James Comer: “Many Members have gathered in recent months to remind the American people about the great impact the Tax Cuts and Jobs…”

“Many Members have gathered in recent months to remind the American people about the great impact the Tax Cuts and Jobs Act is having on individuals, families, and our economy. I join with them today to reiterate that reminder and reflect on the accomplishments of tax reform. We kept our promise to deliver on tax reform, and with new legislation in place, we are finally creating an environment that fosters growth in our job market, brings jobs back to the U.S., and supports companies that want to compete globally. Under the new tax law, the typical family of four in the First District of Kentucky will see an average tax cut of over $1,700. Some people look at these cuts as nothing more than crumbs, which is unfortunate. A resident of Scottsville, Kentucky, shared with me that she plans to use her crumbs, as some in Congress like to call it, to put toward remodeling her house, updating appliances, and even helping her daughter and son-in-law remodel their home. The new tax law lowers tax rates on American businesses to help grow jobs, increases wages, and promotes economic growth here at home. Until this legislation was passed, the United States had nearly the highest corporate tax rate in the world, making U.S. businesses uncompetitive, stunting economic growth, and sending jobs and profits overseas. Now many businesses across the U.S. are demonstrating how a lower tax rate helps boost business and the workforce.…”