Expressing Support for Tax Policies That Support Working Families

Floor Speech

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Mr. SMITH of Nebraska. Mr. Speaker, tax day is usually a very painful reminder of how much of one's hard-earned money goes out the door. Today would have been no different from the past if Democrats had gotten their way and if Republicans had failed to pass the Working Families Tax Cuts Act.

Take my district, for example, where a typical family of four's taxes would have increased by 26 percent, costing them more than $1,300 a year. For most families, $1,300 is not chump change. It is rent, a home improvement project, or even about 7 weeks' worth of groceries. However, today is different. The more thoughtful approach Republicans took prevailed.

This year, Americans are seeing bigger paychecks, larger refunds, and more opportunities for them and their families to build long-term financial security.

Now, the same family of four with two kids earning up to $73,000 a year who would have seen a 26 percent increase will have no Federal income tax liability and will have their child tax credit permanently increased to $2,200 per child. The relief does not stop there, with the average tax refund being nearly $3,500 and an additional $6,000 standard deduction for America's seniors.

We also strengthened America's agriculture industry by permanently doubling death tax relief and allowing producers to fully deduct new equipment costs, helping family operations innovate and continue for generations to come.

This is what real tax relief looks like, and it is exactly what Republicans will continue fighting for here in Washington.

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