Dear Friend,
We had a busy week in Washington. Arguably, two of the most important bills this year were on the floor - The Tax Cuts and Jobs Act and the 3rd Disaster Supplement. Both of these affect our daily lives.
My staff and I have drawn out several of the most important aspects of the tax reform bill. You will see the difference in your paycheck starting in 2018, and you will have more of your hard earned money in your back pocket.
Christmas marks four months since Harvey made landfall. As our communities continue to rebuild, know that I am working tirelessly to get y'all the support you need.
This year has brought some memorable times. As I gather around with my family, know how grateful I am to represent YOU. Each of you make Texas 14 so unique, and together, we are the best district. From my family to yours, Merry CHRISTmas and happy holidays. Cherish this time with family and friends, may it be filled with endless joy.
Sincerely,
Randy K. Weber
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| Tax Reform - an extraordinary opportunity |
This House and Senate embraced the extraordinary opportunity to fix a broken system and relieve the undue burden of costly taxes from so many Americans. In reforming the tax code, we lower taxes for all Americans by reducing every single tax bracket. The standard deduction has nearly doubled for everyone. With lower taxes across the board, businesses, both large and small, will be better able to foster job creation, wage growth, and competitiveness.
What does all of this mean?
-We've lowered the tax brackets for everyone. The new rates are 0%, 10%, 12%, 22%, 24%, 32%, 35%, and 37%. In lowering the tax brackets, you are keeping more of your hard-earned money.
-The Standard Deduction is increased by nearly double. Individuals will go from keeping $6,500 to $13,000, and married couples will go from keeping $12,000 to $24,000.
-This is a pro-family bill. The Child Tax Credit expanded from $1,000 to $2,000. The Child and
Dependent Care Tax Credit and the Adoption Tax Credit are preserved.
-Charitable contributions deductions are preserved.
-We are making good on our promise to reverse the onerous burdens of Obamacare by eliminating the individual mandate penalty tax. This will take effect starting in January 2019. The Individual Mandate is one of the many crippling aspects of Obamacare. 13 million people have been forced to buy something they may not want - the only alternative is paying this heavy tax. If you want to buy health insurance, do. If you don't, don't.This bill does NOT kick people off of insurance; instead, it gives them back the freedom to choose how and where they spend their money.
-The death tax doesn't just affect Wall Street and big industry, many times it affects hard working farmers and ranchers. This bill doubles the amount of the current exemption thus reducing the uncertainty and costs associated with family-owned farms and businesses who decide to pass down their life's work to the next generation. You worked hard for your money.
-Our corporate tax rate is the highest in world creating burdens on American companies. The Tax Cuts and Jobs Act drops the corporate tax rate to 21%, helping businesses both large and small alike.
-We are delivering relief to our Main Street small businesses, who employ so many of our neighbors, by establishing strong safeguards to protect wage income, which will help to ensure that Main Street tax relief goes straight to local job creators.
-Businesses will be able to immediately write off the full cost of new equipment. For years I owned an air conditioning business, this change alone would have been so helpful. Industrial equipment is expensive, and the cost of it sometimes makes a world of difference in the choices small business owners are forced to make.
-We protect the ability of small business owners to write off interest on loans. As your business grows, we want you to expand, hire more workers, and increase paychecks.
-"Made in America" is a great thing to read on labels. It brings about a sense of pride in our work and in our country. We preserve the research and development tax credit that encourages businesses and workers get that "Made in America" tag on the market.
-The tax bill makes it easier for businesses to bring foreign earnings stateside and reinvest them in jobs and paychecks in our local communities.
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| Harvey Happenings |
Hard to believe it's been about 4 months since Harvey came barreling through Texas. The enormity and severity of the storm was unlike anything I've ever seen.The impact was far-reaching, the enormity and severity of the damage unprecedented. My heart goes out to everyone who is dealing with the aftermath and cleanup. I know just how difficult it is – physically, emotionally, and financially.
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Earlier this week, a bipartisan group of Texas and Florida members sat down with Leadership to express our concerns and work on the language of the supplement. |
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This week, a third disaster supplement was introduced. The bill passed the House and is awaiting further action in the Senate. The topline number is $81 billion. As the Senate reviews the bill, the Texas Delegation will continue working with Senators Cornyn and Cruz. Together, we will bring home every penny possible for Texas. We have a long road ahead of us, and we want our great State to come back even stronger than before. Our priority is rebuilding - getting you that roof over your head, a bed in which to sleep, a kitchen in which to cook, and personal transportation in which to get to your job. We're also focused on mitigation for future disasters. Texas is working for you. I am working for you.
After our Texas Florida meeting, I spoke before the House Rules Committee to reiterate the importance of disaster assistance to TX14 and the rest of our great state. Click on the video to hear my statement.
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| Community Legacy |
Eveyln Wright Moore had a compassion for education that was unmatched. She fought fearlessly for the early childhood education and support of our Head Start students in Brazoria County. Last week, she passed away. The news was quite shocking to me and my staff. She and I met many times, both in Brazoria and in Washington, to discuss the needs of her students. I say "her" because she cared for each as though they were her own. Blessings to Mrs. Moore's family, friends, and students this CHRISTmas season...
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