Senator Collins Supports New Republican Tax Bill

December 19th, 2017 | by Super Admin
Senator Collins Supports New Republican Tax Bill
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During Monday’s Senate floor hearing, Senator Susan Collins (R-ME)  showed her explicit support for the new Republican led tax bill. She stated that she firmly believes that the benefits will reach every American

The Senator stated, “I rise to express my support for the conference agreement on the Tax Cuts and Job[s] Act, the first major overhaul of the tax code since 1986. This legislation will provide tax relief to working families, encourage the creation of jobs right here in America, and spur economic growth that will benefit all Americans.”

  • It is really a lot of common sense! The cut in the corporate tax from 35-21% might appear a “tax cut for the rich,” to the economically obtuse. Here are the facts: Five trillion American dollars are currently sitting in offshore accounts. The passage of this legislation will sufficiently motivate them to return the money to the states; to take advantage of the lower corporate tax. Thus, one trillion dollars immediately goes into federal tax coffers! Odds are, the lower corporate tax rate will result in more jobs staying in America, or returning. This will produce even more tax revenue for the treasury. Small business, the greatest creator of jobs will benefit immensely from this initiative. Collins, a moderate Republican, saw the economic advantages with this measure.