President Trump Wednesday introduced a comprehensive tax reform package that Third District Congressman Adrian Smith of Gering feels provides a good framework for Congress to work with.
Smith’s particularly likes the doubling of the standard deduction, which will allow more Americans to file a simple tax return that eliminates costs and the possibility of fraud.
The Administration’s proposal also significantly increases the child tax credit, reduces the seven tax brackets to three, also repeals the death tax and significantly, and reduces the tax rate for small businesses and the corporate tax rate.
Some are criticizing the plan for steps to help the wealthy, but Smith says “across the board tax relief is the best way to grow the economy.”
Smith, a member of the House Ways and Means Committee that has been working on tax reform for some time, says the plan helps the middle class more than anyone else.