On Friday, April 6, 2018, Congressman Daniel Webster spoke about recent legislative changes following lunch at the Southern Hills Plantation clubhouse. The Hernando County Chamber of Commerce event was sponsored by the Suncoast CPA Group, and attended by area business leaders and residents. Webster provided updates regarding tax reform, infrastructure and the Middle East.
According to Webster, 96 percent of Americans will see a reduction in their taxes, courtesy of the Tax Reduction and Jobs Act (Public Law 115-97). The new 2018 tax form will not be an actual post card, but its expected to be equivalent in size. The tax responsibility for large corporations, which was between 32-35 percent, will also be reduced to a maximum rate of 21%. Other tedious tax practices, such as depreciating assets such as vehicles and equipment each year has been eliminated.
The Congressman went on to say that he’s looking forward to working on an infrastructure bill. “In Florida, we can be in a county that doesn’t have Disney World, but we depend on people getting here … for eco-tourism, the beaches … all kinds of things that attract people.” Webster also mentioned the importance of improved infrastructure when faced with a serious hurricane, and people would need to leave the state.
Beyond the United States, Webster reported on the status of the war in the middle East. He ended with, “I am very impressed with Secretary (James) Mattis. He has …brought about the complete destruction of ISIS. (ISIS) didn’t want to deal, they didn’t want a compact or agreement or cease-fire, they wanted to have an Islam state. That’s it. Period.”
Text of the Tax Reduction and Jobs Act (TRJA) https://www.congress.gov/bill/115th-congress/house-bill/1
