Expressing Support for Tax Policies That Support Working Families

Floor Speech

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Mr. KELLY of Pennsylvania. Mr. Speaker, I thank the chairman for yielding.

Mr. Speaker, now, for the first time, families across the country are seeing the working families tax cuts show up where it matters: in their paychecks and in refunds.

When this law was written, the goal was straightforward--to reward work, support families, and prevent a massive tax increase from taking place.

Today, the data shows it is doing just that. Across America, more than 53 million filers claimed at least one of the new deductions. Over 25 million taxpayers claimed the overtime deduction. More than 6 million Americans claimed the deduction on tipped income. More than 30 million seniors paid no taxes on their Social Security benefits. More than 1 million Americans claimed the no tax on car loan interest deduction.

That is real relief tied directly to how Americans earn a living, and you can see it in the results. The average tax refund is now over $3,400. That is an 11 percent increase from last year. Families are getting to keep more of their own hard-earned money.

More than 34 million families have claimed the enhanced, doubled, and permanent child tax credit. Five million Trump accounts have been opened. Think about what that means for the next generation. The working families tax cuts provides families and children a foundation to save, invest, and pursue their version of the American Dream.

Now, let's talk about Main Street. Before serving in Congress, I spent my career in the private sector as a car dealership owner. I know what it is like to try and manage your business and meet payroll while making sure Washington gets its share, as well.

My district is home to one of the highest concentrations of small manufacturers. These manufacturers are aiding President Trump in his goal of employing American workers, producing right here at home, and buying American.

Revitalizing the industrial might of the United States cannot happen without the working families tax cuts restoring immediate expensing for equipment and research and development.

The working families tax cuts also made the 20 percent small business deduction permanent, providing certainty and stability for the mom-and- pop shops who form the backbone of our communities.

In total, more than 12 million small business owners will see an average of $7,000 in tax relief.

There were times when our family business would have enough money to make payroll, but not enough money to pay ourselves. That is the reality so many businesses face. Small business owners go through that more than anybody else realizes. These are the real dollars that can be reinvested into workers, equipment, or expansion.

From employers to employees, from children to seniors, this law is reaching across the entire country and the entire economy.

People who do not ask for special treatment but only ask for fairness, this law reflects that expectation. It aligns the tax code with how Americans actually earn a living. It prevented a tax increase. It guarantees stability and certainty, and it gave families and businesses the opportunity to keep more of their own money.

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