[Congressional Record (Bound Edition), Volume 163 (2017), Part 14]
[House]
[Page 20152]
[From the U.S. Government Publishing Office, www.gpo.gov]




                               TAX REFORM

  The SPEAKER pro tempore (Mr. Rogers of Kentucky). The Chair 
recognizes the gentlewoman from Indiana (Mrs. Brooks of Indiana) for 5 
minutes.
  Mrs. BROOKS of Indiana. Mr. Speaker, over the past 31 years, our Tax 
Code has become broken. As our Tax Code is currently written, I have 
been told by many that it fails to support families across the country 
with the resources they need in order to properly plan for their 
futures. Our Tax Code has left those behind who are struggling to make 
ends meet, and that is unacceptable.
  Today is a historic day because that is all about to change. We have 
heard you. Today we will vote on comprehensive tax reform.
  During consideration of H.R. 1, Andrew from Indianapolis contacted 
me, asking that we craft a tax plan that helps the middle class. The 
Tax Cuts and Jobs Act bill does just that. Thanks to the reduced 
personal tax rates this bill provides, the average family of four, 
earning $73,000, will pay $2,000 less in Federal taxes.
  We heard you, Andrew.
  A single mother earning $40,000 will see $1,300 more in her paycheck. 
Those savings represent the ability for parents to save for 
opportunities, including future education costs for their kids, 
retirement savings; or for unexpected times when an emergency fund is 
needed to cover unplanned costs.
  I heard loud and clear from a lot of people in the Fifth District--
students and parents--about the importance of protecting graduate 
student tuition exemptions. To ensure we continue to support 
hardworking students pursuing their career goals, this bill continues 
those exemptions.
  We heard you.
  Deborah from Anderson called my office asking that we preserve the 
mortgage interest deduction. This bill does that. It makes no changes 
to deductions for current mortgages and it keeps the deduction in place 
for new mortgages of up to $750,000.
  I heard you, Deborah.
  I was also contacted by a young married couple from Zionsville, in my 
district, who said, thanks to this bill, they have done the 
calculations and they think they are going to receive a $5,000 tax cut. 
They will use that money to boost their savings so that they can buy 
their first home sooner than they expected.
  I heard you.
  Providing our friends, neighbors, colleagues, and loved ones the 
freedom to pursue their dreams--like buying a first home or saving for 
college--is what allows our society to improve and better itself.
  I encourage my colleagues to also listen to the American people to 
show that we have heard them, and to support this bill. I believe it 
will help provide security for families across the Nation and it will 
help turn their dreams into their new reality.

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