GOP Unveils Tax Bill

The Tax Cuts and Jobs Act is unveiled by House Republicans.  

Their long-awaited tax bill promises to help middle class Americans as well as businesses. They also say their bill will simplify the tax code. Woodlands Congressman Kevin Brady chairs the House Ways & Means Committee and is one of the primary authors of the bill:

"We're not going to be the doormat any longer. We're not going to stand still for thirty years as they leave us in the dust. We're going to compete and we're going to win and our jobs and paychecks for middle families are going to grow... This is it America, this is our opportunity to make tax reform a reality and deliver the most transformational tax cuts in a generation... That's your money, you earned it. You deserve to keep it... and you should be able to use it for whatever you want."

House Majority Leader Kevin McCarthy said a middle-income family of four would get a tax cut of nearly 12-hundred dollars a year.  

Democrats on the other hand, are slamming the plan as a big boon for the wealthy.  Minority Leader Nancy Pelosi said it will hurt people on Medicare and Medicaid.  

A similar bill is expected to be introduced in the Senate soon.  

The White House hopes to have tax reform passed by Christmas.

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