Walorski Marks Final Tax Day Under Broken Tax Code
Hoosiers Will See Tax Cuts, Bigger Standard Deduction, Simplified Tax Code Next Year
WASHINGTON – U.S. Rep. Jackie Walorski (R-Ind.) today released the following statement ahead of Tax Day, which this year falls on Tuesday, April 17th:
“No one looks forward to Tax Day, but this year there’s some good news: it’s the last time Americans will have to file their taxes under the old, broken tax code. Hardworking Hoosiers are already seeing the benefits of historic tax cuts, including bigger paychecks, more job opportunities, and a growing economy. And when Tax Day comes again next year, working families will be able to keep more of the money they earn and spend less time filing their taxes under a fairer, simpler tax code.”
The Tax Cuts and Jobs Act, which was signed into law at the end of 2017, cut taxes for Americans at all income levels. When taxpayers file their 2018 taxes next year, they will do so under a simpler tax code with lower rates, a nearly-doubled standard deduction, and a doubled child tax credit. According to the Ways and Means Committee, the average middle-income family in Indiana’s 2nd District will see a tax cut of $1,979.
The House this week will consider several bipartisan bills to overhaul the Internal Revenue Service (IRS), including a measure introduced by Congresswoman Walorski to strengthen IRS accountability for modernizing its information technology (IT) systems.
Walorski represents the 2nd Congressional District of Indiana, serving as a member of the House Ways and Means Committee.