Hey, what was it again that Democrats were saying about tax reform? Oh, yeah. On top of it being the worst bill in history (really?) and the literal apocalypse, Democrats have been consistently saying things like:
First of all, House Republicans have no plans to cut Medicare, Medicaid, or Social Security, and anyone telling you they do is lying to you. While Democrats want to overextend them and jeopardize the programs’ futures, House Republicans have actually led on several reforms to strengthen these programs and ensure they’re available to people who need them for years to come.
Now, back to tax reform. Since the Tax Cuts & Jobs Act was first introduced, Democrats have been repeating the myth that tax reform only helps ‘the rich’ at the expense of lower-income families.
If their definition of ‘the rich’ includes 90 percent of America, then sure. They were ‘right.’ But we’re going to guess that’s NOT what they had in mind.
The truth is: tax reform has had a tremendously positive impact on this country. Our economy is booming. We have a historically low 3.7 percent unemployment rate. There are more than 7 million job openings — more jobs than people to fill them! Historically underserved communities are seeing new opportunities. And people are feeling hopeful again.
While 90 percent of Americans are feeling the difference in their paychecks, the benefits overall are primarily felt by the middle class and low-income workers. Here are three reasons:
- Bigger Paychecks. More than 4 million U.S. workers (and counting) have seen bonuses, wage increases, or expanded benefits. Americans’ real disposable personal income grew at 3.5 percent for the first half of 2018.
- Fairer Taxes. Because of a larger standard deduction, doubled child tax credit, and lower tax rates across the board, American workers and families get to keep more of their hard-earned dollars. More than $1.1 trillion in tax relief from the Tax Cuts & Jobs Act goes directly to families and small businesses.
- More Jobs. Thanks to tax reform, companies and small businesses have the flexibility needed to expand and hire more workers. Since the Tax Cuts & Jobs Act became law, 1.8 million jobs have been created. Manufacturers are highly optimistic about the future, and Americans feel now is the best time to find a quality job.
For our colleagues across the aisle concerned about the wealthiest Americans paying their ‘fair share’ in taxes, we’re surprised they didn’t support the Tax Cuts & Jobs Act. By eliminating and streamlining tax deductions for a much simpler tax code, tax reform has actually made that happen.
House Republicans want every American, no matter their background or walk of life, to have the opportunity to pursue their dreams. By overhauling our tax code and improving regulations, Republican policies have helped make that a reality. To learn more, visit Better.gop.