Senator Collins meets with President Trump along with Senators Lamar Alexander and Lindsey Graham on Monday, November 28. Photo courtesy White House social media.
Washington D.C. – Senator Susan Collins has announced her intention to vote in favor of the tax reform bill currently before the United States Senate.
While the bill has been assailed by Democrats, many non-partisan analysts and groups have said that it will reduce taxes for the middle-class and improve economic growth and job creation.
Democrat opposition has largely focused around trying to maintain the Obamacare individual mandate which penalizes people who do not purchase health insurance, and a desire from Democrats to prevent tax cuts for people earning above certain levels of income.
Collins’ statement followed intense pressure to vote against the bill, but also the senior Senator’s work to improve the bill with four amendments.
Most notable were three amendments that Senator Collins said would be included in the final bill; the restoration of the SALT, or State and Local Tax credit for property taxes, which Senator Collins said is used by about 166,000 Maine households; an improvement to the medical expense deduction which allows more people to claim it; and an amendment to allow public employees to make “catch up” contributions to retirement accounts.
Senator Collins announcement of her intention to vote yes came after confirmation that those amendments would be included in the final bill.
“I don’t think there is a single American who thinks that our current tax code is fair, simple, or promotes economic growth. We need a tax system that will boost the economy, help the middle class, and encourage small businesses to grow and create jobs. If we stimulate the economy through tax reform, we can significantly increase federal revenues while boosting Americans’ take home pay.
“By nearly doubling the standard deduction and expanding the child tax credit, this bill will provide significant relief to lower- and middle-income taxpayers. For example, a single mother with one child earning $35,000 will see her taxes drop by nearly 4,000 percent. Instead of paying money to Washington, she will be getting more than $1,100 back each year to help her make ends meet,” Senator Collins said.