GREENSBORO, NC -- Representative Ted Budd stopped by WFMY News 2 Friday. The Republican congressman talked taxes, jobs and President Donald Trump.
Budd says the United States House of Representatives could vote on tax reform by Thursday, November 16th. The House GOP proposal dramatically cuts corporate taxes, doubles the personal standard deduction, and simplifies the tax code by eliminating a host of tax breaks. Senate Republicans released their own version of the legislation Thursday.
After the failure of Republican efforts to repeal the Obama health care law, tax reform remains the only potential big-ticket legislative accomplishment for President Donald Trump's first year in office.
Budd told WFMY News 2, "the goal is to put more pay back in hard-working people’s pockets. So you think about a family that makes $60,000, couple of kids, that’s a $2,000 savings. They can do a lot with this. They can put it aside for savings with school, they can set it aside for emergency or a rainy day, they can pay down debt – whatever they want."
Budd said the tax plan will also encourage businesses to invest, and that could bring more jobs to the Triad.
Most Democrats oppose the tax reform plan. Senate Majority Leader Chuck Schumer says the plan will create tax cuts for the wealthy and leave others behind.
Budd also talked about President Donald Trump's first ten months on the job. Budd says the President is doing a good job when it comes to the economy. Budd said, "Well if you look at what he promised to do and you look at what he’s doing, he’s following a checklist and so he is really doing what he promised the American people that he would do. Very proud of him and he really is for the hardworking American family and the results are proving."
Budd serves North Carolina's 13th congressional district. This is his first term in congress.