WASHINGTON, D.C. – Today, the U.S. House of Representatives passed its tax reform bill, the Tax Cuts and Jobs Act (H.R. 1). After the vote, U.S. Congressman Sam Johnson (TX-03) released the following statement:
American families need tax relief that rewards their hard work and boosts the economy through pro-growth business reforms. I’m encouraged that today’s bill works toward that goal by making the tax code simpler and fairer. I’m also glad to see some of my commonsense bills included in the legislation. As Congress takes the next steps toward tax reform, I will continue to do everything I can to make tax reform the best it can be – reform that works for the middle class. Reforming America’s complicated and broken tax code is too important to not get right.
The following legislation introduced by Congressman Johnson is included in the tax reform bill:
Refundable Child Tax Credit Eligibility Verification Reform Act (H.R. 2149). This bill would prevent illegal immigrants from getting the refundable portion of the Child Tax Credit by requiring individuals to provide work-eligible Social Security numbers when claiming the credit.
EITC Eligibility Verification Act (H.R. 3483). This bill would stop individuals who are not authorized to work in the U.S. from claiming the earned income tax credit (EITC). Specifically, it would require individuals claiming the EITC to provide a work-eligible Social Security number.
Savings Enhancement by Alleviating Leakage in 401(k) Savings Act (H.R. 2030). The SEAL Act would provide an extended repayment period for individuals who take out loans from their 401(k)s and later leave their jobs. Individuals would have until the tax filing deadline instead of only 60 days. Moreover, this bill would allow workers who happen to take hardship withdrawals to continue saving for retirement.