Additionally, the framework addresses the tax rate that working Americans pay.
As you can imagine, there is no shortage of opinions on what this new plan will do for those of us who work hard to earn our money. While conservatives are positive about this approach, many liberal outlets falsely argue how this proposed framework merely provides tax cuts for the rich. Sadly, these outlets are ignoring reality.
Ryan Ellis, the senior tax advisor at the Family Business Coalition, recently discussed the framework in Forbes by outlining three family scenarios. He used the median incomes defined by the Census, the changes outlined in the framework, and, to be fair, he used the assumptions cited by the left-leaning Tax Policy Center.
The first scenario was a husband, wife and two small children making the median middle-class combined income of $87,000 per year. In this scenario, the family could expect to see a tax cut of over $1,200 per year.
The second scenario featured a single mother of two small children earning the median income of $41,000 per year. In this scenario, she would see almost a $500 tax cut.
Finally, in the third scenario, a single woman with no children earning $36,000 per year would also receive nearly a $500 tax cut under the Republican framework.
This framework does so much to fix the tax code for those of us who go to work each day to support our families. It supports saving for children’s education needs and helps protect our retirement security. It supports working parents by helping them provide better resources for their children. These are the type of bipartisan endeavors our elected officials seek to achieve in Washington. This outline does so while upholding the conservative values that we cherish here in West Michigan.
While positive progress is being made, the framework has several steps to complete before we see a tax cut. I am glad to see Congressman Bill Huizenga discuss the framework, meet with constituents, and talk about the need to provide relief to middle class families and small businesses in West Michigan.
It’s time to tell our senators how important tax reform is for hard-working families in Grand Haven, across Ottawa County and throughout Michigan. Remember, it isn’t Washington’s money to begin with — it’s ours.
About the writer: Michael Gross is our newest Tribune community columnist. He tells us he is a businessman and scholar of American history and government. He resides in Ottawa County, where he has raised his family of four daughters along with his wife, Cindy.