U.S. Rep. Darin LaHood is praising the House version of the GOP tax plan he voted for last week.
During a Republican Party breakfast Monday in Bloomington, LaHood accused Democrats of demagoguery in opposing the measure he says helps most people.
"If you have a home that's less than $500,000, which 95 percent of my district does, you're going to continue to get your mortgage interest deduction. If you have property taxes of less than $10,000 you can write that off. People from $50,000 income up to $200,000, the middle class there, you're going to get a tax break," said LaHood, a Peoria Republican.
LaHood says he's disappointed the property tax provision is not in the Senate version of the bill.
Democrats have said most of the benefits from the bill go to big business and the very wealthy. They also worry about running up the deficit. LaHood said unlike other tax cuts in the past that have ballooned the deficit, this one will be different because it will spark enough economic activity to increase federal revenue.
LaHood said passing a tax bill will be easier than tackling healthcare. In spite of GOP control of both Congress and the White House, there has been no successful major healthcare legislation. LaHood said he's optimistic about tax changes
"Republicans generally were divided on the approach on healthcare philosophically which way to go. No one is defending the federal tax code. And no one should, right? There will be a few differences we will have to work out between the House and Senate. And I'm confident we can do that by the end of the year," said LaHood.
LaHood said he also favors House language doubling the standard deduction.
You can also listen GLT's full interview with LaHood:
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