Providing Americans Needed Tax Relief
WASHINGTON, D.C.—House Majority Whip Steve Scalise (R-La.) released the following statement after House passage of H.R. 88, the Retirement, Savings, and Other Tax Relief Act:
“With the passage of our Tax Cuts and Jobs Act this time last year, we kicked off huge economic growth across this country. Businesses have finally been able to grow and expand, leading to record job openings and the lowest unemployment since 1969.
“Today, with our vote on the Retirement, Savings, and Other Tax Relief Act, we are building on this success by improving access to retirement savings accounts, implementing reforms to the IRS, and freeing Americans from overly burdensome taxes.
“With so many Americans re-entering the workforce, this legislation helps businesses offer more competitive retirement plans to reward their hardworking team members and allow them to take advantage of this booming economy. Our reforms to the IRS ensure the agency runs more efficiently and smoothly to resolve many of the issues we have seen in recent years so taxpayers are not more strained by this process.
“Further, Americans should not be punished for choosing to purchase more comprehensive, high-cost health insurance. This legislation delays some of the harshest taxes implemented by Obamacare, including the medical device tax, health insurance tax, and Cadillac tax.
“Finally, in a huge win for religious freedom this bill repeals the Johnson Amendment. I have long fought for an end to the religious discrimination the Johnson Amendment has caused and am proud to see it coming closer to full repeal.”
Background on Retirement, Savings, and Other Tax Relief Act:
- Helps businesses provide retirement plans to their workers and helps families to start saving earlier and more throughout their lives. Amendment includes provision expanding use of 529 accounts
- Modernizes the IRS and makes taxpayer service the focus of the agency by improving the ease and efficiency of the taxpayer experience when filing taxes, retrieving information, resolving issues, and making payments
- 5-year delay of medical device tax
- 2-year delay of health insurance tax
- 1-year delay of the excise tax on high cost health plans
- Repeal of the tanning tax
- Repeal of the church parking tax
- Provision to allow tax-exempt charitable and educational organizations to make collegiate housing and infrastructure grants to specified tax-exempt social clubs, such as fraternities and sororities, in order to fund college and university housing
- Free Speech Fairness Act (repeal of the Johnson Amendment)