168 results for tag: Tax Reform


Tax reform is still a money maker!

Months after tax reform passed into law, Americans are still seeing the benefits. We won’t see the full list of benefits for a few years, but it’s a really good sign that we are seeing a lot of them now. The gross domestic product (GDP) is over 4 percent for the second quarter, wages have started rising, and average hourly earnings have gone up 2.9 percent.   The Epoch Times reveals more: According to Scott Hodge, president of the Tax Foundation, the effects of tax cuts won’t be just short-lived. “It’s unrealistic to expect major tax policy changes like this to produce immediate results,” he said in his testimony at a Senate ...

Jenny Beth’s Journal: It’s time to end the tax on phantom “gains”

Wealth creation is essential to making America great again. That’s why it’s disconcerting that we still have a silent tax based on inflation on capital gains – a tax that leads to less capital, depresses wages and job growth. Inflation is a tool created by the Washington Swamp to expand the supply of money faster than the increase in goods and services. Senator Ted Cruz (R-TX) and Senator Jim Inhofe (R-OK) introduced legislation that would index capital gains for inflation which would lead to more investments and economic growth. The Hill has the details: Say you purchased stock in 2000 for $1,000. You sold it in 2018 for $2,000. Under ...

‘Tax reform 2.0’ could help middle-class workers save for retirement

According to Northwestern Mutual, 21% of Americans don’t have retirement savings. Lawmakers are in the process of changing that by creating a bipartisan bill that would help middle-class workers save for retirement and assist small employers with cheaper retirement options. This is all a part of President Trump’s ‘tax reform 2.0’ and his continued effort to make America great again. Fox Business has the details: Lawmakers are working on a bipartisan bill, the Retirement Enhancement and Savings Act of 2018 (RESA), that would offer an opportunity for small employers to band together to obtain more favorable and less expensive pension ...

President Trump: “Our country finally has a tax system that is pro-job… and pro-American”

Last Friday, President Trump reminded the country that even six months later, tax reform isn’t just working, it’s an “economic miracle.” Jobs continue to increase, unemployment claims are at a more than four-decade low, and investment- the bedrock of economic growth- has increased by 21 percent among companies. It’s obvious that our country finally has a tax system that’s pro-American. The Daily Signal has the details: The $1.5 trillion tax reform law cut the U.S. corporate tax rate from 35 percent, the highest in the world, to 21 percent, in line with other developed nations. It also lowered the top individual rate from 39.6 percent ...

If you don’t believe small businesses are benefiting from tax reform, ask the accountant!

Tax reform is still working and small businesses are really enjoying the benefits! Don’t believe us? Ask accountant Kalena Bruce! Bruce breaks down the benefits that small businesses gain from tax reform and what it all means for those who don’t quite understand the technicalities. The Daily Signal has the commentary: The new tax structure lowers tax rates and expands the income thresholds for anyone who pays individual income tax, including small businesses that are structured as pass-throughs. These include sole proprietorships, partnerships, LLCs, and S-Corps. Under the new tax structure, rates fall to 10, 12, 22, 24, 32, 35, and 37 ...

Six months later, tax reform is still working!

Serious tax reform is something that hasn’t happened in many years. Six months ago, the first huge tax reform since 1986 was signed into law. In those short six months, the tax cuts have been showing how beneficial the law is to Americans. One major goal of tax reform was to create more jobs and, so far, 1 million jobs have been created since the law was signed. Furthermore, unemployment is down 3.8 percent, which means it is at its lowest in 18 years.  It is obvious to see how positive the outcome has been for jobs in America. Tax reform has been huge for Americans all over the country. Not only has it created more job opportunities for ...

Tea Party Patriots Citizens Fund Weekly Report from Washington for 6/11/18

CALENDAR: The calendar is the same as last week – the Senate returns on Monday, and the House returns on Tuesday. The Senate will likely finish its work on Thursday, because that’s still a full workweek in the Senate, and the House is scheduled to stay in session through Friday. LAST WEEK ON THE HOUSE FLOOR: The House returned to work on Tuesday, and took up and passed three bills under Suspension of the Rules. On Wednesday, the House took up and passed H.R. 8, the Water Resources Development Act. Then the House took up and passed a motion to concur in the Senate amendment to H.R. 3249, the Project Safe Neighborhoods Grant Program ...

Tea Party Patriots Citizens Fund Weekly Report from Washington for 4/30/18

CALENDAR: The House and Senate are both in recess this week. Both House and Senate will return to work on Monday, May 7. LAST WEEK ON THE HOUSE FLOOR: The House came back to work on Tuesday and passed two bills under Suspension of the Rules. On Wednesday, the House took up and passed both H.R. 3144, to provide for operations of the Federal Columbia River Power Plant System, and H.R. 5447, the Music Modernization Act. On Thursday and Friday, the House considered H.R. 4, the FAA Reauthorization Act. On Friday, the House passed the bill by a vote of 393-13. Later on Friday, the House considered H.Res. 856, a motion to establish a Select ...

Tea Party Patriots Citizens Fund Weekly Report from Washington for 4/23/18

CALENDAR: The House will return Tuesday, and stay in session through Friday. The Senate will return Monday, and stay in session through Thursday. LAST WEEK ON THE HOUSE FLOOR: The House came back to work last Monday, and voted to pass two bills under Suspension of the Rules. On Tuesday, the House passed H.R. 5192, the Protecting Children from Identity Theft Act, by a vote of 420-1. On Wednesday, the House passed a Rule for considering H.R. 5444, the Taxpayer First Act, and H.R. 5445, the 21st Century IRS Act. Then the House passed both bills – H.R. 5445, the 21st Century IRS Act, passed by a vote of 414-3, and then H.R. 5444, the ...

A quick look at tax reform working even after Tax Day

It's been four months since tax reform was signed into law and it is still a big winner for taxpayers, business and the overall American economy. The Daily Signal has the commentary: It lowers individual taxes, corporate taxes, and taxes on small businesses. Ninety percent of businesses are small businesses. They are truly the backbone of America’s economy. ... Under the new tax plan, the corporate rate has been slashed to 21 percent. That’s far from being the lowest tax rate in the world, but it’s still a huge improvement for American businesses. One element of the tax reform package has not gotten enough media attention. Under ...