Tags: andy biggs | tax cut plan | retroactive to 2017

Rep. Biggs: Make Tax Cuts Retroactive to 2017

Rep. Biggs: Make Tax Cuts Retroactive to 2017
Rep. Andy Biggs (Tom Williams/AP)

By    |   Tuesday, 07 November 2017 01:15 PM

Rep. Andy Biggs, R-Ariz., wants the GOP tax cut plan made retroactive to 2017.

Biggs' comments came in a letter to House Speaker Paul Ryan, R-Wis., and Rep. Kevin Brady, R-Tex., chairman of the Way and Means committee.

"First and most important, we should implement all tax rate reductions and other provisions of the Tax Cuts and Jobs Act (H.R. 1) retroactive to January 1, 2017," he said. "While I appreciate that filers will see immediate benefits arising from decreased withholding in their paychecks already by January 2018, these same taxpayers will also fail to notice that their respective tax burdens have not decreased. Needless to say, the political fallout for Republicans could be dire.

"Delaying the tax cuts may also slow our nation's economy. Since President Trump took office in January, our nation has seen three consecutive quarters of economic growth in excess of 3 percent. By applying full retroactivity to this tax reform package and returning more hard-earned money back to individuals and small businesses to spend or invest as they see fit, we will be in the best position possible to capitalize on the enormous economic growth of the past few months."

Word of the lawmaker's letter came in a report by The Hill.

The website noted Republicans are hoping to pass a tax package and have it signed by the end of 2017. It reported making the cuts retroactive would result in a big lump sum payment for many taxpayers, but would also add to the deficit.

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Rep. Andy Biggs, R-Ariz., wants the GOP tax cut plan made retroactive to 2017.
andy biggs, tax cut plan, retroactive to 2017
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2017-15-07
Tuesday, 07 November 2017 01:15 PM
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