After 31 years, Congress delivers historic tax reform just in time for the New Year! Yesterday, Congress passed the Tax Cuts and Jobs Act that cuts taxes for American families and businesses, makes filing simple and easy, and closes loopholes that rigged the economy for too long. The President is expected to sign the bill […]
For the First time since the Great Recession in 2008 lower-end earners are getting greater benefits than higher-end earners. According to the Bureau of Labor statistics earnings rose by 3.4%, which marked the seventh consecutive month that saw earnings increase by 3% or more. This solid growth across income levels is an excellent indicator that […]
According to a piece from the Hill federal taxes only made up 7.9% of GDP in 2018 instead of the 8.3% in 2016 and 2017. Federal corporate taxes fell by nearly 50% from 2017. This means that tax savings were put towards savings and investments instead of being spent. Thanks to the Tax Cuts & […]
America has just received its midterm economic report card, and our founding fathers would be proud. According to the Commerce Departmet American GDP increased 3.1% from the 2017 fourth quarter to the 2018 fourth quarter. This is the largest increase in 13 years. Fox News has also reported that a decade after the bull market […]
According to CNBC, job openings are at a record high. The Labor Department claims that the reported 7.3 million open jobs in December was the highest in the past two decades. If that news wasn’t big enough, the Commerce Department also reports that America’s fourth-quarter GDP increased 2.6%, outperforming original estimates. The Tax Cuts and […]
House Committee on Ways and Means Chairman Kevin Brady should be applauded for working to build on the success of tax reform by introducing the framework for “Tax Reform 2.O.” Forbes outlined how this plan will expanded on the achievements of tax reform that was passed in December. The plan would make the tax cuts […]
The Tax Cut and Jobs Act is officially six months old! There have been countless stories of corporations raising wages, small businesses hiring more employees, and utility companies passing their savings along to people across the country. Since its passage, tax reform has created over 1 million jobs and this progress is not set to […]
On May 23, the House Ways and Means Tax Subcommittee held a hearing (“Growing Our Economy and Creating Jobs”), which focused on the (many) benefits of the Tax Cuts and Jobs Act (TCJA)—aka, tax reform—for Main Street small businesses, the hardworking Americans they employ, and the communities they serve. Subcommittee Chairman Vern Buchanan provided a […]