Congressman Mike Bost Celebrates Tax Reform Passage

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Bost Votes For Tax Reform  Washington, DC – U.S. Representative Mike Bost (IL-12) released the following statement after the House passed the final version of the Tax Cuts and Jobs Act, the biggest reform of America’s tax code in 31 years: “There were two major things that I wanted to accomplish for Southern Illinois through tax reform: growing jobs and growing paychecks. This tax reform bill paves the way for both. We’ve reformed the tax code to let working families keep more of their paycheck to spend as they see fit. Whether that be saving for college, raising a family, or preparing for a rainy day, I trust the taxpayers to keep a closer eye on their hard-earned dollars than any Washington bureaucrat ever will. We’ve also taken steps to encourage businesses large and small to expand operations at home and invest in the American worker.” For individuals and families, the Tax Cuts and Jobs Act: Lowers individual taxes and sets the rates so people can keep more of their hard-earned money. Doubles the standard deduction from $6,500 to $13,000 for individuals and $12,000 to $24,000 for married couples. Continues to allow people to write off the cost of state and local taxes – up to $10,000. Doubles the Child Tax Credit from $1,000 to $2,000. Provides support for graduate students by continuing to exempt the value of reduced tuition from taxes. Retains popular retirement savings options such as 401(k)s and Individual Retirement Accounts (IRAs). Preserves the mortgage interest deduction. Provides relief for Americans with expensive medical bills by expanding the medical expense deduction. For job creators of all sizes, the Tax Cuts and Jobs Act: Lowers the corporate tax rate to 21%– down from 35%, which today is the highest in the industrialized world. Allows businesses to immediately write off the full cost of new equipment to improve operations and enhance the skills of their workers. Establishes strong safeguards to distinguish between individual wage income and “pass-through” business income so Main Street tax relief goes to the local job creators it was designed to help most. Prevents American jobs, headquarters, and research from moving overseas by eliminating incentives that now reward companies for shifting jobs, profits, and manufacturing plants abroad.

Congressman Mike Bost: What House Tax Reform Bill Will Do

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The Bost Bulletin This was a big week for American taxpayers. I voted with my colleagues in the House to pass the Tax Cuts and Jobs Act because Southern Illinois’ hardworking middle-class families deserve a break. We need more jobs, higher take-home pay, and greater opportunity to get ahead. The Tax Cuts and Jobs Act is focused on empowering middle-class working families by delivering more jobs, fairer taxes, and bigger take-home pay.  I’ve worked hours going line by line through this legislation to make sure it'll work for Southern Illinois families. For the 78% of tax filers in Illinois’ 12th Congressional District who currently take the standard deduction, you will see an average $1700 more in your pocket after taxes. The Tax Cuts and Jobs Act gives you the breathing room you need to save for college, help raise a family, or prepare for a rainy day. When given the chance, I have no doubt you’ll keep a closer eye on your hard-earned dollars than any Washington bureaucrat ever will. The debate now moves to the U.S Senate and I expect them to implement the reforms taxpayers deserve. The numbers can be dry, but the vision for tax reform is straightforward. We are going for growth, simplicity, and fairness. For individuals and families, the Tax Cuts and Jobs Act: Lowers individual tax rates for low- and middle-income Americans to Zero, 12%, 25%, and 35% so people can keep more of the money they earn throughout their lives, and continues to maintain 39.6% for high-income Americans. Significantly increases the standard deduction to protect roughly double the amount of what you earn each year from taxes – from $6,350 to $12,000 for individuals and $12,700 to $24,000 for married couples. Eliminates special-interest tax breaks that increase rates and complicate Americans’ taxes – so an individual or family can file their taxes on a form as simple as a postcard. Takes action to support more American families by: Establishing a new Family Credit – which includes expanding the Child Tax Credit from $1,000 to $1,600 to help parents with the cost of raising children, and providing a credit of $300 for each parent and non-child dependent to help all families with their everyday expenses. Preserving the Child and Dependent Care Tax Credit to help families care for their children and older dependents such as a disabled grandparent who may need additional support. Preserving the Adoption Tax Credit so parents continue to receive additional tax relief as they open their hearts and their homes to an adopted child. Streamlines higher education benefits to help families save for and better afford college tuition and other education expenses. Continues the deduction for charitable contributions for Americans who donate so people can continue to donate to their local church, charity, or community organization. Preserves the home mortgage interest deduction for existing mortgages and maintains the home mortgage interest deduction for newly purchased homes up to $500,000 – providing tax relief to current and aspiring homeowners. Continues to allow people to write off the cost of state and local property taxes up to $10,000. Retains popular retirement savings options such as 401(k)s and Individual Retirement Accounts so Americans can continue to save for their future. Provides immediate relief from the Death Tax by doubling the exemption and repealing the Death Tax after seven years. Family-owned farms and businesses will no longer have to worry about double or triple taxation from Washington when they pass down their life’s work to the next generation.  For job creators of all sizes, the Tax Cuts and Jobs Act: Lowers the corporate tax rate to 20% – down from 35%, which today is the highest in the industrialized world – the largest reduction in the U.S. corporate tax rate in our nation’s history. Reduces the tax rate on the hard-earned business income of Main Street job creators to no more than 25% – the lowest tax rate on small business income since World War II. Establishes strong safeguards to distinguish between individual wage income and pass-through business income so Main Street tax relief goes to the local job creators it was designed to help most. Protects the ability of small businesses to write off the interest on loans that help these Main Street entrepreneurs start or expand a business, hire workers, and increase paychecks. Retains the low-income housing tax credit that encourages businesses to invest in affordable housing so families, individuals, and seniors can find a safe and comfortable place to call home. Preserves the Research & Development Tax Credit – encouraging our businesses and workers to develop cutting-edge “Made in America” products and services. Strengthens accountability rules for tax-exempt organizations to ensure that churches, charities, foundations, and other organizations receiving tax-exempt status are focused on helping people and communities in need. Prevents American jobs, headquarters, and research from moving overseas by eliminating incentives that now reward companies for shifting jobs, profits, and manufacturing plants abroad.

Mike Bost: True Citizen-Legislator Speaking for the People

For the past two weeks, I was following the legislative fallout in Illinois.

Believe it or not, the Land of Lincoln is in worse economic shape than California. The Republican Governor has repeatedly blocked and vetoed tax and spending increases. In fact, he outlined clear guidelines for future budget bills:

1. Cap on property taxes.
2. Pension reforms
3. Redistricting Commission
4. Term Limits

The Democratic Party has controlled the Illinois legislature for decades, apart from a two year stint when Republicans across the country took over state legislatures.

In Illinois, the pension and budget issues have grown so out of control, that they can't make payroll. Private vendors have been waiting six months to get paid.  Instead of fixing the problems, the Speaker of the General Assembly Michael Madigan gets away with gutting and amending large pieces of legislation, then pushes these  massive bills onto the floor with little time for review from the fellow members.

Before Rauner became governor to stop the insanity, conservative Republican Mike Bost took on Springfield, Illinois corruption like a boss!

Here is Assemblyman Mike Bost's response to this corrupt, anti-democratic process:

Here's another view if you missed any of his comments:

Illinois was the last state to comply with the Second Amendment rulings on concealed-carry permits. A federal court forced the state legislature to pass legislation to allow individual citizens to get permits.

Once again, the Speaker of the General Assembly changed the bill substantially from what he and other colleagues has voted for.:

Now this is the kind of fight we need to see from our representatives.

We don't need men and women in state legislatures playing nice.

Notice that Bost had no problem shouting at the rude assemblymembers in the majority, especially when they attacked his character and his intellect on Second Amendment issues.

This is the kind of representation we need in our state legislatures. We need men and women who will fight for our rights, and fr what is right.

We need legislators, citizen representatives who do not worry about making people unhappy or offending people who are doing wrong at taxpayers' expense.