Washington – Today, the House of Representatives passed the final version of H.R. 88, the Retirement, Savings, and Other Tax Relief Act and the Taxpayer First Act. Key provisions of this legislation would significantly benefit American small businesses. Whether it is through assisting business owners with providing employee retirement plans or redesigning a more taxpayer friendly Internal Revenue Service (IRS), this legislation is another step by Congress to spur economic growth and modernize the tax code.
House Committee on Small Business Chairman Steve Chabot (R-OH) said this in response to the passage of the legislation:
“Time and again we have heard about the benefits of last year’s Tax Cuts and Jobs Act for small businesses throughout the country. The legislation that the House passed today would build on that success by providing entrepreneurs with the assistance and clarity they need to compete and succeed.”
With the one-year anniversary of the historic Tax Cuts and Jobs Act just a few days away, the House of Representatives remains focused on creating a streamlined and reliable tax code on which American entrepreneurs can rely.
