Tax Reform Truth Tellers

Floor Speech

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Mr. VALADAO. Mr. Speaker, I appreciate the opportunity to talk about something that is so important.

We always talk about the different things we can do in Congress to help our constituents. Something I spend a lot of time on is water. It is very important to help my local community survive, it is obviously important for agriculture, but it is very important for those who live and breathe in the Central Valley. Delivering water to their homes is something that some of us outside of the area might not see threatened, but in the Central Valley, it is something we do see.

But tax reform is something that has a real impact on people every single day. The Central Valley happens to be what I would say, and I think a lot of people would agree, some of the hardest working people in the United States.

When you drive throughout the Central Valley and you see people out in the fields working really hard in some of the warmest weather, some of the hottest weather, it has a real impact on people; and giving these people an opportunity to be able to keep more of their money is something I think is very important.

While I don't know if this coming week people will see a simplified system, because it hasn't taken effect yet, I know that people who work really hard throughout the Central Valley are already starting to see an increase in their paychecks. I have heard it myself as I have gone around the district talking to constituents; people stopping me in the grocery store bringing up the fact that they are already seeing things in their paychecks. I have even had employers tell me that their employees walked up to them and talked a little bit about the difference they are seeing.

The Central Valley is an area that needs this more than a lot of other areas. When you look at the median income, Central Valley, or at least the 21st Congressional District, is about $40,000. So when you talk about doubling the standard deduction--before this tax plan went into place, about 83 percent of the people filed the standard deduction. Now, with doubling that standard deduction, you are going to see upwards of 90 to 95 percent of people filing the standard deduction.

What does that mean? That means, in the past, people only keep about $12,000 of their first income tax-free. Now they are going to go forward and have the opportunity to earn $24,000 without being taxed. So the first $24,000 isn't going to be touched, and that is impressive.

Then, throughout the Central Valley, a lot of folks, with their children, having families, something that, myself, with three kids, something I am very proud of, we are doubling the child tax credit. We are going from $1,000 to $2,000. That is going to have an impact on about 64,000 people in the 21st Congressional District.

Twenty-five thousand constituents own small businesses. This new law will help them grow their businesses and help them be more successful. In fact, some economists say that this new law will help create about 111,000 jobs in the State of California.

This tax bill is going to have a positive impact throughout the 21st Congressional District. We are already starting to see it now, and we are going to see it going forward.

As this new bill takes effect, people throughout the 21st Congressional District will see an annual tax savings of about $1,300, almost $1,400. This is real relief for people; and no matter what anyone else goes out and says, this is not peanuts. This is not a small amount.

$1,400 has a real impact on people being able to buy groceries; being able to save for their kids' education; being able to keep their families comfortable, if it is running the air conditioner or keeping the house comfortable. These are all things that have a real impact on people's everyday lives, so I am thrilled to be able to come here and talk a little bit about the positive impact that we are having throughout the 21st, and I am looking forward to seeing how much more we do.

Mr. Speaker, I thank the gentlewoman, my friend from southern California, for the opportunity to be here and play a role in this.

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