Tax Reform Puts Money Back in the Pockets of Hard-Working Americans
‘By lowering the tax burden on companies large and small, America turned on a bright neon sign that’s telling the world we’re open for business. Democrats want to unplug it. By lowering middle-class rates and expanding deductions, we gave families all across the country more breathing room to save or pay their bills. Democrats want to claw that money back. Fortunately for the American people, Republicans in the House, the Senate, and the White House won’t let them take your tax relief, your lowe
WASHINGTON, D.C. – U.S. Senate Majority Leader Mitch McConnell (R-KY) delivered the following remarks today on the Senate floor regarding the benefits Americans across the country continue to see from tax reform:
“As I’ve discussed, a number of America’s largest employers are already reinvesting their tax reform savings in bonuses, pay raises, and new benefits for their employees. Higher take-home pay and lower tax rates are helping families cover today’s expenses and save for the future.
“In Nebraska, the Lincoln Journal-Star reports that hometown companies, Nelnet and Pinnacle Bank, have awarded tax reform bonuses to thousands of workers. In Iowa, the Des Moines Register reports utilities will pass along $147 million in tax reform savings to customers. And Acadia Healthcare, with operations in my home state of Kentucky, announced that tax reform will enable it to build additional facilities on the front lines of the opioid epidemic.
“This week, Vice President Pence has been on the road, hearing how tax reform is changing Americans’ lives and livelihoods for the better. He visited all three of those states, listening to workers and small business owners. It’s interesting, though. The huge number of early tax reform success stories aren’t getting the applause they deserve from across the aisle.
“Every one of my Democratic colleagues in the House and the Senate made the political calculation to vote along party lines and try to sink tax reform. Every one of them. Fortunately, those efforts failed. But even with tax reform now the law of the land, it seems my Democratic friends are so unwilling to admit their mistake that they’d rather try to sabotage the law that is already helping families and making American job creators more competitive.
“Just yesterday, Senate Democrats announced they’d like to spend a trillion dollars of taxpayer money – and they want to roll back Americans’ brand-new tax cuts while they’re at it. There they go again. Tax more. Spend more. Take money away from American families and give it to the federal government. This is a familiar refrain from our Democratic friends.
“Even amidst this tidal wave of good news from tax reform. Even in the face of higher take-home pay, new jobs, new investments, raises, worker bonuses, and foreign competitors like China getting nervous. Democrats can’t help themselves. They can’t resist turning back to their old, top-down, tax-and-spend playbook.
“By lowering the tax burden on companies large and small, America turned on a bright neon sign that’s telling the world we’re open for business. Democrats want to unplug it. By lowering middle-class rates and expanding deductions, we gave families all across the country more breathing room to save or pay their bills. Democrats want to claw that money back.
“Fortunately for the American people, Republicans in the House, the Senate, and the White House won’t let them take your tax relief, your lower utility rates, your bonuses or your new opportunities. We’re proud that we took money out of Washington’s pocket and put it back in the pockets of hard-working Americans. And that’s exactly where it will stay.”
Related Issues: Taxes, Economy, Tax Reform
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