By Congressman Kevin Brady
Despite what the pundits and many naysayers in the media and Congress said, the Tax Cuts and Jobs Act is doing exactly what we promised.
Since President Trump signed the bill into law, there has been daily news of businesses increasing wages, delivering bonuses, extending maternity and paternity leave, increasing 401(k) contributions and making major investments at home. To date, more than 160 American companies have announced more than $1.6 billion in new investments in the United States. Many utility companies have announced reduced rates, and the Treasury Department recently confirmed that 9 out of 10 taxpayers will see a boost in their take-home pay as soon as next month.
As House Ways and Means Committee Chairman, and lead author of the bill, my goals were simple: cut taxes for the middle-class, simplify our unfair and broken tax code and make America the most competitive place in the world to do business.
The hardworking American people now have a tax code that allows them to keep more of their money to use as they see fit not how Washington sees fit. This is only the beginning. As each new part of the law takes effect, and America becomes more competitive, families will see even more of the benefits with a stronger economy, more jobs, fairer taxes, and bigger paychecks for Texans and hardworking taxpayers nationwide.