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December 23, 2017
Greetings,
This week, Congress passed historic and meaningful tax reform. This bill provides significant relief for working men and women, and job creators. For middle class families across Texas and the country, Christmas has come early.
These tax cuts champion small business owners, job creators, and farmers and ranchers by taking our high corporate tax rate – the highest in the developed world – and bringing it back down to a level that will generate jobs here at home and unleash the American economy by bringing roughly $2.9 trillion in capitol back to our economy. That is why it was no surprise that within 24 hours of Congress passing the tax bill, several major American companies, including Texas’ own AT&T, announced bonuses and pay raises for their employees, as well as further investments into their communities.
These tax cuts will benefit people from all walks of life by nearly doubling the standard deduction and cutting rates for individual taxpayers in all brackets, ensuring that Americans in every tax bracket will see their take home pay go up and their taxes go down. And Texas taxpayers will be able to write off up to $10,000 in their property taxes, a measure I fought to maintain.
This historic tax reform bill will be a boon to working families across the country by doubling the child tax credit – from $1,000 a child, to $2,000 a child – and by the inclusion of my Student Opportunity Amendment in the final bill, an amendment which expands 529 College Savings Plans by allowing parents to now save up to $10K per year per child to use for K-12 education expenses in public, private, and religious schools.
And by repealing Obamacare’s individual mandate, this tax reform bill ensures that the 6.5 million Americans who have been unfairly fined by the IRS for not being able to afford health insurance will now have immediate and significant relief.
This legislation was a significant step in fulfilling the promise we made to the American people to give them real, fundamental tax relief, and I was proud to fight to ensure that it came to pass.
My Senate office also continues to work to ensure swift and effective service to Texans and Texas communities in need of federal assistance following the storm. If you need additional information or assistance during the recovery and rebuilding process, please do not hesitate to contact my office or utilize the federal and state resources listed here.
Please read below for an update from this last week.
Keep Texas Strong,
Ted Cruz
Sen Cruz: The Love and Kindness of Texans Helping Texans Shines Bright This Christmas
Sen. Cruz issued the following statement in advance of Christmas Day. Read more...
VIDEO: Five Cruz Laws in 2017
Sen. Cruz released the following video highlighting his five pieces of legislation signed into law by President Trump in 2017. Read more...
ICYMI: Sen. Cruz Op-Ed in The Corpus Christi Caller Times: D.C.’s Role in the Texas Recovery
Sen. Cruz on Thursday penned an op-ed for the Corpus Christi Caller Times outlining Congress’ support for Texas’ recovery in the aftermath of Hurricane Harvey, including the Cruz-Cornyn-Rubio tax relief bill, which provides additional tax deductions and waives penalties for withdrawals from tax-advantaged accounts for those in storm affected areas, allowing storm victims to keep more of their money as they work to rebuild. Read more...
Sen. Cruz: Congress Must Ensure the Promises Made to Texas Are Fulfilled and Resources Are There to Help Our State Rebuild
Sen. Cruz on Thursday delivered remarks on the Senate floor urging his colleagues to deliver on storm funding for victims of Hurricane Harvey. Read more...
Sen. Cruz: This Tax Reform Bill is a Victory for Middle Class Families Across Texas and the Country
Sen. Cruz on Wednesday issued the following statement after voting in favor of Congress’ final tax reform bill. Read more...
ICYMI: Sen. Cruz: Congress’ Tax Reform Bill is a Major Victory for Working Men and Women and American Families
Sen. Cruz on Wednesday appeared on Fox News’ ‘Fox and Friends,’ and KTSA’s ‘The Morning Edge With Trey Ware’ to discuss key victories for American taxpayers in Congress’ final tax reform bill. Read more...
ICYMI: Sen. Cruz Op-Ed in The Dallas Morning News: Tax Reform Will Benefit Texans In More Ways Than One
Sen. Cruz on Wednesday penned an op-ed for the Dallas Morning News outlining victories for Texas jobs, Texas wages, and Texas family budgets in Congress’ recently passed historic tax reform bill. Read more...
ICYMI: Sen. Cruz: The Victory of Tax Reform Will Be in the Pay Stubs of Working Men and Women
Sen. Cruz on Thursday appeared on several national and local Texas radio shows to discuss key victories for Texas and American taxpayers in Congress’ final tax reform bill, including his Student Opportunity Amendment. Read more...
Sen. Cruz: American Strength and Confidence Are the Best Means for Deterring War and Promoting Peace
Sen. Cruz on Tuesday issued the following statement regarding President Trump’s announced National Security Strategy. Read more...
Sen. Cruz Commends President Trump and Ambassador Haley’s Defense of U.S. Sovereignty, Decision to Recognize Jerusalem as Israel’s Capital at the U.N.
Sen. Cruz on Tuesday issued the following statement commending President Trump and United Nations’ Ambassador Nikki Haley for vetoing a U.N. Security Council resolution condemning the United States’ recognition of Jerusalem as Israel’s capital. Read more...
Sen. Cruz Urges Colleagues to Ensure Homeschooling Families Are Included in the Student Opportunity Amendment
Sen. Cruz on Wednesday delivered remarks on the Senate floor urging his colleagues to ensure his Student Opportunity Amendment extends its tax-free savings benefits to homeschooling families. Read more...
Cruz, Cornyn Praise Confirmation of Ryan Patrick for U.S. Attorney in Houston
Sens. Cruz and John Cornyn (R-Texas) on Thursday released the following statements after the Senate confirmed Ryan Patrick as U.S. Attorney for the Southern District of Texas. Read more...
The full press releases may be viewed here.
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