Blaine's Bulletin: A Tax Day to Celebrate
Washington, April 20, 2018
As the saying goes, the only certainties in life are death and taxes. Each year at this time we are reminded of that second certainty. Tax Day is sure to bring stress and frustration as Americans attempt to navigate our complicated and outdated tax code, but this year is different. Tax Day 2018 marked the last day of our 32 year-old tax code.
This past Tuesday marked the filing deadline for 2017 taxes, and the last time Missourians will have to follow the old system. In December, President Trump signed the Tax Cuts and Jobs Act into law, simplifying and modernizing our outdated tax code. I was proud to support comprehensive tax reform to provide more jobs, fairer taxes, and paychecks for families in Missouri and across the nation. The legislation provides more freedom to families: the freedom to choose the healthcare plan your family needs; the freedom to save time by filing your taxes in a simple and straightforward way; and the freedom to keep more of your paycheck and decide how to best spend it for your family.
A local car dealer recently told me about customers who have been able to afford a new car because of their higher paychecks or bonuses thanks to tax reform. This was in the middle of winter when car sales traditionally slow down due to the cold, snowing weather. I also heard from a constituent who wrote me a letter to share how tax reform has affected her family. Due to the new law, their family keeps an extra $200 dollars a month. Although some in Washington, D.C. may call that “crumbs,” she explained that money pays for piano and swimming lessons for their six-year-old daughter each month. That is real money, and it means very real things for families here in Missouri.
Next year, Missourians will see many major changes come tax season. Americans will be able to file their taxes on a simpler form. Families will be able to take advantage of a doubled child tax credit, and the standard deduction will nearly double as well. You will not have to tell the IRS whether or not you have health care because we repealed the Obamacare mandate. Most importantly, next year the average family of four in Missouri’s Third Congressional District will see savings of more than $2,000.
Whether you’re paying for swimming lessons, saving for a home, or expanding your small business, tax reform was put in place to help everyone achieve the American Dream. While none of us will ever look forward to taxes, it is very encouraging knowing Tax Day 2019 will be the easiest we’ve had in decades.