Noem, Rounds continue push for tax reform
South Dakota's congressional delegates continue to trumpet their chambers' respective tax reform plans.
A day after U.S. Sen. John Thune announced he will serve on the committee tasked with negotiating a tax reform bill between the U.S. House of Representatives and Senate, U.S. Rep. Kristi Noem and U.S. Sen. Mike Rounds took time Thursday to further ballyhoo the tax reform plans.
First up was Noem, who will be one of the House members charged with reconciling the two bills. Noem hammered home some of the core elements of the House GOP's proposed tax cuts, which, she said, will have a significant impact on wages and deductions.
"In fact, South Dakota numbers are that it results in an average of a $1,200 to $1,400 tax cut for the average South Dakota family, but would also increase their wages by $4,000 per household," Noem said in a Thursday call with reporters. "So that's life-changing for those average South Dakotans that are looking at this proposal and what it means to them and their family."
Noem, a member of the House Ways and Means Committee who's also running for her state's Republican nomination for governor in 2018, has been a key player in this round of tax reform talks from the beginning. And she pinned blame on Democrats for bringing negative attention to the plan, which slashes the corporate tax rate from 35 percent to 20 percent.
"I'd say it's directly related to all the fake news that's out there and the lies that the Democrat(ic) Party is putting out," Noem said. "I mean, it's unbelievable when I turn on my TV or listen to the news reports, the absolute untruths that we're hearing about this tax reform bill."
Later in the day, Rounds spoke on the same topic of tax reform, but with emphasis on the Senate version of the bill.
The bills have some differences. Among them, the Senate bill creates seven tax brackets compared to the House bill's four, the House bill preserves the health insurance mandate and the Senate bill increases the child tax credit from $1,000 per child to $2,000. The House bill increases the child tax credit to $1,600 per child.
On Thursday, Rounds spoke highly of the big boost he envisions for tax paying families through the proposal to increase the child tax credit. But he focused mainly on the potential re-investment the bill could add back into the American economy.
"It does provide, we believe, for bigger paychecks and more jobs and opportunities, because businesses won't be leaving our country," Rounds said.