Protecting Family And Small Business Tax Cuts Act Of 2018
Mr. Speaker, I just wanted to clarify. I firmly disagree with my colleague on the other side of the aisle who just talked about Social Security and Medicare. In fact, the economic statistics that have recently come back have talked about…
Mr. Speaker, I just wanted to clarify.
I firmly disagree with my colleague on the other side of the aisle who just talked about Social Security and Medicare. In fact, the economic statistics that have recently come back have talked about how the Medicare trust fund and how Social Security are actually doing better since we did this historic tax cut bill because more people are working. They are earning more money. They are paying into those programs, and those programs are more secure into the future because we did historic tax reform.
Mr. Speaker, today I rise in support of the Protecting Family and Small Business Tax Cuts Act--a key component of tax reform 2.0. I strongly support this legislation, because I worked on it for many years, but also because of the stories I hear across South Dakota every day.
I had, several months ago, a single mom of two kids come up to me. She is a bank teller. She told me that because of tax reform that her check is $80 bigger every 2 weeks. That meant that her 10-year-old son could get new basketball shoes this year instead of going out and trying to find some that were used from another student who had outgrown them.
I also had another woman from Platte, South Dakota, contact my office and tell me that because of tax reform and tax cuts--her family doesn't usually get much money. They don't make a lot of money. Their wages aren't great. But because of that bill, they have more money in their pockets today. It has made a huge difference in paying their day-to-day bills.
Mr. Speaker, there are dozens of other stories that I could tell you from folks across the State of South Dakota of the benefits of tax reform. Our energy costs have gone down. Our utility bills have gone down. Companies have paid increasing wages for families. They have also paid out bonuses. The tax cuts have been life changing for many in our State.
With that passage and with the passage of this bill today, we will have the opportunity to ensure the upward economic trajectory we have experienced because of a permanent culture of growth and stability that is rooted in the Tax Code.
So tax reform 2.0 is going to make sure that with the benefits families are enjoying today they will still be able to enjoy them long into the future. While no tax plan is perfect in everybody's eyes, I am optimistic that this package today will have a huge benefit for the people of South Dakota. Our Tax Code should help people, not punish them.
Mr. Speaker, I urge my colleagues to join me in support of my legislation today.
