Dear fellow South Carolinians,

Thank you for subscribing to my weekly e-newsletter, and please remember to follow me on Facebook, Twitter, Instagram and YouTube. 

Tax Reform

This week was another busy one for tax reform- with the Senate Tax Reform bill passing through the Senate Finance Committee. (You can watch me speak in the Senate Finance Committee here.) This is great news, because the Senate Tax Reform plan would lower taxes by $2,200 for a typical family of four making around $73,000 a year. Additionally, the Tax Foundation found that it would create 13,000 jobs in South Carolina, and that every state will see more jobs and higher after-tax income. I want to thank Chairman Hatch and all of my colleagues on the committee for their hard work drafting and advancing this once in a generation opportunity to revamp our nation’s tax code. We’re putting money back in the pockets of hardworking American families, ensuring the jobs of the future are created here in America, and giving some breathing room to a middle class that has been taxed too much for too long. I look forward to the full bill coming to the floor of the Senate in the coming weeks, and getting a tax reform package to the President’s desk before the end of the year. This is an amazing opportunity for the American family, and tax relief is coming!  I wrote more on this in the Post & Courier, and you can read the Tax Foundation’s study here.

Investing in Opportunity Act

Last week, my bipartisan Investing in Opportunity Act passed out of Finance Committee as a part of the Tax Reform package. Since I entered Congress, my goal was simple: create opportunity for everyday Americans wherever possible. It is a passion because I grew up in a single-parent household, surrounded in poverty, with very little expectation that I would find my way to success. But I learned that opportunity can truly be the difference that changes the course of one’s life. I know that when the IIOA is passed, when it actually reaches the people it’s intended to help, the results will be truly amazing because it will help everyday people in South Carolina and beyond build their way to a brighter future. I would like to thank the bipartisan group of cosponsors for their support & commitment to distressed & low-income communities across the country. You can read more about this major step here.

Sincerely,

Tim