Late last year, Peter Roskam helped write and pass the largest reform of the federal tax system in a generation, the Tax Cuts and Jobs Act. At the core of this reform is Peter’s belief that you know best how to spend your hard-earned money — not Washington.
Contrary to the misinformation put out by opponents of tax reform, the new law delivered a tax cut to the average family in every income bracket.
The numbers are astounding. A family of four making the median income for the Sixth District and taking the standard deduction this year saw an average tax cut of $4,673. Those savings are substantial as middle-class families pay their bills and put away money for their kids’ future.
Additionally, many employers in the Sixth District and across the country have announced significant bonuses to their employees and a raise in wages, all thanks to the tax reform.
The reform has also had a great impact for job seekers. According to the non-partisan Tax Foundation, 14,097 jobs will be added in Illinois thanks to tax reform. Companies are bringing jobs home and hiring in record numbers.
By every measure, Illinois families and small businesses are seeing significant benefits from Peter’s major tax reform.
Peter is focused on building on the success of the Tax Cuts and Jobs Act, working to further unleash the engine of the economy and grow opportunities for all residents of the Sixth District.