For Immediate Release:
December 20, 2017
Dr. Robert McClure, President and CEO of The James Madison Institute, issued the following statement in response to today’s passage of the federal tax plan:
“By passing the Tax Cuts and Jobs Act, Congress has kept its promise to the American people to reform the unwieldy federal tax code. For far too long families, entrepreneurs, and working Americans have struggled under the weight of a tax code that has stifled our economy and contributed to the enormous growth in the size and reach of the federal government. Lowering our corporate tax rate will provide a potent shot of energy to our economy, and the positive changes in individual rates and deductions will be felt by working Americans as soon as the withholding tables are adjusted.
“This is a huge victory for tens of millions of middle-income families, and for the economy as a whole. The repeal of Obamacare’s individual mandate will allow millions of Americans to say no to overpriced coverage that doesn’t meet their needs, without fear of being slapped with a penalty from the federal government. We should begin to see better and more affordable options entering the insurance market, and states like Florida should lead the way in providing more robust options that promote choice and flexibility for consumers. JMI commends Congress for allowing every American to celebrate the onset of 2018 with a simpler and fairer tax code that will engender economic prosperity for generations to come.”
As Florida’s premier free-market think tank, The James Madison Institute is a 501c3 nonprofit, nonpartisan research and educational organization.The Institute conducts research on such issues as health care, taxes, and regulatory environments.