Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) released the following statement on House passage of H.R. 2029, the Protecting Americans from Tax Hikes (PATH) Act:
“The end of each year is traditionally met with anticipation for a new year ahead. But when it comes to planning, ad hoc tax policies have made it more difficult for individuals and businesses to prepare for the year ahead and make next year better than the last.
“This uncertainty is not only stressful, but it also prevents us from doing what we do best—investing in people to create opportunity and earn success. If people don’t actually know how much they will have to pay in taxes, they hold off spending their hard-earned money to improve their lives or grow their businesses. To give people stability and certainty on tax rates, the House passed a bill to make many temporary tax provisions permanent and extend others for several more years. The bill also increases taxpayer protections to prevent the IRS from targeting Americans based on their political beliefs. Our tax system should be certain, simple, and, above all, fair.”