WASHINGTON, DC (WAFB) –Both of Louisiana’s Republican US senators voted for the nearly $1.5 trillion tax bill, which passed by a narrow margin in the Senate early Saturday morning.
Sen. Bill Cassidy, a member of the Senate Finance Committee, said the legislation will cut taxes for working families in the state.
“The Tax Cut and Jobs Act cuts taxes for working and middle-income families,” Cassidy said in a written release. “It boosts the economy, repeals Obamacare’s individual mandate, preserves the Historic Tax Credit, gives tax relief to victims of the 2016 floods in North and South Louisiana and provides money to rebuild our coastline. This is a good bill for Louisiana and the United States.”
Cassidy noted the bill doubles the Child Tax Credit to $2,000, lowers income tax rates across the board, and preserves deductions for home mortgage interest and charitable contributions.
Sen. John Kennedy said a non-partisan group claims Louisiana will see an increase of more than 12,000 new jobs under the tax bill and the average family will gain more than $1,800 in after-tax income.
“This bill is about three things: tax cuts, jobs, and more jobs,” Kennedy said in a written release. “It doesn’t take an expert to see what’s stalling the American economy: middle-class families need to see more of their hard-earned dollars in their bank accounts. This bill gives them that while allowing American job creators the freedom and flexibility they need to increase wages and create jobs.”
The bill passed 51-49.