What tax reform means for Alabama

Mar 20, 2018 | Communications •

In Alabama, the Tax Cuts & Jobs Act is helping families, workers, and small business owners get ahead, when for too long the tax code barely let them get by.

Pro-family, pro-growth tax reform means more flexibility and opportunities for the 90 percent of Americans who are getting more take-home pay. It means saving for a rainy day, paying off tuition, even taking that long-overdue family vacation.

To share what these “crumbs” mean for Alabama, Reps. Gary Palmer and Mike Rogers took to the House floor with stories from home. Check it out ↓

For more on tax reform and a NEW interactive map illustrating the businesses offering bonuses and benefits, visit FairandSimple.gop


REP. GARY PALMER:

“Mr. Speaker, I rise today to highlight the impact that the Tax Cuts and Jobs Act is having in Alabama’s Sixth Congressional District. Millions of Americans across the country are now reaping the benefits of tax reform in the form of higher paychecks, and my district is no exception. I would like to give just a few examples of how my constituents are using the additional money to benefit their families.

“One woman from Mountain Brook noted that her employer was paying out bonuses of $1,000 as a result of the Tax Cuts and Jobs Act and that she will deposit that money in her health savings account.

“Another woman from Trussville talked about how the savings would help with tuition payments for her two college-age daughters. The ability to help with tuition payments was a common theme among my constituents.

“Another gentleman from Birmingham noted that his family used their larger paychecks to help pay for college and have placed additional money in savings.

“A man from Hoover shared that he was able to make additional payments toward his mortgage principal, increase the amount he was contributing to his 401(k), and was able to take his wife out to dinner and a movie. It seems the Tax Cuts and Jobs Acts may be having an additional benefit for marriages in a way we hadn’t considered.

“Finally, another gentleman from my district noted, and I would like to quote him here: ‘We now have an additional $250 a month thanks to the tax plan. We love the crumbs.’

“That was the same message I got from a lady in our church who received a $1,000 bonus from her company.

“These are just a few of the numerous examples of the individuals and families in my district that continue to benefit from the Tax Cuts and Jobs Act. But the benefits don’t stop there. Regions Bank, which is headquartered in Birmingham, recently announced that they would be making a range of investments as a result of the tax cuts, including raising the minimum hourly wage in their branches to $15 per hour, and that is without a government mandate. They are also contributing $40 million to the company’s charitable foundation and increasing their capital expenditures budget by $100 million in 2018.

“It is not just the big companies that are doing this. Smaller businesses are getting in on the act as well. One small business in my district, Wadsworth Oil, sent a note along with their employees’ paycheck letting them know that, as a result of the Tax Cuts and Jobs Act, they would be getting cumulatively $22,000 in bonuses.

“Despite fierce opposition from those who wanted to maintain the broken status quo, Republicans in both Houses of Congress were able to deliver a significant win for the American people. Going forward, we must maintain this momentum and continue to enact policies that strengthen our economy, create jobs, and increase the pay and benefits for American workers.”


REP. MIKE ROGERS:

“Mr. Speaker, I rise to highlight the impact of the Tax Cuts and Jobs Act is having in east Alabama and across America. After working under an outdated Tax Code for over 30 years, businesses and families from the Third District of Alabama and the entire country are feeling some relief. From bigger paychecks to bonuses and raises, many companies in the U.S. have already distributed over $4 billion in bonuses.

“In my district, Russell Lands in Alexander City distributed $500 bonuses to each of their 500 employees as a direct result of the tax overhaul.

“Three companies in Columbus, Georgia, which is right across the state line from my district, have already rewarded their employees because of tax reform, including, as you have heard earlier, Aflac, Synovus Financial, and Total System Services. This is putting more money back in the pockets of some of my constituents right across the State line in Russell County.

“Regions Bank and Protective Life in Birmingham, Alabama; Cogent Building Group in Point Clear, Alabama; Overseas Hardwoods in Stockton, Alabama; and DTI and Xante in Mobile are other companies across our great State that have been giving bonuses to their employees.

“I am proud of Ben Russell of Russell Lands and the other companies I mentioned leading the way on this important front. Because of the tax reform, over 4 million workers have already received a bonus or a pay increase across our great country.

“These bigger paychecks and bonuses can help families save for their kids’ school or help pay for a new household appliance. It helps with making a car payment or paying off student debt. This extra money represents opportunity. At a time when every penny counts, I am proud to see tax reform is giving hardworking Americans more money to take home to their families.”