Washington, D.C. - Earlier today Congressman Rick Crawford (AR-01) voted in favor of the Tax Cuts and Jobs Act, H.R. 1. Upon passage he released the following statement:
"Today, I supported the U.S. House’s Tax Cuts and Jobs Act because it significantly simplifies the tax code and would allow more middle-income families and businesses in the 1st District of Arkansas to invest in themselves rather than in the federal government. In addition to nearly doubling the standard deduction for individuals and married couples, a median U.S. family of four would receive a $1,182 tax cut, and taxpayers across the board would see an increase in their after-tax income. This version of the bill also expands the child tax credit while preserving the adoption tax credit and popular retirement savings mechanisms. This bill also lowers the top rate from 39.6 percent to 25 percent for small businesses, and it reduces the tax rate on the smallest pass-through businesses to 9% within 5 years. In the coming weeks, I’ll continue to monitor the Senate’s version in advance of a final vote on tax reform."