More on Tax Reform
For the first time since 2000, there are more job openings than there are people looking for jobs. Across the Third District, Iowans are seeing bigger paychecks as a result of tax relief signed into law last year. Nationally, 90 percent of workers are taking home more money than they were before the Tax Cuts and Jobs Act was signed into law.
This past week was National Small Business Week and I visited small businesses across the Third District. I spoke with small business owners, employees, and community leaders seeing the benefits of tax relief firsthand. From bonuses to wage increases to business expansion, Iowa communities are feeling positive effects of Iowans keeping more of their hard-earned dollars.
I started off the week in Urbandale at a round table with a combination of business owners and employees who are members of the Urbandale Chamber of Commerce.
The U.S. House of Representatives passed Congressman Young's IRS Fair Appeals Saving Taxpayers (FAST) Act as a part of the Taxpayer First Act by a vote of 414-0 today.
Iowa Congressman David Young's legislation the IRS Fair Appeals Saving Taxpayers (FAST) Act was added to H.R. 5444, the Taxpayer First Act, and debated on the House floor today. A final vote is expected Wednesday evening.
The IRS FAST Act will level the playing field for taxpayers and allow them access to their own information by requiring the IRS to turn over all non-privileged documents to an individual or business if the taxpayer appeals the IRS's determination decision. This is part of a larger push to shift the burden of proof back onto the IRS when examining taxpayers.
Time goes by quickly, months have passed since the New Year has come in and it’s already Spring. As I travel around the Third District, folks share with me how they and their families are benefiting from the new tax relief law, how their businesses - small and large - are feeling freer from burdensome regulations, and how they are feeling optimistic about the future.
On March 23, 2018, President Trump signed legislation funding the government until the end of the fiscal year. The bill was not perfect and the process was not ideal. However, Iowans didn’t send me to Congress to complain about the process – they sent me to Congress to work to make it better where I can. They sent me to make sure our policies and programs help Iowans.
Iowa Congressman David Young introduced the IRS Fair Appeals Saving Taxpayers (FAST) Act (H.R.
A long sought fix to Section 199A of the tax code, often referred to as the "grain glitch," was included in text of the omnibus spending package introduced in the U.S. House of Representatives today.
As published in The Des Moines Register on March 15:
Our economy is headed in the right direction. In 2017’s last quarter, the economy grew at 2.5 percent. Private-sector jobs defied expectations and grew by 313,000 in February. The national unemployment rate of 4.1 percent is at a 17-year low. Consumer confidence is the highest since 2000 and wages are up 2.6 percent compared with a year ago.
Iowa Congressman David Young today pressed Treasury Secretary Steven Mnuchin on the administration's proposed tariffs on steel and aluminum during a Financial Services and General Government Appropriations Subcommittee Hearing.