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Tax Reform Signed Into Law

Historic Legislation Includes Ernst’s SQUEAL Act

WASHINGTON, D.C. – U.S. Senator Joni Ernst (R-IA) issued the following statement after President Trump signed the Tax Cuts and Jobs Act, which includes the SQUEAL Act, into law:

“This is a monumental moment for our country; this tax reform, on average, will provide every income group with tax relief. Under this law, middle- and low-income Iowans will see lower tax rates, ObamaCare’s costly individual mandate will be eliminated, folks will be able to keep more of their hard earned dollars, the child tax credit is doubled, and job creators of all sizes will be more competitive and can reinvest in their most important resource – their employees.

“The Tax Cuts and Jobs Act also included two of my provisions: the SQUEAL Act, which eliminates an unnecessary tax break for lawmakers, and the bipartisan Investing in Opportunity Act which helps spur economic growth in poverty-stricken areas. I am thrilled to see my efforts and many other commonsense initiatives included in this long-overdue reform so that Iowans will finally be able to see relief from an overly-burdensome tax code, first-hand.”

Senator Ernst’s efforts included in the Tax Cuts and Jobs Act: