Colorado’s Morning News, Mike Coffman, December 20, 2017
Station: KOA, 850 am
Show: Colorado’s Morning News
Guests: Coffman, Mike
Link: https://koanewsradio.iheart.com/featured/colorado-s-morning-news/
Date: December 20, 2017
Topics:
HOST APRIL ZESBAUGH:: [00:00:00] Talk about it. Good morning. Good morning congressman from here in Colorado. Congressman from here in Colorado Mike Coffman joins us live Republican congressman from here in Colorado Mike Coffman joins us live to talk about it. Good morning. Good morning. April and with you here in Denver it doesn’t sound like there will be any difference in the vote today but how pleased are you with this final version.
U.S. REPRESENTATIVE FROM COLORADO’S SIXTH CONGRESSIONAL DISTRICT, MIKE COFFMAN: : [00:00:18] You know I’m really pleased I think for for families for small businesses and for keeping jobs from going overseas. This is a great bill for this country in terms of moving our economy forward. I think certainly there are winners and losers. If you’re from a high tax state you know it’s it’s going to be tougher and more people I mean the fact is that it takes away the exemption for state local taxes and provides a ten thousand dollars option which fits well for Coloradans but doesn’t work well if you’re in New Jersey New York or parts of California.
HOST APRIL ZESBAUGH:: [00:00:55] Well likely we had a lot of reaction this morning and my question has been I’ll ask it to you in fairness 2027 that seems to be the magical year when we may be ending up paying more than we are paying right now. What do you think about that.
COFFMAN: : [00:01:07] Oh I don’t think so. I mean again it depends on where you live and what your income is. I mean I think it doubles the standard deduction for for a married couple that goes to twenty four thousand dollars that they can either you know what they are itemized deductions they see that certainly they’re not going to use that. But if it’s lower than that they’re going to they’re going to be able to claim that doubles the child care tax credit. It does something that no other tax reform has ever done that it lowers the rates for small businesses that are that are not these larger corporations. So it’s just I mean we just need it we absolutely need it for this economy to continue to grow.
HOST APRIL ZESBAUGH:: [00:01:51] I know this ties into Wall Street and how well it’s been doing as well and the economy is just going gangbusters. The Dow has gone up more than 5000 points in this past year. How much credit do you give the president for that or where do you put the credit.
COFFMAN: : [00:02:04] Well I put this certainly in terms of supporting regulatory reform. I think I’d give that to the president supporting tax reform I think the market is anticipating that we’re going to get this done. And that’s and that’s the strength of the market is is the confidence like that in this economy. And so are he somehow fail. I think you’re going to see things really drop quickly but we’re not going to fail and we’re going to get this done. And I think as the American people grow to understand this that it you know it’s not the political class in Washington D.C. It’s not designed for it’s designed for the average family in America and it’s going to benefit them and everybody was just talking about it already is looking forward.
HOST APRIL ZESBAUGH:: [00:02:47] The stock market roaring down with the passage of this. It looks like the stock market stays red hot.
COFFMAN: : [00:02:52] I think. Well I mean but I think what we want to see is wage growth as a result of this. One of the things I mean that the fact is that we are not competitive globally and that we would continue to see these these U.S. corporations move overseas. We will be continue to see profits even from U.S. based corporations that have overseas operations not come these profits are returned to America. So we’ve got a lot of offshore money. I think that’s going to come back into the country. I think you’re going to see us former U.S. based corporations who have reincorporated elsewhere come home. And so again I think what this does for small business is some precedent. So I think it’s very exciting I think what Americans are going to see initially is just in terms of their withholding they’re going to see a lowering of their withholdings. So they’re getting more money in their pockets.
HOST APRIL ZESBAUGH:: [00:03:46] All right Congressman Mike Coffman we start wage inequities here in Denver and very little affordable housing those are things we certainly have to work on in the future. But congratulations. Hey thanks so much.
