NW Tennessee News

On February 3rd, Congressman David Kustoff held roundtable discussions with business leaders in Shelby County to address the upcoming expiration of tax provisions in the Tax Cuts and Jobs Act (TCJA) of 2017. The TCJA, enacted during President Trump's first term, aimed to boost the American economy by encouraging business investment.

The act allowed citizens to retain more income and is considered a key legislative achievement of Trump's administration. Without intervention from Congress, many provisions are set to expire at the end of 2025. Congressman Kustoff sought feedback from local business leaders on which tax provisions should be extended to sustain a pro-growth economy.

"At the end of this year, many provisions in the highly successful Tax Cuts and Jobs Act of 2017 are set to expire. If they do, every American taxpayer and business will face historic tax increases," said Congressman Kustoff. "As a member of the House Ways and Means Committee, I am laser-focused on extending these provisions and ensuring the U.S. maintains a pro-growth tax code that benefits families, farmers, and businesses."

The roundtable included representatives from Sylvamo, FedEx Corp, International Paper, Mid-America Apartment Communities, Mueller Industries, First Horizon Bank, Orgill, Independent Bank, Bank of Fayette County, Landers Auto Group, Sports Clips, and Boyle Investment Company.

In 2017, Congress passed the TCJA with President Trump signing it into law. It was a significant reform to federal tax codes affecting individual income rates and corporate taxes among others. Without Congressional action by late 2025, there will be substantial tax increases for taxpayers and businesses alike. Congressman Kustoff's role on the House Ways and Means Committee positions him as a key figure in upcoming tax negotiations.