Senator Marshall Endorses Framework for The Tax Relief for American Families and Workers Act
Wichita, KS – U.S. Senator Roger Marshall, M.D, released the following statement announcing his support for the Tax Relief for American Families and Workers Act, a bipartisan, bicameral tax package that will benefit Kansas families, farmers, and small businesses by lowering costs in tough economic times and leveling the playing field.
“I am proud to support the framework for the Tax Relief for American Families and Workers Act which will provide much-needed relief for Kansas families, farmers, manufacturers, and small businesses who are struggling to keep up with skyrocketing inflation and crippling interest rates,” Senator Marshall said. “At a time when the American dream seems out of reach, this tax policy provides much-needed relief to hardworking families and business owners.”
“The Family First legislation enhances the child tax credit, which, in return, will allow more working families to pay for childcare and education expenses by adding in inflation adjustments and increasing the refundable portion of the tax credit. This assistance as outlined in the framework also enforces strong work requirements to help struggling families receive a hand-up, not a hand-out. The proposal also includes expanding the low-income housing tax credit – an issue that I have championed since my time in the House of Representatives – which is a public-private partnership with a proven track record of success,” Senator Marshall continued. “With Main Street businesses also top of mind, this tax framework allows business owners to fully deduct their interest payments, which helps offset the cost of high-interest rates. Businesses will also benefit from expensing major investments in equipment and facilities, as well as being able to immediately deduct the full cost of their research and development, incentivizing new growth.”
“For the past three years, excessive and reckless government spending has taken a significant toll on Kansas families and our local small businesses’ financial stability. This bipartisan legislation will help provide much-needed relief and economic security to Kansans and hardworking Americans nationwide – while being fully paid for and not adding to our national debt,” Senator Marshall said. “I look forward to supporting this legislation that builds upon the successful pro-growth and pro-family tax policies Republicans enacted under the leadership of President Trump.”
More information about the Tax Relief for American Families and Workers Act is available HERE.