New research from The Heritage Foundation shows that the average American household can expect about $26,000 more in take-home pay over the next 10 years thanks to the tax reform that Republicans passed last year. Typical taxpayers in every congressional district will see a tax cut in 2018.
Americans with children will benefit tremendously from the Tax Cuts and Jobs Act. An average married couple filing jointly with two children will see their tax bills fall by $2,917 when they file their 2018 taxes.
The tax cuts have much larger effects than just letting Americans keep more of their money. Since tax reform passed, more than 700 companies have announced more jobs, more bonuses, higher wages,charitable giving, and new investments in the U.S. One hundred sixty-four companies have gone on record stating they gave bonuses and pay raises to employees because of the new tax reform law.
Businesses are in the midst of the longest-running trend of adding jobs to the U.S. economy in our history. Tax cuts will continue to raise wages, increase investment, and expand economic opportunities.
Unfortunately, Democrats in Congress are determined to repeal the tax cuts if they win control of Congress in November. Democrats falsely claim that the tax cuts are "crumbs" that only benefit the rich.
The Washington Post fact-checker gave Democrats four Pinocchios saying, "Senate Democrats falsely claim GOP tax plan will raise taxes for most working-class families."
Republican tax cuts benefited everyone. Vote Republican in November.