Tax Reform Bill Approved By House And Senate
Both the U.S. House and Senate have approved separate tax reform bills and will now come together in a committee to iron out the differences. U.S. Representative Clay Higgins of St. Landry Parish says the economy will sky rocket once they pass a bill that cuts corporate and personal income taxes.
Once the committee agrees on a tax reform plan, the House and Senate will have to pass it. Higgins says he’s confident the president will sign the Tax Cuts and Jobs Act before the end of the year. He says the U.S. hasn’t seen this type of economic stimulation in decades.
This would be Congress’ first rewrite of the tax code in nearly 30 years. The Senate’s bill would eliminate the requirement for individuals without health insurance to pay a penalty. Higgins supports that provision. He says this legislation can only benefit the United States.