Today, President Donald Trump returns to Minnesota to highlight the continued economic success of the Tax Cuts and Jobs Act.
The Republican-led passage of the most comprehensive change in tax law that our country has seen in more than a generation has led to an economic boom that has gone directly to families in Minnesota and across the nation.
- In 2018, 82 percent of middle class Americans saw a tax cut, with Minnesota families seeing an average savings of $1,429.18.
- Due to new IRS withholding rates, 90% of workers saw an increase in take home pay.
- Wages have grown by 3.2 percent – the fastest rate in a decade and hourly earnings are increasing as well.
- Nearly 2.7 million jobs were added in the year following the passage of the tax cuts, with more than 4,200 jobs added in Minnesota alone.
- Minnesota businesses have credited the Tax Cuts and Jobs Act as they give back to their employees via pension investments, bill credits, bonuses, and increases in hourly wages.
However, despite the evidence that tax cuts actually benefit the economy and workers, Minnesota Democrats continue to push for higher taxes. Locally, Minnesota Democrats are pushing for a $0.20 gas tax hike, meanwhile some Minnesota Democrats have suggested taxing Americans up to 90 percent.
“Minnesotans are delighted to welcome President Donald Trump back to the land of 10,000 lakes. Despite attempts from local and national Democrats to roll back the benefits of the Tax Cuts and Jobs Act, Minnesota families have seen the proof and know they’ll continue to see more benefits thanks to the President’s leadership in Washington.” – RNC Spokesperson Preya Samsundar
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