04/15/2019 | Press release | Distributed by Public on 04/15/2019 13:51
Bigger Paychecks and A Booming Economy Thanks to GOP Tax Cuts
RNC Chairwoman Ronna McDaniel
April 15, 2019
'Tax day has long been the worst day of the year for American taxpayers, bringing us face-to-face with the reality that our government takes too much of our hard-earned money. However, thanks to the Trump administration's historic Tax Cuts and Jobs Act, tax day has become less of a burden - and a good time to reflect on how much more of our own money we get to keep in our wallets.
The tax bill doubled the standard deduction, which saves taxpayers $5 billion each year. It doubled the child tax credit, which means nearly $104 billion in savings for working parents. It cut the corporate tax rate, empowering businesses to grow and create more jobs.
The tax bill has also sparked major investments in the communities that need it the most through the President's Opportunity Zones initiative. Most of the nearly 9,000 Opportunity Zones are considered 'severely distressed,' with poverty rates nearly twice the national average. The majority of those affected are minorities, which means increased local investment will lift up close to 1.5 million minority households.
And yet, not a single Democrat voted for tax cuts for their constituents. Not a single one put aside their hatred for our President to defend the interests of the American people. Not a single one wants to admit that individuals - not the government - know how to best spend their own money.
American voters know better. We see just how much our economy has grown under President Trump's policies. We see how much tax cuts have helped our families, businesses and communities. We stand by this administration and Republicans in Congress, because they stood by us and fulfilled their promise to ease our tax burden. And this year, we celebrate tax day because we finally get to keep more of what we have worked so hard to earn.'
Click here to read more.Budget and SpendingTaxes