INDEPENDENT WOMEN'S FORUM STATEMENT
GOP TAX BILL IS A WIN FOR WOMEN
It Empowers Women and Families to Keep More of What They Earn, Enjoy Better-Paying Jobs, and Achieve the American Dream
WASHINGTON, D.C. — Independent Women’s Forum Senior Policy Analyst Patrice Onwuka issued the following statement on the Tax Cuts and Jobs Act:
"The Tax Cuts and Jobs Act is a positive bill that empowers women and families to keep more of what they earn, enjoy better-paying jobs, and achieve the American Dream.
"Key provisions such as reducing tax rates for low- and middle-income Americans, nearly doubling the standard deduction, increasing the child tax credit to $1,600 and establishing a new $300 credit for each taxpayer, spouse, and non-child dependent will collectively deliver a boost to the budgets of American households. For a mom making spending decisions, an addition of $1,000 or more will provide needed help for bills, medical expenses, college savings or an overdue family vacation.
"Retaining incentives to save for the future and for education encourages Americans to continuing investing in their futures.
"Pro-growth measures such as cutting the corporate and pass-through tax rates will lead to higher wages – giving American workers a long-delayed a pay raise. Reduced tax paperwork and lower taxes will also allow more women to start their own businesses and become their own boss.
"This bill may not fix every aspect of our current tax code, but it does a go a long way to simplify it and deliver much-needed tax relief, offering greater prosperity for all."
IWF released Working for Women supplement on tax reform last month. The document explains why tax reform offers an extraordinary opportunity to help women succeed in today’s economy.
Additionally, Working for Women: A Modern Agenda for Improving Women’s Lives, a report released by IWF last year, details a slate of policy reforms to help more women and families, in which they have more control over the most pressing parts of their lives – including reforms to the tax code to benefit women in the workforce and society.
Independent Women's Forum works to improve the lives of Americans by increasing the number of women who value free-markets and personal liberty.