Published Ahead of Committee Markup to Cut Taxes for Working Families, Seniors, Farmers and Small Businesses
WASHINGTON — Today, Congressman Vern Buchanan, Vice Chairman of the House Ways and Means Committee, penned an op-ed in the Sarasota Herald Tribune calling on Congress to pass the Republican tax package to prevent a massive tax hike on Florida families and small businesses.
“Key provisions of the 2017 Trump tax cuts are set to expire at the end of this year,” writes Buchanan in the op-ed. “If we do nothing, taxes will go up for millions of working families and small businesses across the country, including right here in Florida. Now is the time to stand up for hardworking Americans, not punish them with higher taxes.”
Later today, the House Ways and Means Committee will markup the historic tax legislation within “One Big, Beautiful Bill” to make the 2017 Tax Cuts and Jobs Act tax cuts permanent and provide additional relief to working families, seniors, farmers and small businesses.
Read the full op-ed here or below.
Florida Can’t Afford a Tax Hike
Florida families and small businesses spent the past four years struggling with soaring costs under President Biden’s failed economic policies. From the grocery store to the gas pump, “Bidenflation” made it harder than ever for working Americans to make ends meet. As Floridians begin to recover from the disastrous Biden administration, the last thing they need is a massive tax hike—but that’s exactly what will happen if Congress doesn’t act. That’s why Republicans are working to extend the Trump tax cuts and ensure all Americans get the relief they deserve.
The 2017 Tax Cuts and Jobs Act signed into law by President Trump was one of the most consequential pro-growth and pro-family reforms in a generation. Within just two years, it helped create nearly 5 million new jobs, pushed unemployment to its lowest level ever for African American and Hispanic workers and delivered the fastest wage growth in a decade. It also provided historic tax relief for working- and middle-class families—ensuring that a family of four making $67,000 or less paid no federal income tax at all.
Key provisions of the 2017 Trump tax cuts are set to expire at the end of this year. If we do nothing, taxes will go up for millions of working families and small businesses across the country, including right here in Florida. Now is the time to stand up for hardworking Americans, not punish them with higher taxes.
If the Trump tax cuts expire, the impact on families in Hillsborough and Manatee Counties will be severe. The average taxpayer in my district will face a 22 percent tax hike, while a median-income family of four earning $83,386 will see their federal tax bill rise by $1,778. In addition, 72,630 Hillsborough and Manatee families will lose half of their household’s child tax credit. Families will suffer as their taxes rise and their opportunities dry up.
We cannot allow that to happen. Republicans delivered results in 2017, and we must do it again now.
That’s why I’m proud to support the Republican tax package before Congress that extends and expands the 2017 Trump tax cuts. Republicans are prioritizing letting Americans keep more of their hard-earned money by maintaining the doubled standard deduction and keeping the doubled child tax credit. The package locks-in pro-family tax cuts that will lead to more jobs, higher wages and stronger communities.
Republicans are fighting for a package that will support the 3 million small businesses in Florida. Our tax package will fuel Florida’s economic engine, creating new opportunities for the millions of manufacturers and small businesses that call Florida home. Our plan stands up for the 96,470 small businesses in my district who will be hit with a top tax rate of 43.4 percent if the small business deduction expires. This is a plan for Main Street, not Wall Street.
The tax bill also delivers on the president’s promise to cut taxes on tips and overtime. While the president’s call for “no tax on tips” was often dismissed by those on the left and in the media, it will provide needed relief for some of the poorest Americans struggling to make ends meet. I’ve introduced legislation to cut taxes on tips, because tipping is not just a paycheck, it’s a uniquely American custom to recognize hard work that is relied upon by millions of Americans. The new Republican Party of working-class Americans is cutting taxes for those who most need it.
What’s more, the tax bill will cut taxes for our seniors. With nearly 200,000 seniors in my district and millions across Florida, this bill recognizes the importance of providing relief to those living on fixed incomes. Rising prices have hit retirees especially hard, and it’s time Washington delivered the peace of mind they deserve. By reducing the tax burden on seniors, we’re helping them keep more of what they’ve earned over a lifetime of hard work.
Unfortunately, Democrats are fighting to let the Trump tax cuts expire. They’re pushing for the largest tax increase in American history, even as families are still recovering from “Bidenflation.” While the left demands more spending and more taxes, Republicans are focused on delivering real, permanent relief for families, workers and job creators.
As Vice Chairman of the Ways and Means Committee, I remain committed to protecting Florida families and standing up for our small businesses. It’s time for Congress to pass “One Big, Beautiful Bill” that extends the Trump tax cuts and delivers relief to hardworking Americans.
Rep. Vern Buchanan (R-Fla.) is the Vice Chairman of the Ways and Means Committee and the Chair of the Health Subcommittee. Prior to serving in Congress, Buchanan was in business for over 30 years and chaired both the Greater Sarasota Chamber of Commerce and Florida Chamber of Commerce.
