Peoria Standard

ROCKFORD - Congressman Darin LaHood (IL-16) hosted a House Ways and Means Committee American Workforce Tax Team roundtable in Rockford this week with small business, workforce, and community stakeholders. The roundtable is part of an effort by Ways and Means Committee Republicans to get outside of Washington, D.C., study key tax provisions from the 2017 Trump tax cuts, also known as the Tax Cuts and Jobs Act (TCJA), set to expire in 2025, and identify legislative solutions to protect Americans. Rep. LaHood was joined at the roundtable by Rep. Mike Carey (R-OH), Vice Chair of the American Workforce Tax Team.

The American Workforce Tax Team, led by Rep. LaHood, is looking at ways to improve workforce hiring and retention, childcare and paid leave incentives, and education through the tax code. Today's roundtable provided important feedback from Illinois stakeholders about the positive impact of TCJA and the need to maintain and improve policy that reduces taxes and enables small businesses and workers to thrive.

"The Tax Cuts and Jobs Act generated the best economy in my lifetime, reducing and simplifying taxes for working families, creating jobs, bringing companies back to America, and strengthening our competitive posture towards China," said Rep. LaHood. "With key provisions set to expire in 2025, Congress cannot allow Illinois families, workers, and small businesses to get hit with a tax hike when they are struggling under the Biden-Harris inflationary economy. As the American Workforce Tax Team lead and Chairman of the Work and Welfare Subcommittee, our visit to Rockford provided critical insight on the importance of protecting TCJA and the need to improve tax provisions that support working families. I look forward to working with Ways and Means Chairman Jason Smith and my colleagues to put forth pro-growth tax policy that allows our communities in Illinois to thrive."

Rep. LaHood was joined by Rep. Mike Carey, along with Rockford business leaders from Collins Aerospace, SupplyCore, Powmet Inc., Scot Forge, Sound Inc., Fire Department Coffee, and Sangamo Construction at the roundtable.

Background:

The House Ways and Means Committee is the oldest committee in Congress with sole jurisdiction over tax policy.

In 2017, Congress passed the Tax Cuts and Jobs Act (TCJA), which Rep. LaHood supported. The legislation was the largest tax cut for workers and small businesses in a generation.

In 2025, much of TCJA is set to expire.

In April, Republicans on the House Ways and Means Committee set up ten “Tax Teams” to study key tax provisions from TCJA that are set to expire.

Congressman LaHood is Chair of the American Workforce Tax Team.

Congressman LaHood also serves on the Community Development Tax Team.

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