Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) released the following statement on the bicameral conference committee coming to an agreement on a unified Tax Cuts and Jobs Act:
“The House and Senate have agreed to a unified tax plan, and we will deliver it to the President’s desk just in time for Christmas. We have been working toward this for years, and now the American people are closer to a plan that will deliver higher wages, lower taxes, a simpler system, and a stronger American economy.
“We developed a plan that will double the standard deduction and reduce loopholes. At the same time, we kept important deductions for income and property taxes, home mortgage interest, and student loan interest. Our plan also incentivizes research and development and investments to fight rare diseases so America continues to lead the world in innovation. The House will vote on this bill on Tuesday, and after that our country will stand on stronger footing so we can continue to lead for generations to come.”