Erin Houchin: “Let's just review some of the wins in the Working Families Tax Cut Act because taxpayers are expected to take home an…”

“Let's just review some of the wins in the Working Families Tax Cut Act because taxpayers are expected to take home an additional $91 billion in refunds and keep an additional $30 billion in their paychecks from reduced withholdings. Taxpayers are set to continue to receive support in tax years to come through a double standard deduction and lower tax rates, making the 2017 tax cuts permanent, an increase in the standard deduction by up to $1,500 per family in 2025, no tax on tips, no tax on overtime, no tax on Social Security, a boost to the child tax credit of $2,200 while indexing its value to inflation, expanding access to childcare and paid leave tax credit permanently, expanding the 529 savings accounts to help families choose education that best fits their needs, and expanded health savings accounts so American families can control their own healthcare. That doesn't sound like benefits to millionaires and billionaires. It sounds like benefits to hardworking American families. Also, I note that the subsidies that the gentleman from Massachusetts so wants to support, the American people would not see a dime of that. It would go directly to insurance companies who, again, are seeing record profits.”