Weekly Update: A story you need to hear
â€‹By Rob Wittman
â€‹February 10, 2018
Itâ€™s February, which means that it has been over a month since the Tax Cuts and Jobs Act has taken effect. Ninety percent of Americans are going to see more in their paychecks and over $3 billion in bonuses have gone out to American workers. Americans are seeing lower taxes, bigger bonuses, higher wages, and better investments in the future. Companies like ExxonMobil and Apple are putting more of their dollars back in the United States and creating thousands more jobs. The Tax Cuts and Jobs Act is already benefiting families and consumers in a positive way.
Just like we promised, the Tax Cuts and Jobs Act is resulting in bigger paychecks that are allowing to Virginians to keep more of their hard-earned money. Constituents like Kevin from Mechanicsville are writing in to my office saying how tax reform is making a different in their lives:
How has tax reform benefited you? If you have a story like Kevin's to share, let me know!
Itâ€™s not just individuals seeing savings from tax reform. I have been traveling across the First District listening to how tax reform has affected our businesses. This legislation has given our businesses the break they need to invest in their business, hire more workers, and contribute to our growing economy.
Cornerstone Moving and Storage in Fredericksburg says the GOP tax reform has enabled them to better serve their customers, higher more drivers, and expand their business. Click here or below to hear their story.
Toyota in Mechanicville says that, â€śthe tax cut alone will help them grow their business, and when we grow our business, our employees share in that profit.â€ť Expanding their business means more money in their employeeâ€™s paychecks and an even better local economy. Click here or below to hear their story.
Finally, three million workers (and counting) are already seeing the benefits of this historic tax cuts bill with businesses across the country that are now giving bonuses, pay raises, and new investments that will get our economy back on track. You donâ€™t have to look far and wide to find Americans who are reaping these benefits. Locally, Stafford Bounce n Play, LLC is giving $1,000 in mid-year bonuses for all employees. â€śSBNP LLC is a Pass-through business. The Tax Cuts and Jobs Act gives pass-through businesses like ours an additional 20% deduction from our income,â€ť said Nicholas and Nadia Bluma of Stafford Bounce n Play, LLC.
Tax reform was long overdue. I am happy that Virginians are keeping more of their hard-earned money, and can invest more into their own families and futures. This is just the beginning of the many great days of American economic prosperity.