Tags: Trump Administration | Trump Tax Reform | mark meadows | tax reform | cuts

Rep. Meadows: Landmark Tax Reform Means Cuts for Almost All

Rep. Meadows: Landmark Tax Reform Means Cuts for Almost All
(AP)

By    |   Wednesday, 20 December 2017 02:49 PM

Landmark tax reform legislation doesn't divide its benefits between rural or urban taxpayers, as it makes sure almost everyone gets a cut, House Freedom Caucus Chairman Mark Meadows said Wednesday.

"When you look at it, the Tax Policy Center, which is a nonpartisan analysis, said that less than 5 percent of the American people would not get a tax break," the North Carolina Republican, whose district is approximately 60 percent rural, told MSNBC's "Morning Joe" program. 

"For my constituents, the average taxpayer will get over a $2,000 refund check that they wouldn't have got under a Democratic administration, so it's a good day for my district, not just my district — from coast to coast."

Meanwhile, there is the issue of debt and the deficit, Meadows agreed, so more effort has to be taken to slow down the growth of government.

"Really, government has grown, has been growing twice as fast as paychecks back home on Main Street, so what I propose is that we slow down the growth, not cut government spending," he commented.

Further, Meadows said he believes the growing deficit is the nation's "No. 1 security risk."

"When we're looking at the Department of Defense, I believe we need to give more money to our fighting men and women and less money to those in the Pentagon, just a few miles from here," said Meadows.

"I believe that we could probably cut some of the fat from there."

The congressman also talked about the corporate tax cuts involved in the bill, saying that he met with approximately 150 CFOs and CEOs during the tax debate, and the new foreign tax structure will provide incentives to bring jobs back.

"One is the incentive to bring back those earnings," said Meadows. "What will happen is that they can write off 100 percent of that for the next five years.

"That's a good thing. When you start looking at bidding factories in the United States versus building them in Vietnam or other places, obviously it means more jobs and certainly puts pressure to make sure that wages go up.

"There's nothing that says you have to spend it on this, but there are great financial incentives to have them do that."

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Landmark tax reform legislation doesn't divide its benefits between rural or urban taxpayers, as it makes sure almost everyone gets a cut, House Freedom Caucus Chairman Mark Meadows said Wednesday.
mark meadows, tax reform, cuts
370
2017-49-20
Wednesday, 20 December 2017 02:49 PM
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