Dear Jackson
I wanted to make sure you saw this important update from Washington this week!
My Republican colleagues and I on the Ways and Means Committee took a critical step in delivering on President Trump's America First policy agenda by extending pro-growth tax cuts and relief for working families and small businesses in West Texas.
Included in the bill are priorities I led which cut taxes, rein-in burdensome regulations, and strengthen healthcare for Rural America.
My legislation included in the committee-passed bill:
- The ALIGN Act
- The Accelerate Long-Term Investment Growth Now (ALIGN) Act restores 100% full expensing which allows farmers and business to deduct the full cost of new investments including machinery and equipment.
- The Small Business Investor Tax Parity Act
- This legislation allows Business Development Companies to qualify for the 20% deduction on Qualified Business Income, a benefit that Real Estate Investment Trusts and S-Corporation banks already enjoy under 199A of the Internal Revenue code.
- The ELITE Vehicles Act
- The Eliminating Lavish Incentives to Electric (ELITE) Vehicles Act would end the federal electric vehicle and charging stations tax credit, preventing taxpayer money form subsidizing the purchase of luxury electric vehicles for high-income individuals and corporations.
Your friend and fellow West Texan, |
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Jodey C. Arrington |
Member of Congress |
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