Business Government

Congressman Says First Look Tax Code Changes Was ‘Very Positive’

Congressman Brian Fitzpatrick last week in Philadelphia.
Credit: Petty Officer 1st Class Seth Johnson/ Coast Guard

Republican Congressman Brian Fitzpatrick issued a statement after fellow Republican lawmakers made their plan to update the tax code public.

The former FBI supervisor and accountant released the following statement:

“If this Congress is serious about standing up for middle class families and unleashing the power of the American economy, tax reform is the natural starting point. What is needed is both a tax reform bill and a jobs bill that provides relief to middle class families and growth opportunity for small businesses. As one of just 10 Certified Public Accountants in Congress, I will read and review this entire measure before concluding, but my first impressions are very positive. I firmly believe that it is our responsibility to capitalize on this once-in-a-generation opportunity; I look forward to supporting pro-growth tax reform.”

The Republican plan would provide tax cuts to companies and the New York Times reported would offer “more modest savings for middle-class families.”

Speaker of the House of Representatives Paul Ryan said the tax code update would help America compete better globally.

On the other hand, Democratic House of Representatives minority leader Nancy Pelosi released a statement that said the tax code changed will borrow “trillions from the future” and give tax breaks to the wealthy and corporate America.

“We are just getting started, and there is much work left to do. The special interests will distort the facts, the lobbyists will try to save their special deals, and some in the media will unfairly report on our efforts,” President Donald Trump said in a statement.

Fitzpatrick told local business leaders last month that he sees economic growth with three branches – a balanced federal budget, tax reform and regulatory reform.

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