Today is Tax Day.  This is the last year that Americans will have to file under the old tax code. 

What the years ahead will look like:

1. Hardworking Americans will see lower tax rates, which means you will get to keep more of the money you earn. 
2. The standard deduction will be nearly doubled.  The new tax code will increase the standard deduction to $12,000 for individuals and $24,000 for married couples.
3. The Child Tax Credit will be doubled.  The new code increases the credit from $1,000 to $2,000 and makes it available to more families.  Raising a family is well worth it but can be very expensive.  The new tax code allows you to start planning for your children’s future by letting you keep more of your hard-earned money.
4. The Obamacare individual mandate will be repealed beginning January 1, 2019.  By eliminating this tax, Americans will no longer be forced to buy government-mandated health insurance.  You should have the freedom to buy the health care plan that is right for you and your family.
5. The death tax exemption will be doubled and is indexed for inflation.  This exemption will be increased to $11.2 million for 2018, which means more certainty for small business owners, farmers, and ranchers.

It is time to let hardworking Americans keep more of the money they earn.  This is the last year that we will see the negative effects of an outdated tax code.  There is always more to be done to help Americans, but this is a great first step.

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