Ron Estes: “I thank my friend from Texas, appreciate all of that information, talking about the positive impact that is happening…”

“I thank my friend from Texas, appreciate all of that information, talking about the positive impact that is happening all across America with the Tax Cuts and Jobs Act. When we talk about are you really better off now, the Tax Cuts and Jobs Act is one of those great examples of something that has been accomplished over the last 2 years. The act itself just helped jump-start our economy. It repealed the ObamaCare individual mandate penalty. The standard deduction was nearly doubled, up to $12,000 for single filers, to $18,000 for a head of household, and to $24,000 for joint filers. The child tax credit for families was doubled from $1,000 to $2,000, and individual along with business tax rates were cut across the board for every tax bracket. That means this year a middle-class family of four in Kansas will keep an extra $2,100 of their hard-earned money in their pocket, money they can use, save for their retirement, save for their children's college education, or maybe go out for a dinner and a movie. The law also cut corporate rates from 35 percent, which was the fourth highest rate in the world and the highest amongst the developed world, to a competitive 21 percent, encouraging businesses to expand and to reinvest in America again. So far, more than 700 companies around the country have done just that, benefiting millions of hardworking families with bonuses, higher wages, and better benefits.…”