Representative Rob Bishop is excited about the passage of the Tax Cuts and Jobs Act approved by the House of Representatives. “Passage of this bill will mean great savings for America’s middle class families,” shares Rep. Bishop. “The expansion of the child tax credit is in line with Utah values and American ideals. Additionally, this bill will encourage wage growth and job creation in the Beehive State, and the tax system in America is now on its way to becoming more fair and simple.” 71,033 taxpayers in the 1st District of which Basin counties are a part, claim the child tax credit which will now be increased from $1,000 dollars per child to $1,600 dollars per child. Tax relief will also be more readily available for small businesses with 40,477 taxpayers in the 1st District that have small business income. There will also be an elimination of the Alternative Minimum Tax which impacts 5,080 taxpayers in the 1st District. Finally, the Tax Cuts and Jobs Act means simpler taxes for the 106,935 taxpayers in the 1st District itemizing their taxes.
