Tax Reform Means Choices


Date: Feb. 26, 2018
Location: Washington, DC

In recent weeks, I have seen countless articles and polls highlighting tax reform: according to a CNBC poll, confidence in small businesses is at an all-time high; 4 million workers and counting have received more than $3 billion in bonuses; 90 percent of Americans saw more money in their paychecks this month as the new withholding tables took effect.

But I did not need polls and articles to know why the majority of Americans are supportive of the Tax Cuts and Jobs Act, which was signed into law last year. I have heard from constituents right here in Ohio's 15th Congressional District that are reaping the benefits and excited about their economic prospects.

On Main Street, small business owners and job creators are more confident than ever before in the future of their businesses. But there is optimism not just for those who already operate their own businesses. Many aspiring entrepreneurs, like Carolyn from Grove City, are excited about tax reform because it not only puts some startup money in her pocket, but because the simplified tax code has removed many barriers to entry that new businesses face. The tax code is now fairer, simpler, and allowing more people to pursue their American Dream.

Ohio's businesses, small and large, are also doubling down on their commitment to help their employees pursue their Dreams. R+L Carriers, an international shipping company based in Wilmington, is offering all 13,000 workers bonuses of up to $1000. Nationwide Insurance is increasing their contributions to 29,000 employees' 401(k) plans. These companies have long been partners in our communities, and I am glad that the tax reform bill is giving them the tools they need to help stimulate our local economies and support their employees and their families.

Most importantly, 90 percent of Americans now have a bigger paycheck, and while the extra income represents something different for each of them, they are all able to make day-to-day choices that are best for them and their families. Tamela in Amanda has been able to breathe a little bit easier -- she says she has used her money for everyday expenses, like groceries. Nathaniel, from Hilliard, is excited to save the extra cash for a rainy day, in case of an emergency or for a larger purchase. Regardless of how they choose to spend their money, their ability to make a choice is proof that tax reform is working.

Tax reform means more money in your pocket. More money means more choices, more opportunities, and more people pursing their American Dream.