Tags: IRS | Trump Tax Reform | kevin mccarthy | middle class | tax cut | no-tax for first 55K | family four

Kevin McCarthy: First $55K of Middle-Class Income Not Taxed

Kevin McCarthy: First $55K of Middle-Class Income Not Taxed
House Majority Leader Rep. Kevin McCarthy and President Donald Trump (Alex Wong/Getty Images)

By    |   Sunday, 05 November 2017 11:41 AM

House Majority Leader Rep. Kevin McCarthy vowed Sunday there will be tax cuts for everyone in the middle class in the GOP’s new tax bill.

In an interview on CBS News’ “Face The Nation,” the California Republican lawmaker pushed back against conflicting analyses about tax relief for the middle class — and how long it would last.

“Tbe first $55,000 a family of four earns will not be taxed at all,” he said of a provision in the GOP tax plan.

“We are cutting rates,” he added, calling the no-tax on the first $55,000 for families of four “a tax cut.”

He also disputed that sun-setting provisions that include the child tax credit will wind up making middle class families pay more in 2023 and 2024.

“We’ve made most everything permanent,” he said, adding rules of the Senate prevented making the child tax credits permanent.

“But I will promise you this: As the growth comes in, those will be kept,” he said. “They will not go away within the tax credit in the sixth and seventh year. …we know with growth …we will keep those in the sixth, seventh, eighth, and ninth and 10th years.”

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House Majority Leader Rep. Kevin McCarthy vowed Sunday there will be tax cuts for everyone in the middle class in the GOP's new tax bill.
kevin mccarthy, middle class, tax cut, no-tax for first 55K, family four
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2017-41-05
Sunday, 05 November 2017 11:41 AM
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