President Trump’s Tax Cuts are a Windfall for Americans

Official White House Photo by Joyce N. Boghosian

TAX CUTS COME HOME: President Trump’s tax cuts have brought real, tangible benefits to American families and businesses.

  • As a result of tax reform, over 430 companies have announced pay raises, bonuses, or 401(k) hikes, benefitting over 4 million Americans.
    • American businesses have announced more than $4 billion in bonuses directly as a result of tax reform.
  • Businesses across Missouri have announced bonuses that will boost Americans’ paychecks:
    • Central Bancompany has announced bonuses of either $1,000 or $500 to 2,500 employees.
    • College of the Ozarks will provide every employee with a $204 bonus and will be passing on healthcare plan savings as a result of the ObamaCare mandate repeal.
    • Dynamic Fasteners announced bonuses of up to $1,000 to its more than one hundred workers, and will hire more employees and open a paint shop.
    • Great Southern Bancorp will give a $1,000 or $500 bonus to 1,200 employees.
    • Hawthorn Bank has announced bonuses of either $1,000 or $500 to its more than 300 employees throughout Missouri.
    • Hunter Chase and Associates has given employees and extra week of vacation and started hiring new employees.
    • Kansas City Southern has announced $1,000 bonuses to many of its 6,485 employees.
    • Mid-Am Metal Forming has announced that its 140 employees will receive cash bonuses.
    • Tyson Foods has announced bonuses of $1,000 or $500 to many of its 5,800 employees in Missouri.
    • Walmart has raised its company-wide minimum wage to $11 an hour and announced $1,000 cash bonuses, benefitting the 25,700 people in Missouri employed by the company.

UNBURDENING BUSINESS: The new tax cuts dramatically lower the tax burden on American business, unleashing a new era of economic growth and making the U.S. more competitive.

  • The President’s tax cuts reduce the top Federal tax rate from 35 to 21 percent, unburdening American business and making U.S. businesses more competitive on the international stage.
  • S corporations, sole proprietors, and other “pass-through” business will be able to deduct 20 percent of their qualified business income.
  • American business will be able to deduct 100 percent of their capital investments in the year the investment is made for the next 5 years.
  • The Tax Cuts and Jobs Acts will help bring back wealth back to the U.S.
    • The new tax law changes our current worldwide system to a territorial system, thereby ending the penalty on countries headquartered in the U.S.
    • A one-time repatriation tax will be imposed on income that has already accumulated overseas, eliminating the tax incentive to keep that money offshore.

BOOSTING PAYCHECKS: President Trump’s tax cuts are already boosting paychecks of workers across the country.

  • The President’s tax cuts include $5.5 trillion of total tax cuts with more than $3 trillion going to hard-working American families. The new law also includes $4 trillion in tax reforms through the elimination of tax breaks and loopholes that primarily benefited wealthy taxpayers and multinational corporations.
    • The Council of Economic Advisers estimates that annual income for American households will increase in the long-run, on average, by $4,000.
  • By lowering tax rates, nearly doubling the standard deduction to $24,000 for a married couple, and doubling the child tax credit, President Trump has dramatically decreased the tax burden for the average American family.
    • The Child Tax Credit has nearly doubled to $2,000 for each child under the age of 17.
    • The refundable portion of the credit has increased from $1,000 per child to $1,400 per child, which means bigger refunds will be paid to many lower- and middle-income families who don’t have enough tax liability to qualify for the full credit.
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Jeff
Jeff
4 years ago

Thank You President Trump. My Wife got a pay raise and because of the new Tax Tables, I’m seeing a $140 more per month in my take home pay!

Thank You and MAGA!

Mike Gunter
Mike Gunter
4 years ago

If the people do not get out and VOTE for Conservatives none of this will stand. What the hell are people thinking? Every conservative vote is important! We lost another election yesterday. If the dumocrats win the House and Senate all that has been accomplished will be lost. The tax cuts , the wall everything. The dumocrats will continue with their crooked ways and steal from the taxpayer. GET OUT AND VOTE CONSERVATIVE or lose everything.

Robert Mahaffey
Robert Mahaffey
4 years ago
Reply to  Mike Gunter

Yes the democrats are already planning to raise taxes if they take over again.
Vote conservative in all state, County, District & Community Elections Make America Strong Again. ?? Trump 2020

Anne Nowlin
4 years ago

Mike, I’m with you. All registered voters ought to vote and all people who are eligible to vote and who aren’t registered MUST! There needs to be more conservative votes to see more tax reform and other things that are mentioned in the article, “President Trump’s Tax Cuts are a Windfall for Americans.”

Brad Larkey
4 years ago

Amen to that brother,we need to tell everyone to keep voting for conservatives if we want this country and its people to prosper. The demoncrats only wish to advance radically progressive policies and only represent the radical left. Tell everyone you meet that progressive does not mean progress, it means swirling around the toilet bowl before you go down with the waste.

Donald Lee
4 years ago

I am retired and on a fixed income. The tax cuts will have little if any impact on me. However my children have already seen an increase in their take home pay. They are keeping more of their own money. The government is not giving them anything. The government must be made to understand that it is our money and not theirs. The government must learn to live within its income. Cut spending to match available revenue.

Robert Puglisi
Robert Puglisi
4 years ago

Did the Donald write all of these between rounds?

Robert Puglisi
Robert Puglisi
4 years ago

Did the Donald write these between rounds at Mar-a-Lago?

J Ramey
4 years ago

Always vote by paper ballot, not by machines.

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