Press Releases

Rep. Barry Loudermilk (R-GA) issued the following statement after the House passed the Retirement, Savings, and Other Tax Relief Act, H.R. 88:

“This vote reaffirms House Republicans’ continued commitment to alleviate the tax burdens placed on the American taxpayer. This package of bills will provide some retirement savings tax incentives, as well as tax relief for victims of disasters, specifically hurricanes Florence and Michael, in addition to the California wildfires. Among other provisions, Republicans voted to permanently repeal the Obamacare tanning tax and delay the Obamacare medical device tax, the health insurance tax, and the Cadillac tax. This legislation also makes several technical corrections to the 2017 tax reform law, which businesses in Georgia’s 11th Congressional District desperately need, and requires the IRS to develop a customer service strategy - something I have long advocated for. I urge my colleagues in the Senate to quickly consider its importance, and how it will improve the lives of America’s hardworking taxpayers.”

Summary of H.R. 88:

• Provides tax relief for Americans in disaster-stricken areas by relaxing restrictions on withdrawal of funds from retirements accounts, and temporarily suspending limits on charitable giving

• Makes it easier for Americans to save for retirement by removing burdensome regulations on pooled retirement plans

• Delays several harmful Obamacare taxes, including delaying the medical device tax for five years, delaying the health insurance tax, delaying the Cadillac tax, and permanently repealing the tanning tax

• Corrects several drafting errors in the 2017 tax reform law, so taxpayers can take full advantage of the tax savings in the law

• Places the IRS Independent Office of Appeals into permanent law, so taxpayers will have the ability to have their tax issues fully addressed

• Requires the IRS to establish a strategy for improving service to taxpayers