Congressman Greg Walden

Representing the 2nd District of Oregon

Greg Walden statement on passage of the Tax Cuts and Jobs Act

November 16, 2017
Press Release

Greg Walden statement on passage of the Tax Cuts and Jobs Act

WASHINGTON, D.C. -- Rep. Greg Walden (R-Hood River) today released the following statement on the passage of the Tax Cuts and Jobs Act (H.R. 1):

“This is an important step forward to provide a tax code that works better for Oregonians and their families. Our plan will allow Oregon taxpayers to keep more of their hard-earned money and boost critical job growth in our state. This tax reform package will provide much-needed tax relief for individuals, families and small business owners in our district, and make the burdensome process of filing taxes much simpler. 

“It’s long past time for tax reform that respects and rewards hard work, makes everyone play by the same rules, and lets Oregonians keep more of their pay check. The Tax Cuts and Jobs Act will help us reach that goal, and I look forward to its continued improvement as it progresses through the legislative process.”

According to data from the Internal Revenue Service (IRS) and reports from the nonpartisan Tax Foundation, the Tax Cuts and Jobs Act will positively impact Oregon by:

Benefits for Oregon

The Tax Cuts and Jobs Act will:

  • Lead to the creation of an additional 12,358 jobs in Oregon.
  • Raise after-tax income for middle class families in Oregon by $2,602.

Benefits for Oregon's Second District

Increased Child Tax Credit: 50,193 taxpayers in the 2nd District claim the child tax credit. The Tax Cuts and Jobs Act increases the child tax credit from $1,000 per child to $1,600.

Tax Relief for Small Businesses: 50,650 taxpayers in the 2nd District have small business income (a business that the taxpayer operated). The Tax Cuts and Jobs Act reduces taxes for small business owners. First, the bill implements a new, lower 9% tax rate on the first $75,000 of net business income for active small business owners earning less than $150,000 through their business. Second, the bill lowers taxes on small business investment by creating a new 25% small business tax rate.

Simpler Taxes: 104,189 taxpayers in the 2nd District itemize their taxes. As a result of the near doubling of the standard deduction and other simplifications, many taxpayers will have much simpler returns. It is estimated that 9 out of 10 Americans will be able to file their taxes on a postcard.

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