What does the new tax law mean for Texas?

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1,101-page, Republican-backed overhaul of the federal tax code was signed into law Friday by President Donald Trump. The Tax Cuts and Jobs Act, which passed the House of Representatives 224–201 and Senate 51–49 with no Democratic support in either chamber, is being touted as the most significant tax code change in decades.

Houston-area Rep. Kevin Brady, R-The Woodlands, chairman of the House Committee on Ways and Means, said in a statement that the measure would be a boost to the economy.

“This legislation will deliver real relief to hardworking families in my district and across the country who will be able to keep more of the money they earn,” he said. “It will create more opportunities for workers to find that next new job, earn that long-overdue raise, and get ahead.”

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