Manchin Introduces Amendment to Republican Tax Plan for West Virginians
Washington, D.C. – U.S. Senator Joe Manchin (D-WV) introduced an amendment to the Republican tax plan to recommit the bill back to the Finance Committee in order to permanently secure tax cuts for middle-class, working people, and small businesses and to keep the medical expense deduction, the student loan interest deduction, the retirement savings incentives, the homeownership incentives and the historic tax credit.
“My amendment would simply send this legislation back to the Senate Finance Committee with instructions to change provisions important to West Virginians,” Senator Manchin. “First, it would call for the reductions on individual tax rates for middle class and working people to be made permanent. Currently, individuals receive temporary relief, while corporate changes are made permanent – a gimmick that provides uncertainty to West Virginia taxpayers. Next it directs the committee to maintain important priorities like the medical expense deduction, student loan interest deduction, retirement savings incentives, homeownership incentives and the historic tax credit.
“It’s important that we provide this permanent relief to American taxpayers who are slated to see higher taxes as rates go up in the later years of this bill. In my state alone, 79% of West Virginians make under $75,000 and will see their taxes spike as their tax relief expires. Finally, the amendment calls for small businesses to receive much needed relief and for the corporate tax rate to be set at 25%. In my state 95.6% of business are small businesses and employee over 50% of West Virginians.”
To read the text of the amendment, click here.
Next Article Previous Article