Washington, D.C. - House Ways and Means Chairman Kevin Brady (R-TX) released the following statement regarding the recent report from the Government Accountability Office (GAO) finding the majority of taxpayers will receive a tax refund when filing their taxes next year:
“The stories purporting to cite the GAO report and claiming that people will see higher taxes because of the new withholding tables are simply not true.
“Historically, about three-quarters of Americans choose to be over-withheld during the year in order to get a tax refund when they file their returns. The new withholding tables maintain those historical levels-meaning that in addition to the withholding reductions they are seeing now, most Americans also will see tax refunds when they file their first returns after the Tax Cuts and Jobs Act."
