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Tax Reform

On December 22, 2017, President Donald J. Trump signed H.R. 1, the Tax Cuts and Jobs Act into law. This historic legislation marked the first overhaul of the American tax code since 1986. 

H.R. 1 transformed our outdated and overcomplicated tax code into a fair and simple system that keeps big government out of the pockets of hardworking Tennesseans, while also allowing families and business owners to keep more of their hard-earned dollars.

Before the Tax Cuts and Jobs Act the American corporate tax rate was the highest in the world, and as a result put American businesses at a competitive disadvantage in the global economy. Thanks to the Tax Cuts and Jobs Act our corporate tax was reduced from 35% to 21%. Finally, American entrepreneurs and business owners have a tax system that will make America more competitive on a global scale.

For over 30 years, East Tennessee families had less of their paychecks to use as they pleased, and were paying too much in taxes. With the passage of the Tax Cuts and Jobs Act a typical family of four in Tennessee will see a tax cut of just over $2,000. In addition, H.R. 1 dramatically increased the standard deduction from $6,500 and $13,000 to $12,000 and $24,000. For families with children, the Tax Cuts and Jobs Act expanded the Child Tax Credit, from $1,000 to $2,000 making it easier to raise a family, save for the future, and enjoy a better quality of life.

As your Congressman I will continue to support a pro-growth, pro-business agenda with the best interests of East Tennessee families and businesses in mind.

More on Tax Reform

October 2, 2018 Press Release

CHATTANOOGA, TN — Congressman Chuck Fleischmann (TN-03) issued the following statement after receiving the “Guardian of Small Business” award from The National Federation of Independent Business (NFIB):

December 19, 2017 Press Release

 

Washington, D.C.— Congressman Chuck Fleischmann (TN-03) released the following statement upon the passage of the Conference Report to Accompany H.R. 1, The Tax Cuts and Jobs Act:

November 16, 2017 Press Release

WASHINGTON, D.C. — Congressman Chuck Fleischmann (TN-03) issued the following statement upon the passage of H.R. 1, the Tax Cuts and Jobs Act, historic legislation to reform the American tax code:

November 2, 2017 Press Release

Washington, D.C. — Congressman Chuck Fleischmann (TN-03) released the following statement upon the release of the Tax Cuts and Jobs Act:

October 5, 2017 Press Release
Congressman Chuck Fleischmann (TN-03) released the following statement after voting in support of H.Con.Res. 71, the FY18 Budget:
September 27, 2017 Press Release
Congressman Chuck Fleischmann (TN-03) released the following statement in support of the Republican tax reform framework released today:
December 17, 2015 Press Release

WASHINGTON− Today the House of Representatives passed the Protecting Americans from Tax Hikes (PATH) Act that will provide much needed relief and certainty to America’s small businesses.  Congressman Fleischmann released the following statement after passage of the bill.

May 7, 2014 Press Release

WASHINGTON−This evening, the House of Representatives voted to hold Lois Lerner, a former top official at the IRS, in contempt of Congress. On two separate occasions, Lerner refused to answer questions about the IRS’s reported targeting of political groups while asserting her innocence. After the vote, Congressman Fleischmann released the following statement.

January 2, 2013 Press Release
WASHINGTON− Congressman Chuck Fleischmann issued the following statement tonight after the passage of H.R. 8.
September 13, 2012 Press Release
WASHINGTON−Congressman Chuck Fleischmann was awarded the “Guardian of Small Business Award,” by the National Federation of Independent Business (NFIB), the nation’s leading small business advocate.

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