Some Georgia Republicans in Washington are praising President Donald Trump’s tax plan, which was unveiled this week.
The plan was developed in partnership with congressional officials, including the Senate Committee on Finance and the House Ways and Means Committee.
The White House said Trump’s plan includes a tax cut that will entail lower tax rates for individuals and small businesses, lower corporate tax rates by 20 percent and a larger zero tax bracket.
Other parts of the plan include doubling the standard deduction to $12,000 for individuals and $24,000 for married couples, reducing seven tax brackets to three (with rates of 12 percent, 25 percent and 35 percent), creating a new $500 tax credit for people who are caring for an adult dependent or elderly family member, and expanding the child tax credit.
U.S. Sen. Johnny Isakson, R-Ga., said the proposal comes after years of work by the Senate Committee on Finance, of which Isakson is a member, to address tax issues.
“Our competitiveness as a nation is at stake,” Isakson said. “By simplifying our broken tax code and leveling the playing field, we can help strengthen America’s standing in the global marketplace, increase domestic economic growth, create more jobs with higher wages, and provide tax relief for hardworking Georgians.”
FairTax proponent U.S. Rep. Rob Woodall, R-Ga., said in a statement on Facebook that the proposal represented an “opportunity to achieve once in a generation tax reform.”
“It’s a big step in the right direction, and will absolutely benefit American families and the American economy — and it’s not the end of the discussion,” Woodall said. “There’s more to do. As you know, I’ve fought for fundamental tax reform in the form of the FairTax (H.R. 25), but the White House isn’t on board just yet.
“However, the White House is on board with its principles of simplicity, fairness and the elimination of damaging taxes such as the Death Tax and business-crushing Alternative Minimum Tax — all of which are present in the proposal released today.”
U.S. Sen. David Perdue and Rep. Jody Hice, both R-Ga., also praised the plan.
“President Trump said job one is to grow the economy and the goals he outlined today are guaranteed to make that happen,” Perdue said. “President Trump and I both come from the business world. We have spent years working and competing globally.
“Changing our tax code will make us competitive again. We have to lower the corporate rate, eliminate the repatriation tax, and simplify the individual code. Implementing these changes will benefit American workers, lift up American families, and ultimately help us start solving our $20 trillion national debt crisis.”
Hice said, “I really like what I’m seeing so far with the tax reform framework. This bold, new proposal is just the first step toward creating a system that is both competitive and fair. I’m pleased that it will empower Americans to take home more of their hard-earned paychecks and enable businesses of all sizes to grow and thrive.”
selling tickets to
The Gwinnett County Democratic Party will hold a black-tie gala and awards dinner Oct. 21 as a fundraiser for the organization, and officials said tickets are now on sale.
The dinner will be held at 6 p.m. Oct. 21 at Embassy Suites, 2029 Satellite Blvd. in Duluth. Tickets cost $100 for individuals, $175 for couples and $750 for a table of 10, and they can be purchased at http://bit.ly/2wmH8A6.
• The United Tea Party of Georgia will meet at 7:30 p.m. Thursday at the Flying Machine Restaurant, 510 Briscoe Boulevard in Lawrenceville. Check www.utpog.com/meetings for updates on the meeting agenda.
• The Gwinnett County Republican Party will host News Radio 106.7 FM’s Kim “Kimmer” Peterson at its monthly breakfast at 9 a.m. Oct. 7. The meeting will be held at the party’s headquarters in Gwinnett Place Mall.
Political Notebook appears in the Wednesday and Sunday editions of the Gwinnett Daily Post.