East Arizona News

WASHINGTON, D.C. — U.S. Representative David Schweikert (AZ-01) authored an op-ed for the Phoenix Business Journal yesterday to advocate for the proven pro-growth policies in the Tax Relief for American Families and Workers Act, bipartisan legislation that will provide much-needed relief to struggling families and small businesses, spur innovation and job creation, and invest in the future of all Arizonans. Rep. Schweikert called on the U.S. Senate to swiftly pass the bipartisan tax package which passed the House with bipartisan support more than two months ago.

In his op-ed titled "My View: Bipartisan tax package would help Arizona businesses grow," Congressman David Schweikert expressed his dedication to supporting small businesses and families in Arizona. He stated, "Since first coming to Congress, my mission has been to help small businesses and families thrive in Arizona."

Schweikert highlighted the importance of fostering a business environment where small businesses can succeed, innovation is incentivized, and workers and families are empowered. Referring to his involvement in the Tax Cuts and Jobs Act (TCJA), Schweikert emphasized the positive outcomes of the legislation, including record-low unemployment, job creation, and higher wages.

The Tax Relief for American Families and Workers Act, a bipartisan tax package aimed at providing targeted relief to small businesses and households, was passed by the House with overwhelming support. Schweikert outlined key provisions of the bill, such as restoring full and immediate research and development expensing and 100% bonus depreciation, which are designed to stimulate economic growth and encourage investment in capital equipment and machinery.

Schweikert emphasized the potential impact of these provisions, stating, "R&D expensing is an investment in our country’s economic future," and highlighting the estimated benefits in terms of new R&D investment and job creation. He also pointed out the significance of the 100% bonus deduction for capital equipment and assets in boosting investment and creating new jobs.

In conclusion, Schweikert underscored the importance of economic growth for the nation's fiscal health and urged the Senate to act swiftly in passing the bipartisan tax package. He stated, "This bipartisan tax bill provides much-needed relief to struggling families and small businesses, spurs innovation and job creation, and paves the way for a brighter and more prosperous future for all Arizonans."

The article concluded with Schweikert's call to his colleagues in the Senate to seize the opportunity to enact meaningful tax reform for hardworking Americans and secure a better economic future for the nation.