National Defense Authorization Act for Fiscal Year 2019
Floor Speech
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Mr. BARRASSO. Thank you, Madam President. As the Presiding Officer well knows, last December, Republicans voted to cut the taxes that American families pay. We simplified the tax system. We made it fairer and cut the rates.
Every single Democrat in the Senate voted against giving Americans this tax relief that they needed--every single one of them. Democrats claimed that only rich people would benefit and that businesses would never share their savings with workers. The Democratic Leader, Senator Schumer, actually said that tax cuts such as these only benefit the wealthy and the powerful, to the exclusion of the middle class.
So what happened? What have we seen all across America? The American people know that the Democrats were wrong. The very day the tax bill passed the Congress, AT&T came out and said they were giving their workers a bonus. The company said that 200,000 hard-working employees were going to get an extra $1,000 each directly because of the tax relief law. Over the next few weeks, more than 4 million Americans got similar good news: They were going to get bonuses too. They learned that they would be getting a bonus or a pay increase because of the tax law.
More than 500 companies have said that because their taxes went down, they were sharing the savings with their workers. In my home State of Wyoming, these are people who work at places like Home Depot, Lowe's, Walmart, and Starbucks. It is also people who work at small businesses, like Taco John's and the Jonah Bank in Casper, WY. It is people who work at the Bockman Group in Sheridan, WY. That is a local business that specializes in fencing and excavation. I had a chance to meet with all of those people. They said the employees would be getting raises for one reason, and that is because of the tax law. The owner actually said that with this tax cut, he would now move ahead with starting two new businesses this year, employing more people. That means more jobs and more economic opportunities for people in northeast Wyoming.
Another thing that we had a chance to talk about when the tax law was passed was how this would affect people's utility bills. It started happening right away. Americans noted that their utility bills starting going down. There are more than 100 utility companies across the country that have cut the rates they charge for electricity as a direct result of the tax law. And it is not just electricity; it is gas bills, water bills, all of the above.
Look at the number. One hundred and two utilities cut their rates across the country. How much money does that add up to? How much money did people actually save because bills are going down for families all across the country because of the Republican tax cuts? The tax rate cuts amount to a savings of $3 billion for American families who are paying less money for utilities. That is an incredible savings for American families.
Democrats said the companies would keep their tax savings. Instead, the savings are being passed along to consumers. That is the way it was supposed to work, that is the way it did work, and the benefit for families across the country amounts to $3 billion in lower utility rates.
Americans are starting to use more energy right now to keep their homes cool this summer. It is that time of the year. These rate cuts are very good news for families all across the country. When monthly bills get cut, they have more money to save, spend, and invest. It is their money, so they get to make those decisions on how they want to use it. That is what happens when we change the tax laws. Washington gets less, and taxpayers get to keep more.
Republicans cut taxes. Working Americans are seeing more money in their own pockets as a result. I hear about it every weekend in Wyoming. People are saying that this tax law has made a specific difference in their lives--their personal lives, for them, their families, and their children. They see it with their neighbors as well. They get more money from their jobs, they pay less in taxes, and they pay less for things, such as utility bills.
People are winning in three different ways because of the Republican tax relief law. A lot of people are seeing more good jobs now than ever before. The numbers came out last week. People collecting unemployment insurance is at a 44-year low. They don't need the unemployment benefits because they are working. We haven't seen numbers this low since 1973. It is a sign that we have a very strong, healthy, and a growing economy. People are keeping their jobs or getting new and better jobs. If people get laid off or want to change jobs, they can get a new one right away. They don't need to go on unemployment. They don't need to collect unemployment insurance because we have a strong, healthy, and growing economy right now.
The Labor Department said that there are now 6.7 million job openings across the country. That is an alltime high. For the first time ever, there are actually more job openings than there are unemployed people who are looking for work--6.7 million openings, 6.3 million job hunters. So when looking at some of these measures, the American economy isn't just stronger than it was before the recession, it is stronger than it has been in decades.
The Federal Reserve Bank of Atlanta says that we are on a pace for the economy to grow more than 4 percent in the second quarter of this year. They actually say it may be as high as 4.6 percent. It is astonishing.
The American people don't need an economist to tell them what they see with their own two eyes in their own communities. They see that the economy as strong, the economy is healthy, and the economy is growing. All they need to do is look around their hometown, talk to their neighbors, talk to their friends, see how people who might have been out of work now have jobs and job opportunities. They are paying less in taxes, keeping more of their hard-earned money, and they are seeing it in their paychecks. The proof is in the paycheck.
I expect to see it again at home in Wyoming this weekend. Businesses are hiring, workers are getting bonuses, raises, more money in their pockets, more money in their paychecks. People across America are feeling better about their opportunities. The opportunities are there. They are real. They are being grasped by people all around the country. There is confidence. There is an optimism we haven't had previously. There is a positiveness in people's lives, and it is happening because of the policies Republicans are implementing in Congress and in the White House, in this partnership between a President and a Congress committed to cutting taxes, to slashing regulations, to letting people keep more of their hard-earned money. We have no intention of stopping now.
Democrats are continuing to look for ways to slow things down, to block the progress, and to change the subject. They don't want to talk about any of these things. Republicans are looking for ways to keep America growing and to keep America strong. That is what Republicans in Congress are committed to doing.
The American people expect us to keep going, to keep looking for ways to make America better, stronger, and safer. It is what the American people expect from us, and it is exactly what Republicans are going to continue to do.
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