Rep. Mike Flood, U.S. Representative for Nebraska's 1st District | Rep. Mike Flood Official Headshot
Rep. Mike Flood, U.S. Representative for Nebraska's 1st District | Rep. Mike Flood Official Headshot
U.S. Congressman Mike Flood has expressed optimism following the passage of H. Con. Res. 14, the FY25 Budget Resolution, which aims to provide tax cuts for working Americans this year.
"Tonight’s vote was the first step on the path to delivering tax cuts for working Americans," stated Rep. Flood. He emphasized the potential consequences if Congress fails to act, noting that "working Americans will see a tax hike when the Trump tax cuts expire." For instance, a family earning approximately $76,000 could face a $1,600 increase in taxes if no action is taken.
The resolution passed is currently a framework that requires further development. "To deliver these tax cuts, Congress now has to identify places to curb federal spending," said Flood. Congressional committees are expected to work on finalizing the details of both the tax cut and budget plan in the coming weeks.
Flood highlighted the importance of swift action: "It’s critical that we get the reconciliation package done quickly, so that working Americans get continued tax relief and to spur new economic growth."
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