Companies across the country are passing the benefits of America’s new tax code on to employees and consumers. Since the Tax Cuts and Jobs Act was signed into law:
- More than 100 employers have announced they are increasing wages, delivering bonuses, extending maternity and paternity leave, and increasing 401(k) contributions;
- Gas and electric companies announced they are reducing costs for customers;
- The Treasury Department announced 9 out of 10 taxpayers will see a boost in their take-home pay as soon as next month.
What do those three big changes mean for the hardworking American who struggled to get by under the nation’s unfair and broken tax code? As House Ways and Means Committee Chairman and lead author of the Tax Cuts and Jobs Act Kevin Brady said this week:
“Think about that … you got a mom or dad working hourly at Walmart, in Baltimore or Cleveland, not only going to receive higher paychecks but they’re going to come home to lower utility bills because of tax reform. … And soon, [they] are going to be able to have more take-home pay.”
Chairman Brady added:
“The American people work hard to earn their paychecks and support their families. Finally, they have a tax code that allows them to keep more of their money to use as they see fit. This is just one of many ways the Tax Cuts and Jobs Act will improve lives in our nation – and it’s only the beginning. As each new part of the law takes effect, families will see more of the benefits. That means a stronger economy with more jobs, fairer taxes, and bigger paychecks for Texans and hardworking taxpayers nationwide.”
CLICK HERE to learn more about the Tax Cuts and Jobs Act.
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