Roy Blunt, US Senator for Missouri
a little over a month since President Trump signed the pro-growth Tax
Cuts and Jobs Act [link 1] into law, marking the most significant
changes to our country's tax code since 1986. Americans didn't have to
wait long to see the benefits.
Thanks to the Tax Cuts and Jobs Act,
more than 250 U.S. companies [link 2] (and counting) have recently
announced major new investments. More than three million Americans are
receiving wage increases, bonuses, or enhanced benefits. Other major
employers are planning to invest billions in our economy, building new
facilities, creating more jobs, and fueling stronger growth. I've been
particularly glad to see companies large and small putting their tax
savings toward charitable contributions. Boeing [link 3], for example, is
allocating $100 million toward charitable giving, $100 million toward
infrastructure enhancements, and $100 million toward workforce
Here's how tax reform is already paying off for thousands of
hardworking Missourians [link 4]:
Kansas City Southern [link 5]
employees received a $1,000 bonus.
Southwest Airlines [link
6] gave a $1,000 bonus to its 1,100 Missouri workers.
[link 7], our state's top employer, announced bonuses, wage increases,
and expanded benefits that will impact 27,500 Missourians.
Great Southern Bancorp, Inc. [link 8] gave $1,000 in cash to all
full-time employees and $500 to part-time workers.
There's even more good
news ahead. As early as this month, Missourians will see how much more
of their hard-earned paycheck they'll be taking home iwth the new tax
cuts in effect.
By nearly doubling the standard deduction,
doubling the child tax credit, and lowering tax rates, Missouri families
will be able to keep more of what they earn instead of sending it to the
IRS. And, by increasing U.S. competitiveness and giving small
businesses the opportunity they need to reinvest and expand, the new tax code
creates a foundation for more jobs with higher wages in the future. No
wonder the National Federation of Independent Business [link 9]
reported small business optimism was at an all-time high at the end of last
I've heard from Missourians all over the state who have
been positively affected by our new tax codoe. If you have a story to
add, I'd like to hear it. You can share your story here [link 10].
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