More on Taxes
Congressman Andy Barr (KY-06) today voted for the Bipartisan Budget Agreement, which included a permanent repeal of the excise tax on endowment income for colleges and universities with fewer than 500 tuition-paying students. The provision exempts Berea College from the tax because the Kentucky work-study school does not charge tuition.
Congressman Andy Barr (KY-06) today voted in favor of the conference report to H.R. 1, the Tax Cuts and Jobs Act, the most significant rewrite of the Internal Revenue Code in more than 31 years. The legislation will lower tax rates on individuals and businesses and simplify the code so that most households can file their taxes on a simple postcard.
Congressman Andy Barr (KY-06) today voted in favor of H.R. 1, the Tax Cuts and Jobs Act, the first comprehensive tax reform legislation to pass the House of Representatives since the Tax Reform Act of 1986.
Americans have been waiting for years for Washington to fix our broken tax code because they know it will lead to better jobs, more take-home pay, and a stronger economy.
The Tax Cuts and Jobs Act is our answer to the American people. It will deliver much-needed tax relief to millions of families, help our workers and job creators compete and win here at home and around the world, and make the tax code simpler and fairer for all Americans. It will fuel economic growth – leading to more jobs, fairer taxes, and bigger paychecks.
Congressman Andy Barr (KY-06) made the following statement applauding the release of a unified framework for tax reform:
“The unified framework for tax reform released today is consistent with our promise to create a fairer, simpler tax code that will boost American jobs and allow working families and individuals to keep more of their hard-earned paychecks. By doubling the standard deduction, enhancing the child tax credit, and promoting American competitiveness to keep jobs from going overseas, this plan is focused on the middle-income families that need relief.”
Congressman Andy Barr (KY-06) today met with Chairman Kevin Brady (TX-08) of the House Ways and Means Committee, UPS employees and Kentucky business leaders, including business leaders in the Sixth District, to discuss pro-growth tax reform at the UPS Worldport in Louisville, Kentucky.
It has been 31 years since the last tax overhaul by President Ronald Reagan. Today, Congress is working to create a simpler, fairer tax code that lowers rates for all Americans and makes U.S. businesses and corporations more competitive.
Congressman Andy Barr (KY-06), the Chairman of the Congressional Horse Caucus, today introduced three bills that would make simple reforms to the tax code to encourage greater investment and participation in Kentucky’s signature horse industry. These reforms are needed to reflect the realities faced by participants in the horse industry and to provide a level playing field between equine investments and other forms of investments.
Congressman Andy Barr (KY-06) spoke on the floor of the U.S. House of Representatives about the American Health Care Act.
Remarks as delivered:
Obamacare is collapsing. It’s hurting more people than it’s helping. It’s forcing Americans to buy insurance they don’t like, they don’t need, and cannot afford. Premiums have increased by an average of 25 percent this year, deductibles are skyrocketing.
U.S. Senate Majority Leader Mitch McConnell (R-KY), Senator Rand Paul (R-KY) and Congressman Andy Barr (KY-06) reintroduced legislation today which corrects a provision in the tax code to ensure that Kentucky’s Bourbon producers are no longer at a disadvantage with their global competitors.
Congressman Andy Barr (KY-6) reintroduced two bills to provide relief and prevent a looming tax increase on Kentucky’s signature horse industry. H.R. 3671, the Race Horse Cost Recovery Act, would make permanent the three-year depreciation schedule for all race horses which is subject to expire at the end of this year. H.R. 3672, the Equine Tax Parity Act, would eliminate a 45-year-old tax provision that discourages investment in the equine industry and discriminates against equine assets compared to other assets.