanking Davis for his leadership on the higher education tax provisions: This is a historic moment for the American people. Our legislation to finally reform Americas 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 Brady (R-Texas). Im grateful to Congressmen Davis and Turner for their leadership on preserving graduate student tuition assistance and tuition waivers, and for their work in support of making pro-growth, pro-family tax reform a reality for the American people. More Details of H.R. 1 Below are details of H.R. 1. Click here for more information. Individual tax cuts: - Lower rates ensure individuals at every income level will see a tax cut. - Based on IRS numbers, the average family of four making the countrys median income of $73,000 will receive a $2,000 tax cut. - Doubles the standard deduction to $12,000/$24,000, which nearly one in four people in Illinois currently takes. - Doubles the Child Tax Credit to $2,000 with up to $1,400 refundable. - Retains popular deductions like mortgage interest (capped at $750,000 for new homes), state and local taxes (SALT) (capped at $10,000), medical expenses (expands to 10%), and charitable deductions. - Simplifies so nearly 90% of Americans will be able to file their taxes on a postcard. Business tax cuts: - Lowers rates for businesses of all sizes to create more American jobs and bring back more American businesses. The U.S. currently has the highest tax rates for businesses among any industrialized country. - Non-partisan Tax Foundation estimates that 37,010 full-time jobs will be created in Illinois. - 137 economists agree that it will lead to more jobs, higher wages, and a better standard of living for the American people. | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |