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Mast Statement on Passage of First Major Tax Reform Since 1980s

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U.S. Congressman Brian Mast (FL-18) today released the following statement after the U.S. House of Representatives passed the Tax Cuts and Jobs Act:
“Bureaucrats in D.C. seem to forget that every dollar they spend is the result of somebody else’s labor.  It’s about time that we make the government do more with less and empower the American people to do more with more.
“This is a great accomplishment: the first major tax reform since the Reagan Administration.  Our bill simplifies the tax code, doubles the standard deduction for all families, and most importantly, cuts taxes for low- and middle-income families who are struggling just to get by.  Every dollar less the government takes, and every dollar more that you keep in your pocket, is a big win.  That’s exactly what this bill does and why it will grow middle class paychecks in Florida by more than $2,250 and lead to the creation of more than 55,000 new jobs.” 
Background
The Tax Cuts and Jobs Act: 

  • Lowers individual tax rates for low- and middle-income Americans to 0%, 12%, 25%, and 35% so people can keep more of the money they earn throughout their lives, and continues to maintain the 39.6% rate for the wealthiest Americans.
  • Significantly increases the standard deduction to protect roughly double the amount of what taxpayers earn each year from taxes – from $6,350 to $12,000 for individuals and $12,700 to $24,000 for married couples.
  • Eliminates special-interest deductions that increase rates and complicate Americans’ taxes, so an individual or family can file their taxes on a form as simple as a postcard.
  • Establishes a new Family Credit, which includes expanding the Child Tax Credit from $1,000 to $1,600 to help parents with the cost of raising children and provides a credit of $300 for each parent and non-child dependent to help all families with their everyday expenses.
  • Reduces the tax rate on the business income of Main Street job creators to no more than 25% – the lowest tax rate on small business income since World War II.
  • Lowers the corporate tax rate to 20%, down from 35%, which today is the highest in the industrialized world.
  • Maintains the Mortgage Interest Deduction for mortgages up to $500,000.
  • Maintains popular deductions that help low- and middle-income families, such as the Earned Income Tax Credit, charitable deductions and deductions on 401(k) retirement accounts.

The bill would:

  • Lead to the creation of an additional 56,530 jobs in Florida, according to the nonpartisan Tax Foundation.
  • Raise after-tax income for middle class families in Florida by an average of $2,252, according to the nonpartisan Tax Foundation.
  • Allow 41,887 taxpayers in the 18th District that claim the child tax credit to deduct an addition $600 per child.
  • Drastically reduce taxes for 61,644 taxpayers in the 18th District that have small business income – capping the rate at 25%.
  • Simplify tax filing for many of the 105,875 taxpayers who currently itemize their taxes, as a result of doubling of the standard deduction and other simplifications.

Sen. Bill Nelson's opening remarks on tax reform

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Circa 5:00 p.m., U.S. Sen. Bill Nelson (D-FL) will deliver opening remarks at today’s Senate Finance Committee meeting as the panel begins consideration of the Republican’s tax plan. Below is an advance copy of Nelson’s remarks as prepared for delivery. You can watch a live stream of the committee’s hearing here.
U.S. Sen. Bill Nelson
Opening Remarks on Tax Reform (as prepared for delivery)
Senate Finance Committee
Nov. 13, 2017
I want to talk about bipartisanship. It’s the best way to ensure a good outcome for ordinary Americans – and it’s what the American people want.
Is anyone proud of the way this process has been playing out?
Here we are, working on a major tax bill – a bill that will inevitably touch every single American in some way, shape, or form – and in some cases, in ways that even the drafters of the bill don’t know.
We are completely rewriting our tax code. Yet, we haven’t had any hearings on the bill. Or any time to seriously debate the slew of policy changes that will affect people’s everyday lives.
For example, we got word the other day that the Joint Committee on Taxation didn’t know if the new pass-through deduction in the Chairman’s mark includes business income made in Puerto Rico.
To me, that would seem like an important point we probably should get an answer on before we move forward.
My point is: this isn’t the way we ought to be operating. Everyone here knows it.
We should be working together to negotiate a truly bipartisan tax plan, instead of throwing this all together on the fly.
We have a duty to serve the American people to the best of our ability – and Mr. Chairman, I would suggest: we are better than this.
Working together in a bipartisan way is not a radical idea – at least, it shouldn’t be. We’ve done it before.
Mr. Chairman, how many times have we come together to find common ground and get something good done for the American people?
Just last year, we passed the Retirement Enhancement and Savings Act out of committee with a bipartisan vote of 26 to 0. It started with you and the Ranking Member hashing out differences to find a workable middle. Why can’t we do that again?
And let’s not forget the work we did in the Puerto Rico Task Force and on the identity theft-related tax fraud bill. It took months of bipartisan talks before we had a package that everyone could agree on – not just one party.
Is it too much to ask for this – a total rewrite of the tax code – to go through the same amount of rigor?
Senator Grassley, we worked together on the ACE Kids Act, which would create a national network of children’s hospitals and other providers to better serve kids needing specialized care.
Senator Cornyn, we’ve worked together to increase accountability at the VA, to honor helicopter air ambulance crews that served in Vietnam, and to help citrus growers struggling to deal with a plant disease known as citrus greening.
Senator Thune, you and I have partnered on so many issues in the Commerce Committee it’s hard to keep count. If anyone wants a good example of how we should be conducting ourselves, just look to how Senator Thune and I work together in the Commerce Committee.
Senator Burr, we partnered on a bill to help those affected by the water contamination at Camp Lejeune – not to mention the work we’ve done to stop the spread of the Zika virus. An issue I’ve also worked with Senator Cassidy on.
Senator Isakson, we worked together on several veterans’ issues, including a bill to improve VA opioid treatment practices.
You all get the picture. I could go all the way down the line citing examples of times when each of us crossed the partisan divide to do the people’s work. It doesn’t happen as much as I’d like. But it is possible.
We all want tax cuts for the middle class. We all want to help local small businesses. We all want to make the tax code simpler, fairer, more competitive, and more efficient.
But we should have a more deliberative process than this. One that is inclusive, and brings members from both parties into the process.
I am hopeful that this markup isn’t just for show and that some of our amendments will be given serious consideration. Because at the end of the day what we need is balance. That’s the focus of my amendments. And that should be the focus of this Committee.
I appreciate the work the Chairman and his staff have put into this.
All I’m asking is to give bipartisanship a chance.

U.S. House Introduces Pro-Growth Tax Reform Today

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The Main Street Growth & Opportunity Coalition, a group of statewide associations and small business owners, supporting the urgency behind pro-growth tax reform to help businesses grow and create jobs, which will lead to a healthier, more secure economy.
The U.S. House of Representatives today introduced legislation to help America continue to flourish as a great nation. We can do better by updating our outdated tax code and the coalition urges swift passage of tax reform this year.
“We commend the U.S. House for taking the necessary steps to reform our 30-year old tax code today,” said Julio Fuentes, President & CEO of the Florida State Hispanic Chamber of Commerce. “We are behind the Florida Congressional delegation, across party lines, to push for tax reform this year and urge the public to do the same.”
“Our U.S. economy has been operating under the same tax code since Ronald Reagan was president, 30 years ago,” said Amanda Prater, small business owner in Tallahassee, Florida. “Small businesses represent 99.7 percent of U.S. employers and our elected officials should continue to protect the free market by passing comprehensive tax reform this year.”
“Yours truly, a blue dog Democrat supporting GOP tax reform. We are in the land of political unknowns on many issues, however tax reform is a no-brainer and should pass with flying colors this year,” said Barney Bishop, President & CEO of Barney Bishop Consulting, LLC. “As a small business owner and consumer advocate, I fight for my clients’ success which is largely inhibited by our 30-year old tax code. Support tax reform across the aisle this year and urge your officials to do the same.”

Tax Reform Conference Call Tuesday at 11 am

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MEDIA ADVISORY

Prospects for Tax Reform – View from the States

On Tuesday, April 11th at 11:00 A.M. ET, the National Black Chamber of Commerce will host a media teleconference to discuss the U.S. House of Representatives, Ways and Means Committee tax reform blueprint and the positive economic impact it will have on small and mid-sized businesses in states across the nation. The call will feature business voices from Florida, Nevada, and Louisiana who will give their perspective on how the blueprint’s pro-growth provisions—such as lower tax rates and full expensing—will enable local companies to expand and invest, creating jobs and bringing economic opportunity to their communities.
The NBCC reaches more than 100,000 African-American-owned small and mid-sized businesses and is dedicated to economically empowering and sustaining African American communities through entrepreneurship and capitalistic activity within the United States.
WHO:

  • Harry Alford, President and CEO, National Black Chamber of Commerce
  • Barney Bishop, immediate past president of Associated Industries of Florida (Tallahassee, FL)
  • Randi Thompson, State Director, National Federation of Independent Business (Reno, NV)
  • Arnold Baker, former board chairman of the National Black Chamber of Commerce and CEO of Baker Ready Mix Concrete and Building Materials

WHAT: Media Conference Call
WHEN: Tuesday, April 11, 2017, 11:00 a.m. ET
CALL IN NUMBER: 1-888-225-8047
RSVP: [email protected]

City Officials Talk Tax Reform, Flood Insurance and Infrastructure Funding with Florida’s Congressional Delegation

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Florida League of Cities Federal Action Strike
Team (FAST) Members Bring Local Issues to D.C.

Florida’s 412 municipalities have to deal with a wide range of issues in their communities, many of which are governed and financed by federal legislation and programs. With a new Congress in Washington that includes several freshman members from Florida, municipal officials have a unique opportunity to build relationships with members of the state’s Congressional Delegation and discuss issues of importance for cities and citizens.

With tax reform, infrastructure funding and flood insurance high on the list of pressing issues for Floridians, the Florida League of Cities Federal Action Strike Team (FAST) recently visited members of Florida’s Congressional Delegation in Washington, D.C., to remind them about what’s most important to their constituents back home.

Twenty-eight Florida municipal officials representing all regions of the state participated in the 2017 FAST Fly-in. On this bi-annual advocacy trip, the FAST team met with 20 members of Florida’s Congressional Delegation and staff, including Senators Bill Nelson and Marco Rubio. Before attending meetings with Florida’s senators and members of Congress, the group visited the National League of Cities (NLC) offices for a federal briefing from the NLC Federal Relations Team.

“Our Florida League of Cities Federal Action Strike Team had yet another successful trip to Washington,” said FAST Chair and Longwood Mayor Joe Durso. “League members should be proud of the leadership that FAST members showed as we continued to advocate for tax reform policies that are not harmful to cities, a fair playing field for our local businesses, commonsense flood insurance reform and reliable infrastructure funding.”

FAST team members were prepared to discuss statewide issues with real-world examples of how their hometowns are affected and may be affected in the future. This year’s federal agenda focused on preserving the tax-exempt status of municipal bonds, improving the FEMA Public Assistance Program, and maintaining support for an equitable federal flood insurance program. 

“One of the best things about the FAST team is the many different cities its members represent. From small to large, rural to urban and everything in between, these municipal officials demonstrate the wide range of challenges that a state as geographically and economically diverse as Florida faces,” said FLC Legislative Director Scott Dudley. “Each participant brought a unique perspective to our meetings, which helped our members of Congress get a better understanding of how the issues we discussed really impact Florida’s cities.”

The FAST committee was created in support of the League’s strategic plan objective to strengthen its federal relations. The primary purpose of the committee is to establish proactive and reactive communications with the Florida Congressional Delegation in support of federal municipal policy. The committee takes its policy positions and direction from the League’s resolutions and the National League of Cities policy priorities, as well as from the League’s officers and board.

FAST members meet throughout the year, at the two FLC conferences in Florida and two delegation visits to Washington, D.C., each year.

Founded in 1922, the Florida League of Cities is the united voice for Florida’s municipal governments. Its goals are to promote local self-government and serve the needs of Florida’s cities. Florida’s cities are formed by their citizens and governed by their citizens. The League is founded on the belief that local self-government is the keystone of American democracy. For more information, visit www.floridaleagueofcities.com.