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 […]
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 […]
On May 9, aerospace company Boeing announced details for $54 million in “grants and philanthropic sponsorships to nonprofits in the U.S. and around the globe” as part of the “company’s pledge to invest in local communities following the enactment” of tax reform legislation (which passed Congress and was signed into law by President Trump late […]
The National Federation of Independent Business’ (NFIB) most recent Small Business Optimism Index shows just how powerful and positive of an impact the Tax Cuts and Jobs Act (TCJA) is already having for America’s small businesses. Here are some highlights: The Index saw “sustained record-high levels” (for the 17th month in a row) largely driven […]
Bloomberg Markets reports that, after “months of heated debate over whether companies would hand the biggest tax break in three decades back to shareholders or reinvest it in their businesses, there’s finally some hard data.” Of the 130 S&P 500 companies that “have reported results in this earnings season,” capital spending increased by an incredible […]
It turns out that the Tax Cuts and Jobs Act (TCJA)—passed late last year by Congress and signed into law by President Trump—will not only save hard-working Americans money in their paychecks and at tax time. It will also lower how much many individuals and families pay for electricity: In January, Topeka, Kansas-based Westar Energy […]
On Monday, April 16—the day before Tax Day—House Ways and Means Committee Chairman (and architect of the Tax Cuts and Jobs Act) Rep. Kevin Brady (R-TX) penned an excellent piece in USA Today about Americans filing their taxes for the last time under the previous, anti-growth tax code. In the piece, Brady writes that on […]
A recent National Association of Manufacturers (NAM) study shows many key indicators for the manufacturing sector’s economic health are “at record highs following enactment of the Tax Cuts and Jobs Act” late in 2017. “Empowered by tax reform and regulatory relief, manufacturers are now investing in our people through new jobs, higher wages, bonuses and […]