What tax reform means for Ohio

If the past six months have taught us anything, it’s that the Tax Cuts & Jobs Act is working.

For six months, the American people have seen higher wages and lower utility costs. Businesses are investing here in America and there are more jobs than people to fill them. For more on what tax reform means for you and your family, visit FairandSimple.gop.

The numbers are great, and the stories are even greater. House Republicans from Ohio are sharing the good news of tax reform and how our pro-family, pro-growth agenda is helping everyday Americans in their communities:

Rep. Bill Johnson

“Mr. Speaker…I am really proud to join all of our colleagues tonight to talk about the effects of the Tax Cuts & Jobs Act. I want to focus my comments on the good news coming out of eastern and southeastern Ohio as a result of these historic tax reforms.

“Just last week, we celebrated the six-month anniversary of the Tax Cuts & Jobs Act being signed into law. In just these few months, we have seen consumer, business, and manufacturing confidence at or near record levels, more money back into the pockets of hard working Americans, and unemployment rates at some of the lowest levels we have seen in nearly two decades.

“In the Sixth District of Ohio, since the start of 2017, unemployment rates have dropped significantly in each of the 18 counties I represent. Now, we know there is still more work to do, but the trends are moving in a positive direction.

“Many of our friends on the other side of the aisle said the sky would fall when we passed this landmark legislation but, in fact, the opposite has happened.

“Just last week, one of my constituents from Marietta, Ohio, stopped by my office to tell me he is receiving an additional $80 each week in his paycheck due to tax reform. That is an additional $320 per month, or $3,840 per year. That is even more than the average of what we thought was going to happen for hardworking families. He said he uses this money to help pay his car payments, and he expressed his gratitude for that extra money he has in his pocket to help him make those payments.

“I hear these stories every day when I travel my home district in eastern and southeastern Ohio, and I can tell you firsthand, we are still seeing the benefits from the Tax Cuts & Jobs Act, and we will for a long time to come.
The results are real, and it is encouraging to see what happens when we refuse to accept the previous administration’s slow-growth economic policies as some kind of new normal.

“There is no doubt: The hardworking men and women of eastern and southeastern Ohio are optimistic about the positive economic growth under our new tax code, but they are not the only ones. This positive outlook is happening all over America.

“You know, it is about time that Washington creates an environment where our free enterprise, market-driven system puts money into the American people’s pocket rather than Washington standing there with its hand out taking money out of their pockets, and that is just what the Tax Cuts & Jobs Act did.”

Rep. Warren Davidson

“Good news is out there. It is hard to find sometimes on the news, but tax reform, the Tax Cuts & Jobs Act is all about good news.

“What is astonishing is the Tax Cuts & Jobs Act was already having an impact even before it became law. The hope of the cuts that were to come were causing our economy to grow at nearly double the rate that it was under the previous administration.

“And now we have seen deeds, not just words. We have seen actions transform the idea of tax cuts into enacted tax cuts, things that have transformed the expectation of 2 percent growth, the path that had our economy stagnating, take-home pay stagnating, and no hope for the growth that our parents once knew to be part of the American future.

“Today, we are seeing 3 percent growth. We may even see more than 4 percent growth in this quarter. The experts said this wasn’t going to happen and, instead, what we have seen is the power of ideas, the power of those ideas becoming law, and now we are seeing that show up in our economy.

“What does that mean for families in Ohio? Hardworking families are getting more home take-home pay. They are creating more opportunities. The ability to change jobs and find a better paying one with better benefits is out there because everyone I am talking to is hiring.

“This is great news for Ohio, a state that just a short time ago was reeling from over 400,000 jobs lost, a fleeting economy, and a state savings account that was raided to just 89 cents left in Ohio’s treasury.

“Today, Ohio’s manufacturers are hiring. In fact, nearly every company that I have met with is hiring, and their problem is they can’t hire fast enough. They are looking for more good workers, and this is creating better opportunities for hardworking Ohioans and better opportunities for American companies. Because we didn’t just cut taxes, we reformed taxes, and we made changes that make it so companies are investing in Ohio, in America again, and this is creating these jobs.

“Places like Staub Manufacturing Solutions have seen an uptick in sales, employment, and optimism. They have grown their team from 23 to 37 employees over the last year, and they recently expanded by acquiring a new building.

“Hartzler Propeller in Troy, Ohio, is experiencing the same optimism and continues to grow and invest in the future of their employees and their investment in Ohio.

“How does this happen?

“The framework has to be right. It is not more government or less government; it is the right kind of government. It is the kind of government that has made America the world’s land of opportunity.

“America has always attracted the best goods, services, capital, ideas, and people that flow freely and flourish here in America because we have the certainty of a good regulatory framework, not an excessive, burdensome regulatory framework. We have seen that burden lifted, and we have seen it complemented by strong tax reform, important tax cuts, and we have seen the result is more jobs, more than a million created in the six months since this bill became law.

“The Tax Cuts & Jobs Act is a constructive policy for jobs, for prosperity, and for a promising economy.”

Rep. Steve Stivers

“Mr. Speaker, the numbers don’t lie. Tax reform is growing our economy and providing more opportunities for all Americans. It has been just over six months since the Tax Cuts & Jobs Act was signed into law, and we are already seeing results.

“First and foremost, our economy is growing at nearly 4 percent, a remarkable number, despite the Congressional Budget Office’s pessimistic prediction of only 1.9 percent growth.

“When I started in Congress in 2011, unemployment was 9 percent. Due largely to our tax reform and regulatory reform, our business community is now creating jobs. Unemployment has fallen to 3.8 percent, according to the Bureau of Labor Statistics, an 18- year low.

“Moreover, not only are businesses hiring, but they are reinvesting in their employees. They are giving Americans more money in their pocket. In fact, 4 million workers and counting have received bonuses and seen more money sent to their 401(k)s, and 90 percent of Americans have more money in their paychecks as a result of tax reform.  I am seeing the benefits across my district, with companies such as Nationwide Insurance, R+L Carriers, eCycle, and Fifth Third Bank giving bonuses, pay raises, and raising contributions to retirement.

“These benefits are real and make a tangible difference for hardworking families in the 15th District and it has given them an opportunity to reinvest in their future.

“The economy is booming, and people are noticing. Consumer confidence is at an 18-year high. We are seeing wage growth, a pay raise for the American worker, for many of them for the first time in 10 years.

“We were also told that the tax bill would hurt the housing market; however, home prices are surging. According to the S&P, the home price index has increased 6.5 percent.

“The statistics and stories go on and on, but, Mr. Speaker, you just can’t deny the numbers. Tax reform is working for the 15th District, it is working for the State of Ohio, and it is working for America.

“What I have heard from some of my constituents: Carolyn in Grover City, who is a budding entrepreneur, is using her tax cut to start a small business. Tamela in Amanda says that it just helps her breathe easier having a little extra money in her pocket, knowing that the government is taking a little bit smaller bite. She has got a little bit more money to make things balance.

“It has only been six months since the Tax Cuts & Jobs Act took effect, and I look forward to seeing how Ohioans and Americans continue to benefit.”

Rep. Bob Latta

“My district is unique as it has 60,000 manufacturing jobs, and I’ve done scores of meetings across my district since the passage of this tax bill. I keep hearing from folks back home, especially when I’m going into factories and businesses, that they’re doing things – they’re hiring people, they’re increasing wages, they’re giving bonuses, they’re buying new equipment…This is something that is going on across the entire economy, so it’s very, very good news for folks not only in my district, but across the country.”

Full Recap

Rep. Jim Renacci

“As a CPA, a businessman for 30 years, and a member of the Ways and Means Committee, reforming the old tax code was a top priority of mine. I know lower taxes grow our economy, create jobs, and increase paychecks.

“Today, almost six months after the enactment of tax reform, over 40 Ohio businesses have already announced bonuses, increased pay, improved benefits, and plans to give more to charity.

“In the 16th district of Ohio, the average family of four is experiencing a tax cut of nearly two thousand dollars. That’s real money. Before President Trump came into office, our sluggish economy was exacerbated by high federal taxes. The harsh conditions seemed unrelenting for working families all too familiar with having to survive on a very tight budget.

“But thanks to the leadership of President Trump and his commitment to tax reform, I hear new stories every day of how my constituents are doing better under the new law. Just last week, I spoke to Doug Sibila, President, and CEO of Peoples Services, Inc., whos seven state operation is led out of Canton, Ohio. In recent months Peoples Services has raised pay, handed out bonuses, hired more people, and nearly doubled capital investment. All while increasing sales and margins. Stories like that of Doug and his employees are shaping the legacy of tax reform, and that’s a legacy I’m glad to have played a part in.”