Tax Reform Passes Senate Finance Committee

Washington – U.S. Senator Tim Scott (R-SC) released the statement below after the Senate Finance Committee passed the Senate version of the Tax Cuts and Jobs Act, the most comprehensive tax reform legislation moved by Congress in three decades.

“I want to thank Chairman Hatch and all of my Republican colleagues on the Finance Committee for their hard work drafting and advancing this once in a generation opportunity to revamp our nation’s tax code,” Senator Scott said.

“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. Every single income bracket sees a tax decrease, and the typical American family will save upwards of $1,500 a year in taxes. 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!”