Apr 17, 2018
Tax Day Marks Arrival of Historic Tax Relief
Post by Freedom Partners
Tax season is often associated with stress and financial pressure for millions of American households. This year, though, there is some encouraging news. Today marks the last time Americans will file their taxes under an antiquated tax code, thanks to the historic Tax Cuts and Jobs Act. Signed into law at the end of 2017, tax reform provides much-needed relief to hardworking Americans, keeping more of their own hard-earned money in their pockets.
Tax reform is already leaving a positive impact on the lives of hardworking Americans. Lower individual tax rates are allowing Americans to keep more of what they earn, giving them more to spend, save, and invest in their future. In addition, the lower corporate tax rate is making America more competitive and encouraging U.S. companies to invest at home.
What’s more, immediately following the passage of this pro-growth reform, hundreds of U.S. companies have announced billions of dollars in new investment, more jobs, higher wages, and bonuses for their employees. The economy is growing, and reports have shown unemployment is decreasing, signals that the change is helping drive the growth our country needs.
This Tax Day marks the start of something new: a more pro-growth tax code that expands opportunity and provides much-needed tax relief Americans deserve. Washington lawmakers, though, still have much work ahead of them to make these tax cuts permanent, continuing to root out corporate welfare deals that favor special interests over American taxpayers, and focus on reining in runaway government spending. Freedom Partners will continue working alongside our nations lawmakers to address these issues in order to expand opportunity for all Americans.