What makes your American dream? Owning a home? Having kids? Going to college? Earning an honest wage to support your family, your church, and your community? Fundamental to every single one of those dreams is a job. If we want more businesses hiring people for good jobs with good wages, we need tax reform.
The Status Quo
· Since 2000, the U.S. has lost around 5 million jobs in manufacturing alone.
· Our labor force participation rate is still at a low 7%.
· Wages are up, but they still aren’t as high as they should be.
· Meanwhile, Fortune 500 companies hold an estimated $2.6 trillion in offshore cash.
The Tax Cuts and Jobs Act will bring businesses back to America, allow new businesses to be founded, create more jobs, and put more money in Americans’ pockets. The bill:
· Cuts the corporate tax rate to 20%, which will bring more businesses back to America.
· Allows full expensing so companies can immediately deduct the cost of equipment from their tax bill.
· Allows money being held overseas by American companies to come home and be invested here.
· Prevents jobs from going overseas by ending incentives that push companies to move abroad.
Why We’re Doing This
Nothing can replace a good paying job, and Americans don’t want a hand out. They want the opportunity to earn an honest wage and work at a job they can be proud of. This tax bill brings that fundamental piece of the American Dream back.
Learn more at fairandsimple.gop, or click the links below to see how our bill helps: