On the recordJanuary 9, 2018
Mr. President, just over 2 weeks ago, President Trump signed a historic tax reform bill into law. Some, not really knowing what was in the bill and people who were determined to find fault with it, were let's just say a little skeptical at first. They wondered what this whole thing was about and who would actually benefit. But now the verdict is starting to come in. Many folks are pleasantly surprised, for the first time in a while, knowing that Congress and Washington, DC, actually have produced something that will make their lives better. They are appreciative because they are seeing the immediate consequences. In response, more than 100 companies have announced they will give wage increases, they will increase their charitable contributions, and they will give bonuses to their employees. One million Americans are receiving money they previously didn't have, thanks to passage of the Tax Cuts and Jobs Act. But it is not just about bonuses, of course. We expect that once the IRS updates its withholding tables, wages will rise, too, take-home pay will go up, and hopefully people will see that in their paychecks in February. As my colleague the junior Senator from Ohio wrote last week, ``With this tax reform, the proof will be in your paycheck.'' Families can spend that extra money any way they wish, of course. That is the point. They can spend it on projects long delayed. They can spend it on their kids.…
Source
govinfo.gov




