STATEMENT FROM SENATOR BLACKBURN ON TAX DEAL:

“President Trump unleashed our economy and helped businesses thrive through the Tax Cuts and Jobs Act. Reinstating R&D expensing, bonus depreciation, and the business interest deduction from the TCJA is essential for Tennessee businesses, and I am pleased to see that these provisions are included in the House package. Yet, allowing taxpayers to use their prior-year earnings to qualify for the Child Tax Credit will disincentivize them from working and harms our workforce and economy. I am hopeful Speaker Johnson or the Senate Finance Committee will address this provision prior to a vote before the Senate.” – Senator Blackburn