Sen. John Kennedy (R-La.) Helps Pass Once-In-A-Generation Tax Cuts For The American People

“This bill will help every single Louisiana family, and I am proud to be a part of this historic moment.” –said Sen. Kennedy

WASHINGTON, D.C. – U.S. Sen. John Kennedy (R-La.) voted today to pass a once-in-a-generation series of tax cuts.  By voting for the bill, Sen. Kennedy made sweeping reforms to America’s antiquated tax code while delivering on his campaign promise to lower taxes and help get the economy moving again. 

“This bill helps every single Louisiana family by putting more dollars into their paychecks instead of federal coffers.  New jobs get created when families spend those dollars.  It’s Economics 101,” said Sen. Kennedy.  “We doubled the standard deduction.  We more than doubled the child tax credit.  We lowered tax rates.  I’ve said it before, and I’ll say it again: This bill is about tax cuts, jobs, and more jobs.  We have delivered on both.  We’ve finally given families and businesses meaningful tax cuts.  We’re giving them the tools to dream and to build and to prosper. ”

Highlights from the legislation:

• Increases Take-Home Pay: The typical family of four will receive a tax cut of $2,059.

• Lowers Tax Brackets: The new tax brackets are 10%, 12%, 22%, 24%, 32%, 35%, and 37%.

• Doubles the Standard Deduction: For an individual, the standard deduction goes from $6,350 to $12,700.  For a married couple, it goes from $12,000 to $24,000.

• Doubles the Child Tax Credit: The child tax credit is doubled from the current $1,000 to $2,000, and more parents are allowed to claim the credit.

• Repeals Obamacare’s Individual Mandate: Repealing this unpopular tax will help provide additional relief to low- and middle-income families.

  • 135,510 people in Louisiana paid the individual mandate tax penalty in 2014 rather than purchase insurance.

  • Builds Families: The Adoption Tax Credit is preserved, which ensures that the adoption process remains accessible and affordable.

  • Supports Teachers: The Educator Expense Deduction is retained, allowing teachers to claim a deduction for money they spend out of pocket on their classrooms.  This tax deduction helps teachers who selflessly spend their own money on school supplies.

  • Preserves Historic Tax Credit: By preserving the Historic Tax Credit (HTC), Louisiana’s historic properties and communities will continue to be revitalized and create new economic opportunities.

  • Provides A Two Year Boost In GOMESA Funding: Under current estimates, Louisiana will receive an additional $100 million in revenue under the Gulf of Mexico Energy Security Act until 2020 and 2021.  This would allow our state to invest in priorities such as coastal restoration and hurricane protection.

Higgins' Amendment To Remove IRS Army Rejected By Democrats

“Despite unified Republican opposition, Democrats just pushed through a massive tax increase on the American people. They voted to weaponize the IRS against working Americans. This is a horrible bill that will worsen inflation and injure American families. Democrats own this failure, and they will answer for it in November.”

Despite unified Republican opposition, Democrats just pushed through a massive tax increase on the American people. They voted to weaponize the IRS against working Americans.https://t.co/gtuz435TTq

— Rep. Clay Higgins (@RepClayHiggins) August 12, 2022

LANDRY: Democrats Should Start Gun Control Debate on IRS Agents

Maybe the Democrats should start the debate about gun control here! IRS Special Agents Must ‘Carry a Firearm, Be Willing to Use Deadly Force‘ https://t.co/T28XEENkSq via @BreitbartNews

— Jeff Landry (@JeffLandry) August 12, 2022

The job listing says:

As a Special Agent you will combine your accounting skills with law enforcement skills to investigate financial crimes. Special Agents are duly sworn law enforcement officers who are trained to “follow the money.” No matter what the source, all income earned, both legal and illegal, has the potential of becoming involved in crimes which fall within the investigative jurisdiction of the IRS Criminal Investigation. Because of the expertise required to conduct these complex financial investigations, IRS Special Agents are considered the premier financial investigators for the Federal government.

Read more: IRS Job Listing: Special Agents Must ‘Carry a Firearm and Be Willing to Use Deadly Force’

List of Tax Hikes in Democrat Reconciliation Bill

Photo source: ATR

$6.5 Billion Natural Gas Tax Which Will Increase Household Energy Bills       

$12 Billion Crude Oil Tax Which Will Increase Household Costs

$1.2 Billion Coal Tax Which Will Increase Household Energy Bills

Corporate Income Tax Hike on U.S. Businesses Which Will Be Passed on to Households

$124 Billion Stock Tax Which Will Hit Your Nest Egg — 401(k)s, IRAs and Pension Plans

95% Federal Excise Tax on American Pharmaceutical Manufacturers

$52 Billion Income Tax Hike on Mid-Sized & Family Businesses

Supersizing the IRS to Increase Audits – $124 Billion

Read more: List of Tax Hikes in Democrat Reconciliation Bill

Louisiana still home to nation’s highest combined sales tax rate

The Washington, D.C.-based Tax Foundation ranks Louisiana as having the highest combined state and local sales tax rate in its Midyear 2022 report, matching the foundation’s ranking from earlier this year. 

Of the 45 states and District of Columbia that collect statewide sales taxes, Louisiana’s rate of 4.45% ranks 38th, according to the report. However, Louisiana also boasts the second-highest average local sales tax rate at 5.1%. When the state and local sales tax rates are combined, Louisiana jumps to the No. 1 spot.

Read more: Louisiana still home to nation’s highest combined sales tax rate

Louisiana has the highest combined state and local sales tax rate in the nation, according to a Tax Foundation report. https://t.co/3ZfpCcRcH1

— Business Report (@brbizreport) July 19, 2022

Nothing Curative About Dems Inflation, Higher Taxes and Prices

Congressional Democrats are one step closer to passing their trillion-dollar "Build Back Better" spending package.

On July 6 U.S. Senate leaders hashed out a key proposal that would allow Medicare to "negotiate" with pharmaceutical companies over prescription drug prices.

The effort is part of Senate Majority Leader Charles Schumer's, D- N.Y., drive to coax centrist Sen. Joe Manchin, D-W. Va., into voting for the huge spending bill.

But what Democrats are contemplating is actually a de facto system of price controls — and it would destroy the market for drug research.

Read more: Nothing Curative About Dems Inflation, Higher Taxes and Prices

Taxing Citizens and Businesses and Suing Oil and Gas Isn’t the Best Idea After All

With election season in full swing and “Honor Code” looking for re-election to the Governor’s seat, you’ll be hearing all kind of spin about how his liberal policies have made Louisiana better. However, suing one of the largest industry in the state and massive taxation in Louisiana doesn’t nearly work out as well as it seems.

The drop caused Louisiana to end March with 1,981,100 jobs, according to preliminary numbers released Friday by the U.S. Bureau of Labor Statistics. The numbers are not seasonally adjusted.

Construction fell by 6.3%, or 9,600, over the past 12 months to 143,400 jobs. Information was down by 2,200 jobs, or 9%, to 22,200. Mining and logging, which includes oil and gas jobs, fell by 1,100 jobs, or 3.1%, to end at 34,400. Professional and business services was down by 0.7%, or 1,500, to 211,300. Trade, transportation and utilities was down by 0.2%, or 800 jobs, to 378,700.

More of Uncle Sam Killing Us With Taxes

Photo source: Millennial Money Man

If having you taxed for everything from personal income to private property to gasoline for your vehicle wasn’t enough, Uncle Sam has found another way to crawl into your wallet:

WHEN YOU EXCHANGE a $20 bill for two $10 bills, you don’t pay sales tax on the transaction, even though, theoretically, you are “buying” the tens. The notion is utterly preposterous. Yet if you purchase a gold coin that was created by the U.S. Mint and is legally usable for commercial transactions, in some states you have to pay sales tax on that coin. Uncle Sam also says people who buy and sell such coins are liable for capital gains taxes. Of course, you would never buy a silver dollar from the mint for, say, $35 and then use it to pay for a $1 candy bar, but the point is that such coins are legal tender.

Read more: Sales Of Gold And Silver Should Not Be Taxed

HENRY: ​Thank You Whip Scalise and US Senator Cassidy For Helping Stop the Health Insurance Tax

Photo source: LA House of Representatives  

As a taxpayer and safeguard of the state’s finances, I appreciate the work Whip Scalise and US Senator Cassidy are doing to Stop the health insurance tax (HIT).

This HIT tax can add nearly $500 per worker to the annual premium, an amount sufficient to have large-scale effects within any company, including slowdowns in hiring. From a broader perspective, I am disturbed by the effect of the HIT tax on my constituents and the local economy. The Louisiana small business community is unanimous in its opposition to the HIT tax because of the negative consequences for their companies. Working families often feel the brunt of the impacts, and we all appreciate the leadership Whip Scalise and US Senator Cassidy have shown in pushing back against these taxes.

The HIT Tax impacts everyone. HIT tax hurts low- and fixed-income residents who rely on Medicare Advantage, because their costs also increase with the tax. This group is probably the least able to absorb price hikes in the hundreds of dollars, and we should seriously consider the ethics of adding to their health care costs.

We should all be thankful that Whip Scalise and US Senator Cassidy are leading the charge to extend the current moratorium on the health insurance tax that is safeguarding businesses, working families, and seniors. Louisianans deserve similar protections in 2020 and beyond.

State Representative Cameron Henry

Chairman, House Appropriations Committee

Americans for Tax Reform: The Top 20% of Households Pay 88% of Federal Income Taxes

Photo source: TexAgs

The recently elected brain trust on all issues fiscal, Alexandria Ocasio-Cortez, has decided that the top earners do not pay their “fair share” and should have 70% of their income stolen, er, taxed. The following information, obtained from the Americans for Tax Reform, indicate exactly how much the wealthiest do contribute:

According to the Congressional Budget Office: 

-The top one percent of households pay 39.4 percent of federal income taxes and 26.2 percent of total federal taxes.

- The top 20 percent of households pay 88.1 percent of federal income taxes and 69.5 percent of total federal taxes.

- The top one percent of households pay an average income tax rate of 24 percent while the middle quintile pays an average income tax rate of 3 percent.

- The top one percent of households pay an average total tax rate of 33.3 percent while the middle quintile pays an average total tax rate of over 14 percent.  

- The top 20 percent of households pay an average total tax rate of 26.7 percent while the middle quintile pays an average total tax rate of 14 percent. 

Read more: The Top 20% of Households Pay 88% of Federal Income Taxes

Americans for Tax Reform Urges Senate to Reject Cotton/Kennedy Amendments to First Step Act

Photo source: Twitter

“The costs, human and monetary, are too high to not pass the bill. Hugely long sentences for non-violent offenders ruin lives and families and drain taxpayer dollars. Senators should wholeheartedly support the FIRST STEP Act so it becomes law before the end of 2018.

This is the “first step” in bringing reform to a broken, expensive system. The reform will increase public safety by using proven methods to reduce recidivism, effectively driving down the prevalence and cost of crime for generations to come.”

Read more: ATR Urges Senate to Reject Cotton/Kennedy Amendments to First Step Act

Americans for Tax Reform: Conservatives Oppose HHS International Pricing Index for Medicare Part B Drugs

Photo source: Twitter 

In a letter to the Department of Health and Human Services, ATR and 56 other conservative groups and activists expressed opposition to HHS’s “International Pricing Index” (IPI) payment model for drugs administered under Medicare Part B.

Read more: ​Conservatives Oppose HHS International Pricing Index for Medicare Part B Drugs

HIGGINS: Making Tax Cuts Permanent

Photo source: FreedomWorks

The following was provided by Congressmen Clay Higgins’ office concerning tax cuts. 

Friends -

I want to give you a quick update on Tax Reform 2.0, which passed through the U.S. House of Representatives last week. This includes three bills that make President Trump's tax cuts permanent, expands savings options for American families, and encourages small business innovation. This is a big win for all Americans.

Since passing historic tax cuts last year, we have seen a reignited American economy, millions of new jobs created, record low unemployment, bonuses, pay increases, and new investments across the country. American workers now keep more of their money, and Tax Reform 2.0 makes those tax cuts permanent.

According to the nonpartisan Tax Foundation, locking in tax cuts for individuals and small businesses will create 1.5 million new jobs, boost wages by 0.9%, and increase long-run GDP growth by 2.2%. We're going to keep growing our economy and producing wins for American workers.

Here are some of the specific changes included in Tax Reform 2.0 that will benefit your family:

Protecting Middle-Class Tax Cuts

• Makes lower tax rates permanent for individual filers
• Locks in the enhanced Child Tax Credit
• Creates a Paid Family Leave Tax Credit

Promoting Family Savings

• Allows small businesses to join together to create 401(k) plans to their workers
• Eliminates the age limit on IRA contributions
• Expands 529 Education savings accounts, allowing them to be used for apprenticeship fees, homeschooling costs, and paying off student debt
• Allows families to access retirement accounts without penalty when welcoming a new child by birth or adoption
• Creates a new Universal Savings Account (USA) to offer a flexible savings tool for families to use at any time

Encouraging Small Business Innovation

• Allows new small businesses to write off more of their initial start-up costs
• Expands access to research & development credits for start-up businesses

These reforms build on the successes of the Tax Cuts & Jobs Act and major regulatory reform that has reignited our economy. We continue to push for conservative, pro-growth policies that create jobs and grow the economy. As Tax Reform 2.0 heads to the Senate, I am hopeful that it will be considered and passed quickly.

Fake News on the Bayou

Photo source: FreedomWorks

While states neighboring Louisiana and other competing states are enacting pro-growth tax reform to make their states more attractive destinations for the expected uptick in global capital flows into the U.S., Gov. Edwards is busying implementing fiscal policies that make Louisiana less attractive to investors and site selectors. Despite all of this bad news, one can forgive folks in Louisiana for not being aware of what an outlier the Pelican State has become, seeing as those who report on state government in Baton Rouge have a habit of obscuring basic facts, such as whether lawmakers are raising or cutting tax rates.

Read more: Fake News On The Bayou: How One Governor's Tax Hike Becomes A Tax Cut

HIGGINS: The Real Impact of Tax Reform

Photo source: YouTube 

 “Mr. Speaker, over the course of the past 500 days, this Congress has worked with President Trump to pass historic tax cuts and regulatory reform. As a result, this is the strongest economy we have seen in two decades. Many of my colleagues across the aisle, whom I respect, continue to posture otherwise, ignoring the facts. They have dismissed our efforts as 'crumbs,' saying that tax cuts are 'Armageddon.' But outside of this Chamber, outside of the small bubble that is D.C., the real America exists and real Americans who get it. People concerned with earning an honest living and providing for their families, because of tax reform, those families are seeing new jobs created. They are seeing real wage growth. They are seeing new investments in their communities.

Mr. Speaker, I travel throughout the district that I represent. I speak directly to the citizens that I serve. In Lafayette, Abbeville, New Iberia, Lake Charles, everywhere we go, there are real people telling real stories about how tax cuts are improving their lives. Americans that I represent, they have shared their stories about how they are using their tax cut to pay bills, to save for retirement, or to buy new school clothes for the kids. Small business owners across South Louisiana have shared how they are expanding operations and investing in their employees. That is the real impact on families in Louisiana and across America.

This body spent months debating the merits of the Tax Cuts & Jobs Act. I and many of my colleagues projected more jobs, more investment, and a stronger economy. We were right. Those projections have become reality: nearly three million new jobs since President Trump was elected; one million new jobs since we passed historic tax cuts; unemployment at its lowest point in half a century; consumer confidence at a 17-year high; small business optimism at an all-time high; and real GDP growth projected at over four percent for 2018. Let me share that I have read the Book of Revelation. This is no 'Armageddon.' This is a historically strong economy fueled by tax cuts and regulatory reform. Mr. Speaker, America is back. We are open for business, and Americans will continue to benefit from the pro-growth conservative policies of President Trump and this Republican Congress.”

"Honor Code" Is Bragging About This?????

After doing all he can to kill the oil and gas industry here in the State of Louisiana, our own "Honor Code" and the Louisiana version of Barack Obama, John Bel Edwards, has come out with a statement touting the creation of a whopping 150 new jobs in the Monroe area with CenturyLink.  

I would be more likely to believe that this deal was done in response to the recent changes in the tax system implemented by the Republicans in Congress and pushed by President Trump rather that the "business climate" within this state.  "Honor Code" has done nothing in his two years as governor, other than raise taxes on both the citizens of the state and the companies that do business here.  

If there is anything more apparent that this clown tripped into his office, then I don't know any.  The sanctimonious Vitter critics should be proud of the circus being run in Louisiana.  But don't blame it on us that supported the Republican candidate in the last governor's election.  We all voted for Vitter.

Graves & Abraham to Tax Bill Negotiators: Don’t forget about Louisiana flood victims

Photo source: ULLA

FOR IMMEDIATE RELEASE
December 12, 2017
Contact: Kevin Roig, 202-225-3901

WASHINGTON, DC – Louisiana Congressmen Garret Graves (R-Capital Region) and Ralph Abraham, M.D. (R-Alto) sent a letter today urging Senator Orrin Hatch, Chairman of the Senate Committee on Finance, and Congressman Kevin Brady, Chairman of the House Committee on Ways and Means to retain disaster tax relief language in the final product of negotiations currently underway in Washington to resolve differences between House and Senate versions of major tax reform legislation.  The disaster tax relief, which was included by Senators Bill Cassidy and John Kennedy in the Senate’s version of the bill, accomplishes the goals of separate legislation Graves introduced earlier this year - H.R. 2849, the Louisiana Flood and Storm Devastation Act of 2017, which would grant homeowners and individuals emergency tax relief, the ability to withdraw from retirement accounts without incurring penalties, casualty loss provisions, work opportunity tax credits for employers, and relief for certain charitable giving. The bipartisan bill was cosponsored by Congressmen Richmond (D-LA), Abraham and Higgins.

“We aren’t asking for special treatment,” reiterated Graves. “We’re asking for our flood victims to be given the same, common sense relief that disaster victims in Texas, Florida and Puerto Rico were granted after disaster struck those communities.  Too often after disasters, government ends up getting in the way of recovery – this is a chance to actually help recovery and remove nonsensical penalties currently imposed on victims for wanting to take care of themselves.”

Dr. Abraham added, “Louisiana flood victims deserve equal access to disaster tax benefits that have been afforded to other states. Our people are still recovering from two historic floods we suffered last year, and this tax relief will go a long way toward facilitating that recovery.”

Louisiana Congressmen Clay Higgins and Mike Johnson also signed the letter, which can be readhere. You can read more about H.R. 2849 here.

Louisiana Citizens for Job Creators: Video details Fraud, LA Tax dollars shipped to other states

Photo source: Facebook  

Louisiana Citizens for Job Creators put out the following regarding rampant waste within the Louisiana DHS and "Honor Code" wanting more of the Louisiana taxoayer's money. 

• Louisiana saw over $40 million in Medicaid fraud in 2016.
  • Check it out here.
• $2.5 Million of OUR Louisiana tax dollars were sent to folks living in other states.
• All of this while the Louisiana Department of Hospitals budget skyrocketed up 60%!

And now the Louisiana Department of Hospitals wants another $2 Billion of our tax dollars?!?

What did the Louisiana legislature say about all of this? Governor Edwards bypassed them and awarded a $15 BILLION contract without their approval.

See the breaking video for all the facts.

KENNEDY: A tax code for the middle class – let’s invest in the American dream

Photo source: Wikipedia

BY SEN. JOHN KENNEDY (R-LA.)

It doesn’t take an expert to see that something is stalling the American economy.

2016 was the 11th straight year that America failed to achieve 3 percent annual growth, which was our average nearly every year since 1960. I’ve heard numerous pundits act like returning to 3 percent growth is something special. No, it’s just “average.” The American people deserve better than just average growth.

But even average growth is optimistic if we keep hamstringing our job creators. Our 40 percent corporate tax rate and broken tax code are chasing our ideas, our jobs, and our investors into the open, waiting arms of foreign countries. We are keeping wages and productivity low. We are crippling our small businesses.

Changes have to be made to unshackle our small businesses, but in the process, we can’t forget about the primary vehicle for economic growth: the middle-class.

I’ve said it before: What we have right now in America is too many undeserving people at the top getting bailouts and too many undeserving people at the bottom getting handouts. And you know who’s been stuck with the bill? Middle-class families. And they can’t afford it any more. Their kids’ tuition has gone up, their health insurance has gone up, but you know what hasn’t gone up? Their take home pay.

That’s why I’m speaking up for the middle class. Someone has to speak up for ordinary people when it comes to tax reform.

Middle-class families drive our economic engine. They buy the goods and services that our businesses are selling. They work hard to be able to spend and save and invest. They are our entrepreneurs and our innovators. And now, as they are trying to balance their checkbooks, nearly one-third of their income is automatically withheld and sent off to Washington.

Right now, if you’re a middle-class family in Alexandria, La., with a combined household income of $59,000 and two kids, and you claim all your exemptions and take the standard deduction, you’re still going to be sending the federal government $3,500. Now, that’s not even counting contributions to state and local taxes, or payments to Social Security and Medicare. By the time the bills are paid and there’s gas in the car, very little is left for the kids’ college funds.

I have a plan for how tax reform can target the middle class and bring those families some badly needed relief.

Nearly three-quarters of Americans opt to take the standard deduction when filing their taxes. It’s simple, it’s fair, and it requires less documentation than itemizing. All Congress needs to do is to double the standard deduction across the board in order to inject more than $600 billion back into the economy over 10 years, according to a 2014 CRS report. That’s an immediate shot in the arm for the American economy. That family of four in Alexandria will have their tax bill reduced to $1,700, freeing up almost $2,000 of hard-earned income.

That’s $2,000 new dollars back into my state’s economy. As the cost of earning more is reduced, people will want to work harder. That means more productivity and even more growth. It’s Economics 101: You give people more to spend and they’ll spend it, and grow the economy in the process.

We need to liberate the middle class and their power to spend and save. In short, we need to renew the belief in the American dream.

A tax reform policy that provides relief to the middle class, such as doubling the standard deduction, will reawaken the incentive to work, save, and invest. Our economic fate is tied to the health of our middle class and our small businesses. It’s high time that we offer middle-class Americans a tax code that believes in them.

Kennedy is the junior senator from Louisiana.

Source: The Hill

Citizens for Louisiana Job Creators: Fake News Alert - The Daily Advertiser

In a pathetic attempt at journalism, the editorial staff at the Daily Advertiser is the latest news organization to partake in shamelessly biased writing.

The paper recently published an article blaming Speaker Barras for the problems the state is facing. This is an outrageous accusation and calls into question the credibility of this "news organization."

At a time when Louisiana has raised the most taxes out of any state in the previous year, Barras should be applauded for taking a stand fighting back against tax increases and passing a fiscally responsible standstill budget.

The Daily Advertiser should get their facts straight and Speaker Barras should be thanked for his conservative service to the people of Louisiana.

This is precisely why people don't trust the media.