House Passes Family Savings Act
(Source: House Ways and Means Committee)
Today, House Ways and Means Committee Chairman Kevin Brady (R-TX) released the following statement after the House passed the American Innovation Act and the Family Savings Act, two of the three bills that make up Tax Reform 2.0:
“House Republicans showed the American people today that we’re committed to changing the culture in Washington where we used to do tax reform only once a generation. These two bills ensure American families have the resources they need to save more and earlier and give future entrepreneurs the tools to move from the kitchen table to Main Street and beyond. Tax Policy Chairman Vern Buchanan and Rep. Mike Kelly led the charge on these efforts, and this legislation is going to make a real difference for families, new businesses, and communities across the country. I also look forward to our vote tomorrow on the final component of Tax Reform 2.0, when we will get the chance to permanently lock in tax relief for our workers and small businesses.”
The American Innovation Act was approved by a vote of 260 – 156, including the support of 229 Republicans and 31 Democrats.
The Family Savings Act was approved by a vote of 240 – 177, including the support of 230 Republicans and 10 Democrats.