Barrasso: Americans Are Already Benefiting From Tax Reform
Barrasso: Americans Are Already Benefiting From Tax Reform
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Excerpts of
"When we were debating the tax relief law at the end of last year, it was a very familiar debate in many ways.
"
"
"
"We talked about a study from the
"That was partly because of getting a tax cut - and partly because their employer would then pass on much of the tax cut in higher wages.
"
"The Democrat leader actually said that 'tax cuts like these benefit the wealthy and the powerful to the exclusion of the middle class.'
"Who was right?
"Well, the very day the tax bill passed in
"It said that 200,000 hard-working employees were going to get an extra
"The
"That has opened the flood gates to other companies doing the exact same thing and employees around the country are experiencing the exact same thing.
"Businesses started sharing the tax savings with rank and file, middle class workers and it started on day one.
"Not just the wealthy and powerful as
"Over 123 companies have said that they are going to give raises, giving out bonuses, investing in their workers because of the tax law.
"It adds up to more than
"Almost a million hard-working Americans have already gotten the good news - and there's more good news coming every day with more announcements today.
"It's exactly what
"It's happening for people who work at banks, who work at insurance companies, who work at airlines.
"It's happening for people who work at big companies like
"It's happening for people who work at smaller companies like a winery in
"These are businesses and people in communities who are important parts of their communities, doing important jobs.
"The employees work hard, and now they're getting a share of the relief that the
"They're not just getting cash bonuses.
"There's a bank in
"They announced last week that the people working there will be getting a
"More is being invested in employee development and training programs.
"That means people are gaining additional skills that make them more productive, better at their jobs, and qualified for even higher wages.
"This bank in
"That helps improve the communities where the workers live -where they raise their families.
"
"It's happening every day.
"They said that businesses would just keep the money for themselves. That's not what we're seeing all across the country.
"
"The senior senator from
"She said that tax relief was 'an insult to working families across America.'
"I would like to point out to
"The workers getting these bonuses and raises in their pay are her constituents.
"Does she think that these people are feeling insulted?
"I bet they're feeling pretty glad to be supported and valued by their employer.
"There was another business in
"Workers there are receiving a million dollars total in bonuses.
"Health insurance prices have skyrocketed ever since Obamacare has passed.
"Companies have struggled with how to deal with these rising costs. Many have tried to pass these along to the employees.
"Now this company in
"The owner of the business said, 'We want to be sure that our extended family is taken care of.'
"That's how employers are responding to tax relief all around the country- and that's what we said would happen.
"We also predicted that one way businesses might deal with lower taxes would be to cut prices for consumers.
"Americans are starting to see that prediction come true in the form of lower utility bills.
"Gas, and electric, and water utilities across the country are getting ready to cut their rates because their taxes are going down under the law.
"Customers of the power company in
"It's been a cold winter on the
"Customers are also likely to see the same thing in
"These are the kinds of effects we're seeing across the country, in various ways.
"Americans are getting the benefits of tax relief.
"They're getting the benefit of regulatory relief, and the pro-growth policies of
"People are seeing it in their daily lives.
"The polling company Gallup says that as soon as
"That's what the polls found.
"It has stayed positive almost without interruption ever since.
"It's the exact opposite of what polls were showing during the previous eight years, in the previous administration.
"That was during the entire so-called economic recovery.
"Why are people so optimistic now?
"It's because you can't open a newspaper or turn on a television without seeing more good news about the economy.
"New employment numbers came out last Friday.
"
"The
"Bloomberg reported that the Christmas shopping season was 'probably the best one in a decade.'
"People are feeling confident.
"They are seeing higher wages, they're seeing cash bonuses.
"Soon, they'll start seeing the tax cut in their paychecks.
"The American people know that
"We're cutting regulations.
"We're cutting taxes.
"We're putting more money back in their pockets. And that's hard-working Americans have asked us to do. And that's what we're going to continue to do."
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