Sen. Lankford Submits Op-Ed on Tax Reform
Just before Christmas,
Many companies across the nation and across
Tulsa's AAON Heating and Cooling Products announced that employees will receive a
I could go on and on. According to the Americans For Tax Reform's running list, more than 3 million Americans and counting will receive a bonus as a result of tax reform.
For working families in
Tax reform also maintained the Earned Income Tax Credit to provide important tax relief for low-income Americans, and it provides support for graduate students by continuing to exempt from taxes the value of their reduced tuition. Tax reform also expanded paid family leave by incentivizing businesses to offer workers up to 12 weeks of paid family leave with a tax credit as big as 25 percent.
The law included a little-known provision that will help low-income distressed communities across America and
Historically, the American economy has grown at 3 percent or more a year, on average. However, in the last 10 years, economic growth has collectively averaged under 2 percent, and last year, our GDP only grew by 1.5 percent. That means the economy was growing at not even half of its historic potential, which is completely unacceptable. We need a strongly growing economy that will increase production, jobs, and wages for Oklahomans. I am confident the economic growth from this tax reform bill will not only increase wages, but it will pay for itself and help pay down the federal debt over time if we can convince
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