In the News
Dec 19 2017
Sen. Joni Ernst said Democrats' claims that the bill will benefit only big corporations and the wealthy are just talking points.
Ernst said the mood is upbeat in Washington with lawmakers close to accomplishing a Republican goal to pass the largest tax overhaul in 30 years.
"The level of optimism, you can feel it in the air,” Ernst said.
She says lowering the corporate tax rate to 21 percent will help the economy in the Heartland.
"I've heard from a lot of those corporations in Iowa that say this is a great opportunity for them to expand their lines now, which means hiring new employees,” Ernst said. “Some of them have said, ‘This is the opportunity I need to give my employees greater benefits.’”
Ernst said many Iowa families will be happy with how the tax overhaul plays out and pays out.
Congressman David Young said Iowans have been waiting for tax relief.
“They’re excited about increasing,” Young said. “They’re increasing the child tax credit, bringing down the individual rate so they can just have more take home pay,” Young said. “People are getting squeezed and this is gonna put more money in their pockets.”
The Iowa Democratic Party released a statement today saying, in part, “By repealing the individual mandate, Republicans are putting health insurance out of reach for 13 million Americans.
“The GOP has prioritized cutting the estate tax for the richest 70 families in Iowa. The tax bill will add nearly $1.5 trillion to the deficit over the next decade.”
The Senate is expected to vote and approve the tax bill Tuesday evening.
A White House spokesperson says Americans will start seeing the benefits in their paychecks in February.