CASE Statement on President Trump Signing Historic Tax Reform: Huge Victory for Consumers
Tax Reform Passage a Tremendous Win for America’s Workers & Consumers
(Arlington, Virginia) — Today CASE – Consumer Action for a Strong Economy – the nation’s foremost free-market consumer advocacy organization, issued the following statement hailing final passage of the Tax Cuts and Jobs Act as a historic win for consumers and future economic prosperity for our nation:
After years of promising to fix our broken, bloated, complicated and back-breaking tax code, Washington has finally delivered. While far from perfect, this tax reform legislation is historic in its profound impact to ignite long-term growth and economic expansion that will benefit all Americans.
The Tax Cuts and Jobs Act achieves several critical things to improve and strengthen our nation. First, it cuts the punitive tax rate on U.S. businesses that create jobs, allowing them to better compete in the global marketplace, invest capital for expansion, and attract investment to our shores. This will make America more productive and increase wages.
Second, it lowers rates on all wage-earners, allowing people to keep more of the money they earned to spend however they see fit. By over $100 billion will Americans see their income grow from this rate reduction alone, a significant boost to our earning power.
And just as critically, this reform untangles both businesses and individuals from the shackles of a complicated and unfair tax code that was loaded with politics and special-interest treatment for a chosen few. Congress has judiciously pared this down significantly, allowing our the code to much more clearly reflect the reality of individuals and industry acting freely in a market economy.
As we’ve seen for years, government is doing just fine, raking in record-breaking revenues from the American people on a consistent basis. Just as long, too many of America’s workers, consumers and taxpayers have been struggling to get by, looking for any break to get ahead. This historic achievement is a tremendous victory for all Americans, to finally have a tax code that works for them, and will lead to a better and more prosperous future for all.