LaHood Touts Tax Cut Success as Affordable Housing Solution

U.S. Rep. Darin LaHood of Illinois claims that the Working Families Tax Cuts Act has been successful in making life more affordable for families in his district.

The Act, which was passed last summer, codifies and makes permanent tax cuts introduced by President Donald Trump during his first term in office.

LaHood mentioned several benefits of the Act, including the elimination of taxes on tips, overtime, Social Security benefits, and car loans.

He cited a barber who was able to hire two new employees due to increased profitability, as well as Caterpillar, Inc.'s record year due in part to bonus depreciation.

The congressman also mentioned his own bill, the 21st Century ROAD to Housing Act, which aims to address the issue of affordable housing in Illinois by making it easier for banks to lend to younger buyers and clearing up regulatory issues that hinder home-building.