Tags: steve scalise | GOP | tax reform | benefits

Scalise Predicts 'Tremendous Benefits' From Tax Bill

(Fox News/"Fox & Friends")

By    |   Thursday, 02 November 2017 11:34 AM

House Majority Whip Steve Scalise predicted "tremendous benefits" across the board for taxpayers under a Republican tax-reform package due for release Thursday.

The Louisiana Republican told Fox News that the bill preserves deductions for home mortgages, interest rates and state and local taxes. He added that the top rate on the wealthiest Americans will remain at 39 percent, but middle class rates will be lowered and the standard deduction doubled. The bill will also make no changes to 401 (k) plans. 

"Home mortgage (deductions) are still in place. You can also deduct property taxes. State and local taxes go away," he told "Fox & Friends" Thursday. 

"It's going to be a great win for middle class families, for blue-collar workers," he said, adding the bill will provide "tremendous benefits across the board."

The bill also cuts the corporate tax rate currently at 35 percent, the highest in the industrialized world.

"It's going to make us competitive again," he said, noting that "jobs are fleeing" the United States to nations such as Canada and Ireland, which have much lower corporate rates.

Scalise praised President Donald Trump, who "has been the champion of this from the beginning."

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House Majority Whip Steve Scalise predicted "tremendous benefits" across the board for taxpayers under a Republican tax-reform package due for release Thursday.
steve scalise, GOP, tax reform, benefits
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2017-34-02
Thursday, 02 November 2017 11:34 AM
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