199A will keep those tax rate low for our pass through entities. That's the S corporations, LLCs, the partnerships. These are small hard working businesses that are family owned businesses across East Texas that If we pass this bill their taxes would go from about 21% to about 43% effective rate next year. That's unacceptable. And our folks in East Texas know that that's going to benefit them next year. Last thing I'll mention on the business front, and there's a lot to mention is the Made in America provision. (03:34–03:42)
CLAIM
Asserts that without the bill, taxes for certain businesses would increase from 21% to 43%.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
