This week, instead of letting the status quo in the swamp continue – taxing folks until the cows come home – I joined President Trump at the White House to mark passage of the Tax Cuts and Jobs Act. It is very simple, this new law will allow you to KEEP MORE of what you earn by SENDING LESS of what you make to Washington. In fact, if you’re a family of four making less than $55,000 a year your new tax rate will be ZERO percent...that’s right, you won’t pay a single penny in federal income tax.
Missourians work hard for what they earn, they reinvest what they make into their farm or business and use what’s left to keep the lights on and to provide for their families. We aren’t the Wall Street stock brokers or the California movie producers who use high priced tax lawyers to avoid paying what they owe. We are the hardworking low and middle income families who rise early, work hard and spend the time we can with our family and loved ones. We budget for our family and for our farms and we live within our means. We are exactly the type of folks in need of relief from an overbearing and suffocating federal tax system.
Since August, I have joined the President twice on his travels to Missouri to discuss focusing middle income tax relief on the folks of the heartland and met with him, Vice President Pence and First Daughter Ivanka Trump multiple times while working on the Tax Cuts and Jobs Act. The President shared my same vision of immediate tax cuts for Missourians, he knows that our folks are exactly the ones who need tax relief now, not Hollywood or coastal elites concerned they are losing their prized tax loophole or deduction.
Not only does this bill mean more money in your pocket at the expense of those special interest tax breaks, but it also repeals one of the most burdensome parts of Obamacare, the Individual Mandate, which forced Missourians to buy something they didn't even want - government rationed healthcare. When I spoke with the President about what he wanted to see in this tax cut bill, he clearly outlined his priorities, as did I, and as a result, our bill delivers on what we both wanted – more money and more freedom for you. I am proud to stand with him to deliver on those tax cuts for the families of south central and southeast Missouri.
With the signing of the Tax Cuts and Jobs Act into law, Missourians can look forward to higher wages, lower taxes, a simpler, fairer and flatter tax system and a stronger American economy - all issues and ideas I heard raised during multiple tax roundtables held across southeast and south central Missouri less than one year ago. This legislation will deliver historic tax cuts that unleash our economy by making employers want to invest, expand, grow and hire right here in the United States, the way it should be. History has shown this over and over, tax cuts create jobs. In fact, the tax cuts advocated for by Presidents Kennedy, Reagan and Bush combined created more than 33 million new jobs. It means small businesses and family farms will be able to grow and hire workers with the lowest tax rates in more than 80 years.
I am honored to represent Missourians and be part of the team that put a sweeping tax cuts bill on President Trump’s desk. With every paycheck you earn, I hope you will see what President Trump and I have worked so hard to deliver this Christmas – more money in your pocket and less in the hands of Washington-swamp dwellers. Under the Tax Cuts and Jobs Act, you’ll see that gift of tax cuts is the gift that truly keeps on giving.