WASHINGTON, D.C. – The U.S. House of Representatives passed three pieces of legislation, the Family Savings Act of 2018, the American Innovation Act of 2018 and the Protecting Family and Small Business Tax Cuts Act of 2018, that make up the “Tax Reform 2.0” package.
As a whole, the package makes the individual and small business tax cuts created by the Tax Cuts and Jobs Act permanent, supports small business by making it easier to create retirement plans for employees, helps start-up businesses grow and gives families new tools to prepare for their future.
Rep. Mike Johnson (LA-04) released the following statement:
“Thanks to the Tax Cuts and Jobs Act, we now have one of the most competitive tax codes in the world, and it is imperative we keep it that way. Tax Reform 2.0 makes the individual and small business tax cuts permanent, grows small businesses, and helps families save and plan for the future. Democrats have repeatedly called for additional measures that support hardworking Americans, yet the majority of them voted against these proposals. Rest assured, my Republican colleagues and I will continue to support legislation that provides real relief to all Americans.”