Summary: Today, Speaker Ryan discussed the ongoing triumphs hardworking Americans are seeing thanks to the Tax Cuts and Jobs Act.
“First of all, as you just heard from the other leaders: You know, tax reform is something we fought for to help all those Americans who are living paycheck-to-paycheck, who are struggling to make ends meet. And we’re really pleased to see the success. Right before Christmas, when this thing became law, workers started to get word that they’re going to get a bonus. They started to get word that maybe they’re going to get a raise for the first time in many years. They started to get word that maybe their benefits were going to improve, or maybe a bigger 401(k) match.
“In less than eight weeks, we have tracked nearly 350 companies that have handed out bonuses as a result of tax reform. Every day we hear more about this. And we know that there are plenty of other small businesses who are doing the same that are just doing it under the radar; that aren’t on CNBC or on television. This adds up to a lot of good news that millions of people can bring home to their families. The list keeps growing by the day, and we’re very excited about that.
“Because this is just only the beginning. Thanks to lower taxes—thanks to tax reform—these lower tax rates are kicking in. So by the end of this month, 90 percent of American workers—by the end of this month, 90 percent of American workers will see bigger paychecks as a result of tax reform. That is very good news for workers. It’s very good news for our economy.
“So take-home pay is going up. People are keeping more of what they earn in the first place. This momentum is generating more confidence in our economy. According to a new survey, a record number of small business owners say that now is a good time to expand. This is going to drive more jobs. This is going to drive higher wages, better take-home pay, faster economic growth.
“Look, I know our Democratic colleagues want to dismiss all of this good news. It’s kind of interesting to watch them try to do this. But tax reform is working. It is delivering bigger paychecks for hardworking families. It’s helping people improve their lives. Remember, this is why we’re here.
“The reason we ask our constituents to send us here to serve them is to improve their lives. And we now know without a shred of doubt, so much evidence is in: Tax reform is working. So those families who are struggling, those families who are pessimistic, those families who are really worried about the next pay period? They’re seeing relief.
“The economy is regaining its confidence. We’re seeing more jobs and better paychecks. That’s a good thing. That’s why we did it. That’s why we’re excited about seeing tax reform work.”