Tax Cuts for the Heartland
This week, President Trump returned to the place where he started his push for historic tax cuts three months ago, right here in Missouri. This time, the President spoke in detail about the proposal which I had recently helped advance through the U.S. House of Representatives known as the Tax Cuts and Jobs Act - our plan to allow American families, small business owners and farmers to keep more of what they earn and more of what they deserve.
In August, the President was in Springfield, the home of Route 66 and the birthplace of Main Street. While in Springfield, the President told me he had his pen in hand, ready to sign historic tax cuts and he was depending on Congress to deliver. But his speech wasn’t just empty rhetoric for the evening news. With the cameras turned off, the President got to work. Since that speech I have personally met with both the President and Vice President, with their respective tax teams, with First Daughter Ivanka Trump and had late night phone calls with the President and White House all in regards to providing middle income tax relief for American families. The President wants to unleash the full potential of American ingenuity and entrepreneurism, and he knows the best way to get our economy fully humming is to not only reduce burdensome regulations, but to also allow families, farmers and businesses to keep more of their hard earned money than send it to Washington – to deliver for them true tax relief.
With the full support of the White House, the U.S. House of Representatives got the job done, we delivered historic tax cuts to help families and our economy, and on Wednesday in St. Charles Missouri, the President called on the United States Senate to do the same. As President Trump said in his speech, the Senate must pass tax cuts so we can bring Main Street roaring back to life – so that we can help the 97% of businesses in Missouri which are classified as ‘small’ in size, but are the true drivers of our economy.
It’s hard to believe that we have not seen true tax reform since Ronald Reagan was President. Realizing reform was near, earlier this year I held a number of public tax roundtables across southeast and south central Missouri to hear from you directly about how the tax code was impacting your family, farm or business and what you wanted to see changed. As a member of the Ways & Means Committee, the tax writing committee in Congress, I knew that the input I would get from you all I could directly take back to Washington and use to get changes in our tax code which would allow you to keep more of your money. During these meetings, I heard from farmers who wanted to stop being punished for buying equipment they need to work their land. I talked to small business owners who told me how their high tax rates prevent them from hiring folks right here at home. I also heard from moms and dads who were worried about how to save for the future when our tax code literally punishes people for starting a family. It is time for a better deal on taxes, and we are finally making much needed changes to our tax code with the Tax Cuts and Jobs Act. I completely agree with President Trump, it is not enough for middle-income families to keep getting by, we must create an environment where they can start getting ahead. That’s why, under our plan, if your family of four makes less than $55,000 per year, you will not have to pay ONE SINGLE PENNY in income tax.
The bottom line is this, the government should be taking the least amount of money from you as possible. The Tax Cuts and Jobs Act will lower tax rates and give folks in southeast and south central Missouri an instant pay raise. I hope we will act quickly to continue move this legislation forward and give all hardworking Americans the tax break they need and deserve.