Benefits of One Big, Beautiful Bill

Floor Speech

BREAK IN TRANSCRIPT

Mr. KENNEDY of Utah. Mr. Speaker, today, I rise to recognize some of the impacts the One Big Beautiful Bill Act will have on my State.

By passing the One Big Beautiful Bill Act, the House Republican majority kept its promise to preserve the 2017 tax cuts and provided further relief for American families.

The White House's Council of Economic Advisers estimates the bill will raise Utah wages between $4,300 and $7,700 over the next 4 years, putting more money in the pockets of our hardworking Americans. Typical families with two children can also expect to see higher take-home pay in the range of $7,900 to $11,400.

Utah is one of the fastest-growing States in the Nation and has the highest average household size. The One Big Beautiful Bill Act increases the child tax credit to $2,200, which will help our Utah families as they continue to grow. Without the bill's passage, the child tax credit would have dropped to just $1,000 per child. I am glad this bill invests in the future of our families, not just in Utah but all over the country.

The One Big Beautiful Bill Act also helps hardworking Americans by cutting taxes on overtime pay. Around 22 percent of all employees in Utah regularly work overtime and could benefit from this tax break.

The bill also cuts taxes on tips. Whether you are a waitress earning tips or a nurse working overtime, this legislation will make sure that your hard-earned money stays where it belongs: in your pocket.

The legislation also benefits those who give to charitable causes, including tithes or religious contributions, allowing individuals who do not itemize their deductions to claim charitable deductions.

The One Big Beautiful Bill Act delivers historic tax relief for seniors. This legislation ensures that nearly 90 percent of Social Security beneficiaries will no longer pay Federal income taxes on their benefits.

In Utah alone, around 400,000 seniors could benefit from the no taxes on Social Security provision of this bill. Our seniors have spent their lifetimes contributing to our Nation's economy, and House Republicans are glad to provide them relief through this bill.

The One Big Beautiful Bill Act will also help Utahns in ways beyond tax credits. It will help rural Utah by boosting Utah's energy sector due to provisions slashing the bureaucratic red tape associated with permitting delays and by restarting oil, gas, and coal leases. This will create thousands of jobs in Utah.

The One Big Beautiful Bill Act also helps Utahns by reauthorizing the Radiation Exposure Compensation Act, also known as RECA, for another 2 years following its expiration last year. RECA authorization will compensate Utahns who were exposed to radiation after the aboveground atomic testing at the Nevada Test Site. It will also extend compensation to uranium miners and expand eligibility for downwinders across the State of Utah. This will help relieve burdens for Utahns who were harmed during active nuclear weapons testing.

The bill will provide funding for technological advancement for our military and enhance the quality of life for our military personnel by allocating up to $7.4 billion in benefits for servicemembers across the country.

Under this bill, the budget will provide for restoration and renovation of barracks, more funding for the Defense Health Program, aid to military families by adding to the childcare fee assistance, and bonuses for members of the military.

This policy reflects our commitment to honoring the sacrifices of our military by investing directly in servicemembers and the infrastructure that supports their well-being. It demonstrates our commitment to putting America first by ensuring our servicemen and -women in Utah and across the world receive the care and support they deserve.

This legislation is designed to put hardworking Americans, families, and small businesses first, including my constituents in Utah's Third District. By passing this bill, Republicans have delivered on the promises we made to the American people.

BREAK IN TRANSCRIPT

Mr. KENNEDY of Utah.

BREAK IN TRANSCRIPT

Source