hahaha, and I'm the delusional one

David Young         Congressman         3rd District, Iowa
		April 3, 2018 Dear Ms. Grutz, Thank you for contacting me with your thoughts about efforts to simplify the tax code and provide tax relief to Iowans. It’s good to hear from you on this important issue. On December 20, 2017, I voted for the Tax Cuts and Jobs Act to provide tax relief to the hardworking Iowa taxpayers throughout the Third District who sent me to Washington to work for them. On December 22, 2017, President Trump signed the bill into law. As I have traveled throughout the District I have heard from too many folks who are living paycheck to paycheck, some working more than one job, and struggling to get by. My goal has always been to focus tax relief on middle income Iowans and those working hard and striving to climb the economic ladder who deserve it the most.  My vote came on the heels of an assessment by the nonpartisan Congressional Joint Committee on Taxation showing middle income Americans, those making less than $200,000, will see the most benefits from the tax relief legislation. The analysis also showed the share of all taxes paid by higher income Americans will continue to grow each year.  Among other provisions, the bill includes: Nearly doubling the standard deduction for single filers ($12,000) and married couples ($24,000). This is significant for Iowans and their families and means the first $12,000 of income for single filers or $24,000 of income for married couples will not be taxed. This puts more money in the pockets of hardworking Iowans to spend, save or invest. Doubling the Child Tax Credit from $1,000 to $2,000, providing a $500 credit for each non-child dependent, and retaining the Adoption Tax Credit. Lowering the tax rate of every tax bracket to 0%, 10%, 12%, 22%, 24%, 32%, 35% and 37%. Retaining the Student Loan Interest Deduction and the tuition waiver for graduate students. I cosigned two letters to my colleagues advocating these two provisions be maintained. Allowing the deduction of up to $10,000 in state and local taxes (SALT). Retaining the Medical Expense Deduction and expanding it for two years. Retaining the wind energy production tax credit which I led the charge on in Congress to maintain current law. Preserving the Mortgage Interest Deduction, yet reducing the cap from $1.1 million to $750,000. Retaining the Historic Tax Credit. Doubling the estate tax exemption to $11.2 million, or $22.4 million for couples. Lowering the tax rates for job creators – both small and large. Some of my colleagues and lobbyists determined to protect the status quo and broken tax code have used fear tactics and misinformation about H.R. 1.  One mistruth they continue to tout is this bill cuts funding to Medicare, Social Security, and Medicaid. Let me say this definitively – in this bill, there is not a single penny cut from Medicare, Social Security, or Medicaid. They claim H.R. 1 will trigger automatic cuts to these essential accounts and programs as a result of the PAYGO Act. Congress has waived PAYGO 29 times since 2010, many times a bipartisan way. We most recently waived PAYGO on December 21, 2017, which will protect these essential programs. I am committed to keeping the promise made to Iowans who paid into these programs and to ensure seniors and those in need have security in their retirement and access to affordable health care.  Iowans know how to better spend their money than the federal government and it is time to give Iowans their money back. You worked hard for your paycheck and you deserve to keep more of it. The IRS has started withholding less money from the paychecks of Iowans and they’ll have a bigger paycheck to spend, save, or invest as they please.  I appreciate all of the calls, emails, letters, and faxes residents of the Third District have sent me about this tax bill. Not since 1986 have we last overhauled our tax code. Since then, technology, new inventions, markets and globalism have changed society, economics, and the world. Our tax code needs to recognize this, and Iowans need to be recognized for their hard work, creativity, and spirit and rewarded by being able to keep more of what they earn.  Thank you again for reaching to me. Feel free to contact me at any time on any issue. Best, David Young Member of Congress