It’s been about a month since pro-family, pro-growth tax reform became the law of the land, and the good news continues to roll in.
In just the past two days, Starbucks, Disney, Verizon, and JP Morgan Chase joined the growing list of businesses that are giving their employees bonuses and making big investments thanks to the Tax Cuts & Jobs Act. And in February, 90 percent of Americans will see bigger paychecks. For more on our plan, visit FairandSimple.gop.
After the #SchumerShutdown finally ended, House Republicans were back to work meeting with families, workers, and small business owners at home to hear about how tax reform has benefitted them.
Here’s what House Republicans have been up to these past few days:
California House Republicans in the OC Register: The lies are getting out of hand. This tax bill is great for California
By Majority Leader Kevin McCarthy (R-CA), Foreign Affairs Committee Chair Ed Royce (R-CA), and Reps. Mimi Walters, Tom McClintock, and Steve Knight (R-CA)
Let’s get some things straight. A family of four in California earning $60,000 or less a year will pay no federal income taxes. That same family earning $90,000 will see their federal income taxes fall by 22 percent, a tax cut of over $1,000. In our districts the median family of four will see a tax cut of up to $2,500 and the average single individual will see a tax cut of $1,400 to $1,900. But California is an expensive place, especially in our cities, which is why a family of four earning $200,000 will see a tax cut of over $1,500.
If you notice a trend, you’re right. Just about everybody is getting a tax cut — single or married, kids or no kids, rich or poor. Not only that, but businesses across the country are giving bonuses and increasing retirement funding for their employees while utility companies throughout the U.S. are lowering rates for their customers.
The news gets better. Our legislation cuts the small business tax rate to the lowest it’s been since the 1930s while reducing the corporate tax rate to 21 percent, below the international average of 22 percent. That incentivizes people to start businesses in America, move businesses to America, and hire Americans.
Rep. Doug Lamborn (R-CO) via Colorado Politics: Point/Counterpoint: Will corporate tax cut benefit middle class or the rich?
Despite these facts, naysayers remain starkly opposed to this historic legislation and claim only the wealthy benefit. “Crumbs” is what Nancy Pelosi called the bonuses and wage increases more than 2.6 million Americans have received in just the four weeks since the Tax Cuts and Jobs Act was signed into law.
Mrs. Pelosi is simply out of touch. For families who are living paycheck-to-paycheck, an increase in take-home-pay and a $1,000 bonus to start out the new year is the difference between fixing the car, getting dental work for the kids, taking a vacation, or just doing without.
Rep. Vern Buchanan (R-FL) in the Herald-Tribune: Tax reform creating jobs and raising wages
The verdict is in: The sweeping tax reform bill signed into law last month is already producing results, from local businesses expanding and raising wages to Apple Inc.’s decision to create 20,000 new jobs in the United States.
Employers here on the Suncoast and across the country have announced generous bonuses, pay raises and plans to expand and hire more workers.
Rep. Scott DesJarlais (R-TN) via Townhall.com: Tax Cuts and Jobs Act Already Paying Dividends
Donald Trump’s election turned the idea of a New Normal upside-down. Since then, President Trump and Republicans in Congress have worked hard to fulfill our campaign promises and rejuvenate the economy.
We unleashed domestic fuel production, prevented a federal land-grab affecting family farms, and liberated consumer lending from the grip of Washington bureaucrats. Most importantly, we enacted major tax reform, already paying dividends for the middle class.
Virtually immediately upon passage of the Tax Cuts and Jobs Act, dozens of U.S. companies announced wage increases, bonuses, hiring plans and future investments. Two million employees have already received extra compensation.
Rep. Ryan Costello (R-PA) via Vista Today: Tax Reform to Support Hardworking Families
Starting a new savings account, upgrading home appliances, improving wages and benefits for employees, and buying new equipment for a business are each examples of what I’ve heard constituents can do because of tax reform under the Tax Cuts and Jobs Act.
When I voted for this legislation, I was thinking of the hardworking families in Pennsylvania and how they deserve to keep more of their earnings. Under the new law, Pennsylvanians of all income levels will see a positive change. In the Sixth Congressional District, the average family of four will keep an additional $3,402 of their annual income.