Tax Reform

Since I was first elected to Congress, my mission has always been to help Arizona families. I believe through stopping wasteful government spending, bringing forward measures that help create well-paying jobs and shrinking our debt, we can build a healthier economy and secure the economic future of America's children. In 2017, the Tax Cuts and Jobs Act was signed into law, becoming our country's most sweeping overhaul of the federal tax code in over three decades. 

Each year after passage of the bill we have consistently seen great news for the economy. Our monthly jobs reports have shown low unemployment, more jobs, and an increase in wages across the spectrum, particularly in minority groups and women. I will continue to support pro-growth policies that drive economic prosperity, as well as ensure that our tax code works for our nation's families and keeps the United State's economy competitive. 

 

More on Tax Reform

June 1, 2020 In The News

Today, Rep. Tom Reed (NY-23), Rep. Josh Gottheimer (NJ-05), Rep. David Schweikert (AZ-06), and Rep. Henry Cuellar (TX-28) announced the introduction of the “Rewarding American Workers Act,” which will distribute much needed financial relief to millions of American workers who have staffed essential businesses over the course of the pandemic.

The bipartisan bill would retroactively give low and middle-income workers on the front lines of the response to COVID-19 an important source of additional economic support, while also addressing concerns regarding unemployment insurance.

May 19, 2020 In The News

National Taxpayers Union (NTU) sent a letter to Rep. Jodey Arrington (R-TX) and nine of his colleagues, thanking them for introducing the Accelerate Long-Term Investment Growth Now (ALIGN) Act (H.R. 6802). This bill would make the full and immediate expensing provisions of the Tax Cuts and Jobs Act (TCJA) permanent, allowing businesses to make critical investments as American economy recovers and rebuilds from the effects of COVID-19.

Read the full letter below.

Letter Text

Dear Congressman Arrington:

May 13, 2020 Press Release

WASHINGTON, DC – Yesterday, Congressman David Schweikert (AZ-06) helped introduce the ALIGN Act with Rep. Jodey Arrington (TX-19), Rep. Drew Ferguson (GA-3), Rep. Jason Smith (MO-3), Rep. Guy Reschenthaler (PA-14), Rep. Tom Rice (SC-7), and Rep. Brad Wenstrup (OH-2).

March 4, 2020 In The News

For every dollar invested in the Internal Revenue Service, the agency collects an average $5 in revenue, making it “one of the best investments in the federal government,” according to the Treasury Department’s fiscal 2021 budget justification.

But the Treasury Department has also advised Congress that every dollar invested in enforcement “requires a funding increase in operations support for technology and administrative costs.”

February 12, 2020 Press Release

WASHINGTON, DC – Today, Congressman David Schweikert (AZ-06) and Congressman Brad Wenstrup (OH-02) joined House Republican Leader Kevin McCarthy and others to unveil the Carbon Sequestration portion of the House GOP’s Environmental Plan. Congressman Wenstrup and Congressman David Schweikert (R-AZ) introduced legislation to expand the 45Q carbon sequestration tax credits and make them permanent in the federal tax code.

February 6, 2020 Press Release

WASHINGTON, DC – Today, Congressman David Schweikert (AZ-06) and Congresswoman Lizzie Fletcher (TX-07) announced their call for the Department of Treasury and the Internal Revenue Service (IRS) to issue critical guidance on the 45Q tax credit as quickly as possible.

January 10, 2020 In The News

A one-word drafting error in the 2017 tax code overhaul has sent companies ranging from specialty retailer PetSmart Inc. to Nissan Motor Co. scrambling to Capitol Hill for relief.

As part of the effort to offset a dramatic reduction in the corporate tax rate in the 2017 law, Republicans limited the ability of firms to claim tax breaks on net operating losses, or when deductions exceed income.

January 8, 2020 In The News

Rep. Tom Reed, R-N.Y., and several other House members on Jan. 8 introduced legislation that would institute a technology-neutral tax credit. The Energy Sector Innovation Credit Act is supported by the American Public Power Association.

Reed was joined in introducing the measure by fellow Ways and Means Committee members Reps. Jimmy Panetta, D-Calif., Darrin LaHood, R-Ill., Tom Suozzi, D-N.Y., David Schweikert, R-Ariz., and Josh Gottheimer, D-N.J..

January 8, 2020 Press Release

WASHINGTON, DCToday, Reps. David Schweikert (AZ-06), Tom Reed (NY-23), Jimmy Panetta (CA-20), Darin LaHood (IL-18), Tom Suozzi (NY-03) and Josh Gottheimer (NJ-05) introduced the Energy Sector Innovation Credit Act to encourage U.S. energy market innovation and ensure future generations have clean air to breath and clean water to drink. 

December 23, 2019 Press Release

WASHINGTON, DC – Rep. David Schweikert (AZ-06) and Rep. TJ Cox (CA-21) along with 67 other members of Congress, sent a bipartisan letter to the IRS Commissioner Charles Rettig, asking him to provide more transparency about translation services at the IRS.