Wichita Standard

Yesterday, Representative Ron Estes of Kansas published an opinion piece in Newsweek addressing the implications of upcoming discussions on the extensions of the Tax Cuts and Jobs Act (TCJA) as a new Congress and president take office in 2025.

Rep. Estes emphasized the importance of tax reform for all Americans, regardless of political affiliation. He stated, "The average taxpayer in the Fourth District of Kansas—my district—would see a 27 percent tax hike if provisions from the Tax Cuts and Jobs Act (TCJA) are allowed to expire. That equates to the average Kansas family seeing their taxes increase by more than $2,200. After years of elevated inflation no American can afford this extra expense."

In his op-ed titled "GOP Rep: Americans Voted for a New Economic Trajectory. Congress Should Deliver," Estes noted that many people across various sectors have called for a change in economic direction. He argued that tax reform fostering innovation is essential for achieving this change.

Estes warned that allowing TCJA's business provisions to expire would adversely affect families and individuals, highlighting potential increased costs for businesses and consumers alike. He pointed out that over 46,900 small businesses in his district could face significant tax rate increases if certain deductions expire.

According to Estes, TCJA has successfully curbed corporate inversions and boosted U.S. treasury receipts beyond expectations. He stressed the need to maintain innovation within the country by renewing critical policies supporting research and development (R&D).

He cited Kansas as an example of innovation hindered by unfavorable policies like R&D amortization, which affects workers' wages since much R&D spending goes toward salaries.

As chair of the U.S. Innovation Tax Team on the Ways and Means Committee, Estes has engaged with constituents nationwide to assess TCJA's impact and potential consequences if its provisions lapse.

Estes concluded by highlighting bipartisan support for sensible tax reform demonstrated through legislation passed earlier this year aimed at providing tax relief for American families and workers.