SC Oklahoma News

Washington, D.C. - Congressman Tom Cole (OK-04) has expressed his support for the passage of H.R. 7024, the Tax Relief for American Families and Workers Act, in the U.S. House of Representatives. The bill aims to provide $200 billion in tax incentives for job creators and American workers over the next two years, while also introducing $20 billion in enhancements under the child tax credit.

“The U.S. tax code should be written to benefit small businesses, families, and workers, not hurt them,” said Cole. He emphasized the need to give the economy a boost and assist hardworking Americans in keeping more of their earnings. Cole believes that this legislation builds upon the success of the 2017 Tax Cuts and Jobs Act by reinstating and improving existing tax policies to support American workers and job creators. Additionally, it encourages American innovation to help U.S. companies compete against Communist China.

Cole also highlighted the importance of providing support for working families. The bill includes updates and improvements to the Child Tax Credit, making it more flexible and beneficial. Cole expressed his pride in supporting this legislation, which he believes will expand growth and opportunity.

The Tax Relief for American Families and Workers Act has garnered bipartisan support in the House of Representatives and is now poised to move forward in the legislative process. With its focus on providing tax relief, incentives for job creation, and support for working families, this bill represents a significant step towards bolstering the U.S. economy and ensuring the financial well-being of American citizens.