Conservative activist groups such as the Club for Growth and FreedomWorks lauded the tax blueprint released by Republicans on Wednesday.
Republicans released their tax reform blueprint on Wednesday that seeks to cut taxes on middle-class families and Americans businesses.
The Republican plan for tax reform would collapse the seven individual tax brackets into three and tax Americans at 12, 25, and 35 percent. The tax reform plank would raise the standard income tax deduction for single filers to $12,000, and $24,000 for families. The tax plan would also repeal the estate tax, also known as the death tax, and the alternative minimum tax. Republicans would also cut corporate tax rates to 20 percent, which would be lower than the 22.5 percent average of the industrialized world.
Club for Growth President David McIntosh lauded the Republican plan. McIntosh said in a statement, “Club for Growth is very encouraged and pleased with the long-awaited tax reform outline that the Big Six released today.”
Fundamental tax reform comes around only once in a generation, and this is our chance. The outline is both aggressive and very pro-growth with its rate reductions. Club for Growth congratulates the members of the Big Six for their hard work and will continue to support the pro-growth efforts of the Trump administration and Congress as they seek to make tax reform a reality. To this end, the Club will also work with Congress to pass a budget in order to get reconciliation tax instructions.
FreedomWorks President Adam Brandon said that Congress needs to design a tax code that would favor the American people over Washington, D.C., special interests. Brandon explained:
Americans are fed up with the rigged economy. They see a current tax code that benefits politically connected special interests. The framework released today represents a transformation of America’s tax code and would help the middle class. It simplifies a complex system that taxpayers spend billions annually to comply with and will spur economic growth, allowing American businesses to increase wages and create more jobs.
Heritage Action chief executive Michael Needham charged, “We have a once in a generation opportunity to fundamentally reform our nation’s stagnant and convoluted tax code that suppresses American job creators and workers. Heritage Action applauds President Trump and congressional leaders for uniting behind a coherent set of reforms and reductions that align with conservative priorities. If enacted, there is no doubt such a plan would unleash economic growth, create jobs and increase wages.”