Senator, Mr Bartle, Income Tax discussed on C-SPAN

Automatic TRANSCRIPT

Signed and have your voice heard as they aren't today when to have the opportunity to offer mimics to the conference report senator we are going to continue this sum that's regular order report all due respect that is regular order center you're out of order we're gonna respect each other mr bartle i'm not the only one here radical order and keep the uh thank you chairman brady chairman hatch shell members of the conference committee of the staff the joint committee on taxation his prepared to documents to assist you in reviewing the two bills that are the subject of this conference center tax cuts in jobs act the two documents are x 64 and jc ex sixty five the former provides a textual walk through a uh similarities and differences in the two bills and the latter is a revenue tabled a comparison a sidebyside fashioned the provision of the to a of the respective legislation uh the legislation substantial make so many changes in terms of the taxation of individuals taxation taxation of business income and not changes are uh taxation of income earned from investments abroad all a try to be brief but as i noted it is substantial so i'll probably longer than know what i've uh presented material before the two respective committees i'll start with the individual income tax and i'll try and highlights some similarities and noted differences and the general structure of the two uh two bills one overriding a difference between uh the legislation passed by the house in legislation passed by the senate is that as a general matter most provisions of the individual title of the senate legislation expire after calendaryear 20 25 uh both bills repeal the personal exemption both bills a nearly double the standard deduction in terms of tax rates for the individual income tax structure the house provides four rates ranging from a low rate of twenty of twelve percent to a top rate of thirty nine point.

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