Americans for Tax Reform today led a coalition of 58 conservative groups and activists in support of the Tax Reform 2.0 legislation set to be voted on by the House of Representatives later this week.
This proposal is split into three pieces of legislation: H.R. 6760, the Protecting Family and Small Business Tax Cuts Act, H.R. 6757, the Family Savings Act, and H.R. 6756, the American Innovation Act.
Most importantly, Tax Reform 2.0 strengths the gains made by the Tax Cuts and Jobs Act last year by making individual and small business tax cuts permanent. This tax reduction could not be made permanent when TCJA passed because of a combination of liberal obstructionism, arcane Senate rules, and an unwillingness to reduce out-of-control federal spending.
The legislation also updates retirement, education, and family savings accounts and promotes innovation and entrepreneurship for small businesses.
The full letter can be found here and is below.
Dear Speaker Ryan and Chairman Brady:
On behalf of the undersigned organizations, we write in support of House passage of Tax Reform 2.0.
This proposal is split into three pieces of legislation: H.R. 6760, the Protecting Family and Small Business Tax Cuts Act, H.R. 6757, the Family Savings Act, and H.R. 6756, the American Innovation Act.
The House should pass all of these bills.
The Tax Cuts and Jobs Act (TCJA) passed last year reduced taxes for Americans at every income level, raised wages and other employee benefits, boosted economic growth, and made the U.S. a more competitive place to do business.
Unfortunately, not all of the tax reduction in TCJA could be made permanent because of liberal obstructionism, arcane Senate rules, and an unwillingness to reduce out-of-control federal spending. Due to these constraints, lawmakers were forced to sunset the individual tax provisions starting in 2026.
The Protecting Family and Small Business Tax Cuts Act will address this by making individual and small business tax cuts permanent.
Because of TCJA, 90 percent of wage earners are seeing higher take-home pay. This year, a family of four with annual income of $73,000 will see a tax cut of $2,058—a 58 percent reduction in federal taxes.
Americans are seeing a simpler, fairer tax code due to the doubling of the standard deduction, the reduction in the Alternative Minimum Tax, and the reduction in the death tax.
Small businesses also see tax relief through the creation of a 20 percent deduction for businesses organized as pass-through entities.
In addition to making these provisions permanent, Tax Reform 2.0 builds on the success of TCJA and further improves the tax code.
The Family Savings Act strengthens tax-advantaged savings accounts so that Americans have more money for retirement, education, and other expenses. The legislation updates retirement accounts so that businesses have more flexibility to set up and contribute to plans and workers have more flexibility to invest and save for retirement.
The bill also creates new, universal savings accounts which allow families to save and invest $2,500 of their own after-tax earnings. 529 education savings accounts are expanded so that families can use these funds on apprenticeship programs and to cover home schooling expenses.
The American Innovation Act encourages innovation and entrepreneurship. The legislation allows businesses to recover more start-up expenses and also allows start-ups that bring in new investors to retain access to important tax benefits like the Research & Development tax credit.
Since it was signed into law, TCJA has reduced taxes for businesses and families, increased take-home pay, and spurred American innovation and competitiveness.
Tax Reform 2.0 will build on this success by making individual and small business tax cuts permanent, expanding tax-advantaged savings accounts, and allowing businesses to recover more start-up costs.
We therefore urge prompt floor passage of the Tax Reform 2.0 package and encourage all members of Congress to support the legislation.
Sincerely,
Grover Norquist President, Americans for Tax Reform
James L. Martin Founder/Chairman, 60 Plus Association
Saulius “Saul” Anuzis President, 60 Plus Association
Phil Kerpen President, American Commitment
Matt Schlapp Chairman, American Conservative Union
Steve Pociask President, American Consumer Institute
Lisa B. Nelson CEO, ALEC Action
Tom Giovanetti President, Americans for a Strong Economy
Dan Weber Founder & President, Association of Mature American Citizens
Norm Singleton President, Campaign For Liberty
Ryan Ellis President, Center for a Free Economy
Andrew F. Quinlan President, Center for Freedom and Prosperity
Jeffrey Mazzella President, Center for Individual Freedom
Olivia Grady Senior Fellow, Center for Worker Freedom
Chuck Muth President, Citizen Outreach (Nevada)
Matthew Kandrach President, Consumer Action for a Strong Economy
Tom Schatz President, Council for Citizens Against Government Waste
Iain Murray Vice President for Strategy & Senior Fellow, Competitive Enterprise Institute
Katie McAuliffe Executive Director, Digital Liberty
Palmer Schoening President, Family Business Coalition
Richard Watson Chairman, Florida Center Right Coalition
Adam Brandon President, FreedomWorks
George Landrith President, Frontiers of Freedom
Victor Riches President & CEO, Goldwater Institute (Arizona)
Ray Chadwick Chairman, Granite State Taxpayers (New Hampshire)
Daniel Perrin Executive Director, HSA Coalition
Tim Chapman Executive Director, Heritage Action for America
Rodolfo E. Milani Trustee, Hispanic American Center for Economic Research
Mario H. Lopez President, Hispanic Leadership Fund
Carrie Lukas President, Independent Women’s Forum
Heather R. Higgins CEO, Independent Women’s Voice
Andrew Langer President, Institute for Liberty
Sal J. Nuzzo Vice President of Policy, The James Madison Institute (Florida)
John Dodd President, Jesse Helms Center (North Carolina)
Dave Trabert President, Kansas Policy Institute
Seton Motley President, Less Government
Mary Adams Chair, Maine Center-right Coalition Meeting
Jameson Taylor, Ph.D. Vice President for Policy, Mississippi Center for Public Policy
Tim Jones Former Speaker, Missouri House of Representatives Leader, Missouri Center-Right Coalition
Pete Sepp President, National Taxpayers Union
The Honorable William O’Brien Former Speaker, New Hampshire House of Representatives Co-Chair, New Hampshire Center-Right Meeting
The Honorable Stephen Stepanek Former Chairman, Hew Hampshire House Ways & Means Committee Co-Chair, New Hampshire Center-right Meeting
Jack Boyle Executive Director, Ohioans for Tax Reform
LaVerne Jones Gore Chairman, The Ohio Diversity Coalition
Jeff Kropf Executive Director, Oregon Capitol Watch
Josh Crawford Co-Executive Director, Pegasus Institute (Kentucky)
Jordan Harris Co-Executive Director, Pegasus Institute (Kentucky)
Daniel Erspamer CEO, Pelican Institute for Public Policy (Louisiana)
Lorenzo Montanari Executive Director, Property Rights Alliance
Derrick Hollie President, Reaching America
Mike Stenhouse CEO, Rhode Island Center for Freedom and Prosperity
Paul Gessing President, Rio Grande Foundation (New Mexico)
Karen Kerrigan President & CEO, Small Business & Entrepreneurship Council
Niraj J. Antani State Representative, Ohio House of Representatives Chair, Ohio Center-right Meeting
David Williams President, Taxpayers Protection Alliance
Judson Philips President, Tea Party Nation
Tom Zawistowski President, We the People Convention
Amy Kremer Chairman, Women for Trump