The House Ways and Means Committee passed Thursday afternoon the GOP tax bill, the Tax Cuts and Jobs Act, just as the Senate was about to unveil its tax plan.
"This legislation will reduce tax rates for Americans of all income levels so hardworking families can keep more of what they earn – that includes middle-income families in every Ways and Means Member's district," said House Ways and Means Committee Chairman Kevin Brady, R-Texas, in a statment after the vote.
House Speaker Paul Ryan, R-Wis., said in another statement that "Today, we took yet another critical step toward delivering real relief to the American people. I want to thank Chairman Brady and the Ways and Means Committee for making important improvements to this historic legislation."
The committee, Ryan said, "preserved the adoption tax credit for middle-income families, and increased targeted relief for Main Street small businesses and startups."
The bill, he continued, "will cut taxes for a typical household by $1,182, raise take-home pay by upwards of $4,000, and create nearly 1 million full-time jobs. It is exactly the type of tax cut and job growth our country needs to get back on track."
"Robust debate" will now ensue on the House floor.
Ryan said earlier in the day during his daily press conference that "We are going to conference" with the tax bills. "The House will pass its bill and the Senate will pass its bill and then we will get together in conference."
Brady added that the House looks forward to working with the Senate "to deliver a unified bill to President Trump this year."
House Ways and Means Committee Chairman Kevin Brady, R-Texas, offered on Thursday his second amendment to the House GOP bill, the Tax Cuts and Jobs Act.
