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

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.

September 26, 2019 Press Release

WASHINGTON, DC – Today, Congressman Schweikert (R-AZ), Senator Chris Van Hollen (D-MD.), Rob Portman (R-OH), and Jeff Merkley (D-OR.) and Representative Danny Davis (D-IL.) announced new bipartisan, bicameral legislation to address a systematic injustice within the American Opportunity Tax Credit (AOTC). The AOTC is the primary tax credit available to students seeking a higher education; however, students with a felony drug conviction are permanently ineligible from using the credit.

September 17, 2019 Press Release

WASHINGTON, DC Today, Congressman David Schweikert joined Arizona colleagues in sending a bipartisan letter from members of the Arizona Congressional Delegation urging Congressional leaders to permanently repeal the medical device tax. Schweikert was joined on the letter by Senator Martha McSally, Senator Kyrsten Sinema, and Representatives Tom O’Halleran (AZ-01), Ann Kirkpatrick (AZ-02), Paul Gosar (AZ-04), Andy Biggs (AZ-05), Debbie Lesko (AZ-08), and Greg Stanton (AZ-09).

September 10, 2019 Press Release

WASHINGTON, DCToday, Congressman David Schweikert (AZ-06) received the National Taxpayers Union (NTU) “Taxpayers’ Friend Award” for having one of the strongest voting records in Washington, DC on supporting lower taxes, limited government, and economic freedom in 2018. Since being elected to Congress in 2011, Congressman Schweikert has proven to support economic prosperity, winning this award six additional times. After receiving the award, Congressman Schweikert released the following statement:

July 12, 2019 Press Release

WASHINGTON, DC – Congressman David Schweikert (AZ-06) led colleagues Congressman Brendan Boyle (PA-13), and Congresswoman Lizzie Fletcher (TX-07), in introducing H.R. 3587, legislation that will help amend a widely recognized must-pass ‘technical correction’ in U.S. tax law. This legislative fix will help businesses complete their taxes fairly, regardless of whether their accounting cycle lines up with the tax year, and better use their tax cuts to build up our economy, create more jobs, and invest in their businesses.