Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) appeared on Fox & Friends to discuss the rollout of the Tax Cuts and Jobs Act in the House and how it will help cut taxes for hardworking Americans.
Excerpts of the interview are below, or watch online here.
On lower rates for individuals and families:
“We’re cutting taxes. We’re not raising rates. We’re lowering the rates. And think about this: we treat every American fairly, right? So if you’re a single American today, in the old system, you can only make the first of $6,000 tax-free. We double that to $12,000. A family? $24,000 tax-free—doubling to start out. You decide where your money should be spent, not government.”
On how this bill provides unprecedented simplicity and fairness:
“What you have to do is take your tax bill entirely. You won’t have to spend weeks on this. You can spend minutes because you’ll be able to fill it out on a postcard. And you’ll find that at the end of the day, you keep more of your own money, and I think that’s really what America’s looking for.”
On how job creators of all sizes will benefit from this plan:
“Look what we do for small business. And you know small business creates more jobs than anything else. We lower the rate to 25%, the lowest it has been in 40 years…. You want to be competitive. And think of all of those trillions of dollars that the current tax code system will punish you if you bring it back to America. Now they’re going to bring it back to America and you know what? Invest in American jobs.