House GOP Unveils Details of its Tax Reform Bill

House Ways and Means Committee Chairman Kevin Brady, R-Texas, joined by Speaker of the House Paul Ryan, R-Wis., right, holds a proposed “postcard tax filing form” as they unveil the GOP’s far-reaching tax overhaul, the first major revamp of the tax system in three decades, on Capitol Hill in Washington, Thursday, Nov. 2, 2017. (AP Photo/J. Scott Applewhite)

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House Speaker Paul Ryan says the average American family will save more than $1,000 a year under the Republican’s tax reform bill.
During a news conference on Thursday to announce the details, Ways and Means Committee Chairman Kevin Brady said the bill will help create more jobs and bring trillions of dollars back to the U.S.  House Majority Leader Kevin McCarthy said every single American will be able to keep more of what they earn.
Rep. Ryan added, “The focus is directing that tax relief to the people in the middle and the people who are trying to get there and that is why we put our emphasis on that tax relief for those people who are in the middle, who are working paycheck to paycheck, striving to get ahead.” Ryan went on to say Republicans will fulfill their promise of passing this bill.
Pres. Trump praised the bill saying economic growth, more jobs, and higher wages are what Americans can expect from the tax plan, which includes an increase in the child tax credit and repealing the estate tax.
He met with House Republicans on Thursday afternoon and said he does not think it needs any changes and hopes it can be passed by Christmas.
However, the Ways and Means Committee is scheduled to mark up the bill on Monday.