Banks Supports Making Tax Cuts for Families and Small Businesses Permanent
Congressman Jim Banks (IN-03) today released the following statement after voting for the Protecting Family and Small Business Tax Cuts Act:
“When I travel across northeast Indiana, I constantly hear about the positive results from the Tax Cuts and Jobs Act. Because of tax reform, Hoosiers are seeing more opportunities and taking home larger paychecks. This legislation contains key provisions to make many of the tax cuts that help families and small businesses permanent.”
This legislation is one of three bills the House passed this week that comprise a Tax Reform 2.0 plan. More information about these bills below:
Protecting Family and Small Business Tax Cuts Act (passed today)
American Innovation Act (passed yesterday)
Family Savings Act (passed yesterday)
The tax cuts for individuals are currently set to expire in 2025. Today’s legislation passed the House by a vote of 220 to 191. All three bills now head to the Senate for consideration.