The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
“TAX REFORM BENEFITS” mentioning the U.S. Dept of Labor was published in the House of Representatives section on pages H5642-H5646 on June 25, 2018.
The Department provides billions in unemployment insurance, which peaked around 2011 though spending had declined before the pandemic. Downsizing the Federal Government, a project aimed at lowering taxes and boosting federal efficiency, claimed the Department funds "ineffective and duplicative services" and overregulates the workplace.
The publication is reproduced in full below:
TAX REFORM BENEFITS
The SPEAKER pro tempore. Under the Speaker's announced policy of January 3, 2017, the gentlewoman from Indiana (Mrs. Brooks) is recognized until 10 p.m. as the designee of the majority leader.
General Leave
Mrs. BROOKS of Indiana. Mr. Speaker, I ask unanimous consent that all Members have 5 legislative days in which to revise and extend their remarks and to include extraneous material on the topic of this Special Order.
The SPEAKER pro tempore. Is there objection to the request of the gentlewoman from Indiana?
There was no objection.
Mrs. BROOKS of Indiana. Mr. Speaker, I rise today with a number of my colleagues from Indiana and Ohio, the great Midwest, to celebrate the 6-month anniversary of the Tax Cuts and Jobs Act being signed into law.
Our previous tax code was written more than 30 years ago and became broken, outdated, and overly complicated, and desperately needed to be reworked so Americans could receive much-needed relief. It was failing to support families with the resources they need in order to properly plan for their futures. Our tax code left those who were struggling to make ends meet behind.
But on December 22, 2017, that began to change when the President signed H.R. 1, the Tax Cuts and Jobs Act, into law. The Tax Cuts and Jobs Act cut the individual tax rates for all individuals, allowing Americans to keep more of their hard-earned paychecks. It also slashed our corporate tax rate to ensure American businesses can remain competitive and compete on a global scale.
H.R. 1 also included provisions to support the most important engines of our economy: small businesses. By allowing businesses to fully write off the cost of new equipment in the first year, our updated and revamped tax code provides small businesses more money up front to quickly reinvest back into improving their operations, hiring new workers, and increasing pay and/or bonuses of current workers.
In 6 short months, the Tax Cuts and Jobs Act is already working for those who need it most, our country's hardworking middle class families and workers, allowing Americans across the country, and in Indiana, to keep more of their income.
For the typical family of four nationwide earning the median family income of $73,000, with this new law, they will now receive a tax cut of $2,059. In the Fifth District of Indiana--central Indiana, which I represent--the average family of four is saving even more than that, at about $2,590, and the average single person is saving about $1,716 dollars.
These savings allow people to put money aside for things like continued education; payments toward a new home; and, overall, provide relief by making the cost of living just that much more manageable.
Additionally, more than $4 billion in bonuses have been given out to employees all across the country--$4 billion. Our Nation's unemployment has fallen to the lowest in 17 years, an unemployment rate of 3.8 percent as of May of this year.
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Market confidence is also high. Our economy is booming, with 63 percent of small businesses saying they feel optimistic about the direction of our economy and 77 percent of manufacturers are planning on hiring new employees.
This is good news, because when our economy grows, everyone benefits.
A constituent of mine from Pendleton, who owns a restaurant, recently told me that instead of having to shut down for several days for repairs when a vital piece of his kitchen equipment broke, he was able to purchase a newer, more efficient model and remain open thanks to the new expensing provisions in the tax law.
I also heard from a Hoosier who came to D.C. with NFIB who is now able to provide his employees health insurance thanks to the savings he has seen through the savings for small businesses resulting from the Tax Cuts and Jobs Act. This critical benefit has helped him retain workers--he, I recall, had eight employees--and is allowing him to recruit even better talent to further grow his operations.
These stories are just two of millions from across the country showing just how much tax reform changes people's lives for the better and will provide certainty and optimism for much brighter futures.
Still more good news is to come as Americans file their taxes next April for the first time using the new system.
Mr. Speaker, I am really pleased that I have several colleagues here both from Indiana and from Ohio who have come to share their stories about their constituents and the good things that are happening in their districts.
Mr. Speaker, I yield to the gentleman from Indiana (Mr. Banks). Mr. Banks represents Indiana's northeastern Third District and is serving in his first term in Congress. I thank Congressman Banks for being here.
Mr. BANKS of Indiana. Mr. Speaker, I thank my friend, Chairwoman Brooks, for her attention to the positive effects of tax cuts on our Nation's economy, especially back home in Indiana.
Mr. Speaker, when this body was debating the Tax Cuts and Jobs Act, we were told that 3 percent growth was impossible. We were told that the middle class and small businesses would not see any benefits. And we were told that manufacturing jobs would never come back.
Mr. Speaker, all of these so-called experts were dead wrong.
Since December, the U.S. economy has been growing at 2.9 percent and the Atlanta Federal Reserve bank estimates that growth this quarter will exceed 4 percent.
This is hardly the ``secular stagnation'' that so many on the left insisted was the inescapable future for the U.S. economy.
The bottom line is this: the Tax Cuts and Jobs Act has unleashed record growth by lowering taxes on America's families and businesses.
When I am back home in northeast Indiana, I am constantly hearing good news as a result of tax reform.
In Bluffton, 20/20 Plastics is increasing annual wages by $1,200 and looking to invest in new manufacturing facilities in 2019.
In Fort Wayne, Quake Manufacturing is adding $1,000 bonuses and dental insurance for its employees.
Hoosiers across northeast Indiana have experienced the benefits just from turning on their lights, as Northern Indiana Public Service Company requested that customers' utility rates be lowered.
It is no secret why this is happening: Washington is taking a page out of Indiana's playbook.
During my time as a State senator, I was proud to work with Governors Mitch Daniels and Mike Pence to significantly lower taxes on individuals and businesses.
As a result, Indiana has one of the strongest economies in the country, with an unemployment rate of 3.2 percent and a labor force participation rate well above the national average.
Unemployment claims are at a historic low, and Indiana consistently ranks as one of the top States for business investment and economic growth.
For example, the annual report ``Rich States/Poor States'' ranks Indiana as having the country's third best economic outlook, while CNBC has consistently ranked the Hoosier state as one of the best places in the country to do business.
Finally, Indiana continues to be a manufacturing powerhouse, with 536,000 Hoosiers employed in the industry, and this number will only grow thanks to the Tax Cuts and Jobs Act.
Monthly manufacturing job gains have more than doubled under Republican control, with over two-thirds of manufacturers creating new jobs to fill.
Even more impressive, 86 percent of manufacturing firms plan to increase capital investments thanks to the tax cuts passed by Republicans.
As the district with the most manufacturing workers in the country, this is great news for Hoosiers as companies across northeast Indiana are hiring more employees and increasing wages.
Additionally, 47 percent of U.S. small businesses plan to use their tax savings to increase business investments.
We know from the data that there is a 99 percent correlation between business investment and wages, and there is no question that the Tax Cuts and Jobs Act has spurred business investment.
This was the largest increase of wages since mid-2009.
Mr. Speaker, some have said the good news has amounted to crumbs and have promised to undo all of the gains we have seen from tax reform.
We owe it to the American people to make sure that that does not happen, but instead, we need to make these tax cuts permanent.
Mrs. BROOKS of Indiana. Mr. Speaker, I yield to the gentleman from Indiana (Mr. Hollingsworth), who represents the Ninth Congressional District in southern Indiana. He is a gentleman who has done business for many years.
Mr. HOLLINGSWORTH. Mr. Speaker, I thank the chairwoman for hosting this very important Special Order, and I am so glad that we are talking about the tremendous benefits that we have seen from the Tax Cuts and Jobs Act passed just over 6 months ago.
During the last 6 months, we have heard a lot of impressive statistics about the national economy. We have heard about unemployment being down to 3.8 percent. We have heard about second quarter GDP being projected at in excess of 4 percent. We have heard about there being more available jobs than there are available workers in this country for the first time since the Labor Department has been keeping that statistic.
It is really impressive what the national economy has been doing over the past 6 months, but what matters most to me and what matters most to Hoosiers back home in the Ninth District is, what it is doing for them; what it is doing for their small businesses; what it is doing for their pocketbooks; what it is doing for their families; and what it is doing for their communities.
In Ellettsville, Joe said:
Per month, my wife and I alone will receive over $200, and for our family, that really helps us out. That is groceries for an entire week.
Down in New Albany, Will said:
As a small businessowner, I am now able to invest more in our company and employ more qualified people.
These are just two stories of what I hear day in and day out when I am traveling about the district.
When I go to townhalls, I hear about the tax reform. When I go to small businesses, I hear about the tax reform. When I go and visit families at their farms, I hear about tax reform's impact.
I want to ensure that we continue to see the impressive national statistics, but also continue to hear the great stories about how this bill, how the Tax Cuts and Jobs Act, made a difference in individual Hoosiers' lives.
Mrs. BROOKS of Indiana. Mr. Speaker, I thank the gentleman from southern Indiana for sharing.
Mr. Speaker, I yield to the gentleman from Ohio (Mr. Stivers). He is from central southern Ohio's 15th District.
He is a dedicated soldier. I understand Mr. Stivers has been a long time in the Army National Guard, actually over 30 years, and is now a brigadier general in the Ohio Army National Guard. I thank him for that service and ask that he please share with us the stories he has been hearing about how it has been impacting those in the Buckeye State.
Mr. STIVERS. Mr. Speaker, I want to thank my colleague from Indiana, the Chair of the House Ethics Committee, for putting together this Special Order so we can talk about what is going on with tax reform.
Mr. Speaker, the numbers don't lie. Tax reform is growing our economy and providing more opportunities for all Americans. It has been just over 6 months since the Tax Cuts and Jobs Act was signed into law, and we are already seeing results.
First and foremost, our economy is growing at nearly 4 percent, a remarkable number, despite the Congressional Budget Office's pessimistic prediction of only 1.9 percent growth.
When I started in Congress in 2011, unemployment was 9 percent. Due largely to our tax reform and regulatory reform, our business community is now creating jobs. Unemployment has fallen to 3.8 percent, according to the Bureau of Labor Statistics, an 18-year low.
Moreover, not only are businesses hiring, but they are reinvesting in their employees. They are giving Americans more money in their pocket. In fact, 4 million workers and counting have received bonuses and seen more money sent to their 401(k)s, and 90 percent of Americans have more money in their paychecks as a result of tax reform.
I am seeing the benefits across my district, with companies such as Nationwide Insurance, R+L Carriers, eCycle, and Fifth Third Bank giving bonuses, pay raises, and raising contributions to retirement.
These benefits are real and make a tangible difference for hardworking families in the 15th District and it has given them an opportunity to reinvest in their future.
The economy is booming, and people are noticing. Consumer confidence is at an 18-year high. We are seeing wage growth, a pay raise for the American worker, for many of them for the first time in 10 years.
We were also told that the tax bill would hurt the housing market; however, home prices are surging. According to the S&P, the home price index has increased 6.5 percent.
The statistics and stories go on and on, but, Mr. Speaker, you just can't deny the numbers. Tax reform is working for the 15th District, it is working for the State of Ohio, and it is working for America.
What I have heard from some of my constituents: Carolyn in Grover City, who is a budding entrepreneur, is using her tax cut to start a small business. Tamela in Amanda says that it just helps her breathe easier having a little extra money in her pocket, knowing that the government is taking a little bit smaller bite. She has got a little bit more money to make things balance.
It has only been 6 months since the Tax Cuts and Jobs Act took effect, and I look forward to seeing how Ohioans and Americans continue to benefit.
Mrs. BROOKS of Indiana. Mr. Speaker, I thank the gentleman from Ohio for his comments. When he shared about people breathing easier, I know that a bank teller that I spoke with in Sheridan, Indiana, shared with me that that extra in her paycheck is allowing her to pay more for daycare rather than her husband having to work quite so hard at that second job. So it is helping her pay their daycare bill and it is helping them breathe a little bit easier.
Mr. Speaker, I yield to the gentlewoman from Washington (Mrs. McMorris Rodgers). Mrs. McMorris Rodgers represents eastern Washington's Fifth District.
I have the pleasure of working alongside her on the Energy and Commerce Committee, and we have heard about 1 million more jobs created, 4 million more people receiving bonuses, 90 percent of people with more money in their paychecks.
Mr. Speaker, I look forward to hearing how tax cuts are impacting the State of Washington.
Mrs. McMORRIS RODGERS. Mr. Speaker, I thank the gentlewoman very much for yielding and for hosting us this evening and bringing us together to talk about the positive impact of the Tax Cuts and Jobs Act, one part that is contributing to our booming economy.
Last Friday was the 6-month anniversary of the passage and the signing of the Tax Cuts and Jobs Act into law. It is the most sweeping tax reform in more than 3 decades, and our goal was pretty simple: more jobs, bigger paychecks, and fairer taxes. And as this law continues to be implemented, that is what we are seeing.
Since we passed the Tax Cuts and Jobs Act, we have been able to create more than 1 million jobs; the unemployment rate is now at 3.8 percent, that is the lowest in 50 years, since 1969; unemployment for Blacks and Hispanics is at the lowest level ever on record; compensation increases for small business workers are at the highest level in 20 years; consumer confidence is close to an 18-year high; people are the most hopeful that they have been in 17 years about finding that good-paying job; and for the first time in our history, there are more jobs available than people that are seeking and looking for those jobs.
There was a recent survey of manufacturers that found 72 percent of manufacturers report that they plan to increase employee wages and benefits; 77 percent plan to hire more workers; 86 percent say that they have already planned expanded investments.
This is the economic comeback that Americans and their families have long waited for. With results we promised, like bigger paychecks and lower utility bills, because of tax reform, people are better off.
So often policy becomes about the numbers. And these are great numbers and we are proud of these numbers.
But now I would like to focus a little bit more on what tax reform means, focus on why it matters.
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The why is the real people in eastern Washington, hardworking men and women in eastern Washington and all across this country who now have the opportunity for a better life, thanks to this progrowth policy.
For weeks now, my colleagues have come to the House floor to share stories of small businesses that are expanding, moms and dads that can spend more time with their children, families taking vacations together for the first time, and so many more stories. Those stories are the same stories that I hear in eastern Washington.
A few weeks ago, I was talking with a family in Spokane, Washington, and they told me that they are seeing $400 more a month in take-home pay. They are grateful for that extra cushion because their daughter is living with a disability and, given her needs, they never know what the expenses may be. With nearly 5,000 more dollars in their pocket this year, they are more confident about the future and their ability to care for her.
I also met a dad who manages the Starbucks in downtown Spokane. He was so excited about the announcement of bigger paychecks, more take-
home pay, better benefits, because he had just had a son. He and his wife had just given birth 4 months earlier, and he was so hopeful about this future.
When the withholding tables changed in February, I received a call in my office from a woman who could barely speak because she was so excited about what an extra $40 in her paycheck was going to mean for her. And I quote her: ``I just got my paycheck for the first time, and I am getting $47.98 more than I did in the past, which is about $1,200 more a year. For me, they are not crumbs. It's more money to help me put food on the table. I'm so happy, I wanted to tell everybody, the whole world, that these tax cuts work.''
So to some, these may be crumbs, but to hardworking men and women, it makes a difference in being able to support their families.
I had another person contact my office thinking that their H.R. system had glitched when they saw $100 more in their paycheck, and he said: ``For me this will be $2,400 a year. That's real money, to buy groceries, fill the car up with gas, or take the family on a weekend trip.''
Tax reform is changing lives and, despite all the good, all these milestones and positive headlines, our colleagues across the aisle still voted ``no,'' and worse, they now are wanting to take it away.
For working moms and dads, we doubled the child tax credit, preserved the adoption tax credit, expanded 529 accounts to help with the cost of raising children. For moms like me who are raising a child with a disability, I was proud to get my ABLE 2.0 provisions included so that now a child with disabilities can go explore work, find a job, and take those earnings and put them into their ABLE account.
ABLE to Work is going to allow individuals to save more of their own money, maybe go get an internship or a part-time job. My ABLE Financial Planning Act will allow families of those with disabilities to roll over funds from a child's savings account to an ABLE account if their child becomes disabled. These provisions are going to help families who have children with disabilities live full and independent lives, and I was proud to be a part of that.
For the millions of women who recently received a pay increase, including entry-level employees at Wheatland Bank in Spokane, Washington, they can now invest more of what they earn in their pay for their education, retirement, everyday expenses to travel and chase their dreams.
In fact, more than 600 companies have passed down benefits from tax reform to their employees. For people and small-business owners in my district, this means real relief. Ninety percent of people are seeing more money in their pocket every month. For the average family of four, it is $2,000 a year.
These are real stories from real people who are benefiting, and we are just getting started.
Mrs. BROOKS of Indiana. Mr. Speaker, I thank the gentlewoman from Washington, and I love her message of more jobs as she just talked about bigger paychecks, fairer taxes. It is happening in her State and all across the country.
Mr. Speaker, I yield to the gentleman from Ohio (Mr. Johnson), who, prior to coming to Congress, also served our country. He retired as a lieutenant colonel from the United States Air Force, and I am very fortunate because I get to serve with him, also, on the Energy and Commerce Committee.
I ask the gentleman to please share with us how the Tax Cuts and Jobs Act is helping eastern Ohio.
Mr. JOHNSON of Ohio. Mr. Speaker, I thank my colleague, Mrs. Brooks from Indiana, for hosting this Special Order this evening to talk about this very important topic, and I am really proud to join all of our colleagues tonight to talk about the effects of the Tax Cuts and Jobs Act. I want to focus my comments on the good news coming out of eastern and southeastern Ohio as a result of these historic tax reforms.
Just last week, we celebrated the 6-month anniversary of the Tax Cuts and Jobs Act being signed into law. In just these few months, we have seen consumer, business, and manufacturing confidence at or near record levels, more money back into the pockets of hardworking Americans, and unemployment rates at some of the lowest levels we have seen in nearly two decades.
In the Sixth District of Ohio, since the start of 2017, unemployment rates have dropped significantly in each of the 18 counties I represent. Now, we know there is still more work to do, but the trends are moving in a positive direction.
Many of our friends on the other side of the aisle said the sky would fall when we passed this landmark legislation but, in fact, the opposite has happened.
Just last week, one of my constituents from Marietta, Ohio, stopped by my office to tell me he is receiving an additional $80 each week in his paycheck due to tax reform. That is an additional $320 per month, or $3,840 per year. That is even more than the average of what we thought was going to happen for hardworking families. He said he uses this money to help pay his car payments, and he expressed his gratitude for that extra money he has in his pocket to help him make those payments.
I hear these stories every day when I travel my home district in eastern and southeastern Ohio, and I can tell you firsthand, we are still seeing the benefits from the Tax Cuts and Jobs Act, and we will for a long time to come.
The results are real, and it is encouraging to see what happens when we refuse to accept the previous administration's slow-growth economic policies as some kind of new normal.
There is no doubt: The hardworking men and women of eastern and southeastern Ohio are optimistic about the positive economic growth under our new Tax Code, but they are not the only ones. This positive outlook is happening all over America.
You know, it is about time that Washington creates an environment where our free enterprise, market-driven system puts money into the American people's pocket rather than Washington standing there with its hand out taking money out of their pockets, and that is just what the Tax Cuts and Jobs Act did.
Mrs. BROOKS of Indiana. Mr. Speaker, I thank the gentleman from Ohio for sharing with us how it is impacting eastern and southeastern Ohio.
I yield to the gentleman from Ohio (Mr. Davidson), who represents the Eighth Congressional District and also served his country as a United States Army Ranger and had been in business prior to coming here to the people's House.
Mr. DAVIDSON. Mr. Speaker, I would like to thank Chairwoman Brooks for putting this Special Order together and taking time to call attention to some good news. Good news is out there. It is hard to find sometimes on the news, but tax reform, the Tax Cuts and Jobs Act is all about good news.
What is astonishing is the Tax Cuts and Jobs Act was already having an impact even before it became law. The hope of the cuts that were to come were causing our economy to grow at nearly double the rate that it was under the previous administration.
And now we have seen deeds, not just words. We have seen actions transform the idea of tax cuts into enacted tax cuts, things that have transformed the expectation of 1\1/2\ percent growth, the path that had our economy stagnating, take-home pay stagnating, and no hope for the growth that our parents once knew to be part of the American future.
Today, we are seeing 3 percent growth. We may even see more than 4 percent growth in this quarter. The experts said this wasn't going to happen and, instead, what we have seen is the power of ideas, the power of those ideas becoming law, and now we are seeing that show up in our economy.
What does that mean for families in Ohio? Hardworking families are getting more home take-home pay. They are creating more opportunities. The ability to change jobs and find a better-paying one with better benefits is out there because everyone I am talking to is hiring.
This is great news for Ohio, a State that just a short time ago was reeling from over 400,000 jobs lost, a fleeting economy, and a State savings account that was raided to just 89 cents left in Ohio's treasury.
Today, Ohio's manufacturers are hiring. In fact, nearly every company that I have met with is hiring, and their problem is they can't hire fast enough. They are looking for more good workers, and this is creating better opportunities for hardworking Ohioans and better opportunities for American companies. Because we didn't just cut taxes, we reformed taxes, and we made changes that make it so companies are investing in Ohio, in America again, and this is creating these jobs.
Places like Staub Manufacturing Solutions have seen an uptick in sales, employment, and optimism. They have grown their team from 23 to 37 employees over the last year, and they recently expanded by acquiring a new building.
Hartzler Propeller in Troy, Ohio, is experiencing the same optimism and continues to grow and invest in the future of their employees and their investment in Ohio.
How does this happen?
The framework has to be right. It is not more government or less government; it is the right kind of government. It is the kind of government that has made America the world's land of opportunity.
America has always attracted the best goods, services, capital, ideas, and people that flow freely and flourish here in America because we have the certainty of a good regulatory framework, not an excessive, burdensome regulatory framework. We have seen that burden lifted, and we have seen it complemented by strong tax reform, important tax cuts, and we have seen the result is more jobs, more than a million created in the 6 months since this bill became law.
The Tax Cuts and Jobs Act is a constructive policy for jobs, for prosperity, and for a promising economic future for everyone in America.
Mrs. BROOKS of Indiana. Mr. Speaker, I thank the gentleman from Ohio for his comments, and I agree with him. Everyone is hiring. There are so many job openings right now.
As the gentleman said, there are a million new jobs. Everyone is competing at a higher level, and they have to compete in order to retain those employees in order to keep those employees happy.
So things are really buzzing along, and I thank the gentleman for being here this evening and sharing what is going on in southern Ohio.
Mr. Speaker, I have no further speakers, but as we have heard from Members from Indiana, Ohio, and Washington, because everyone is hiring and people have to compete, there are companies throughout Indiana, companies like First Merchants Bank, one of the first in Indiana to announce they were going to have an hourly wage increase and $500 bonus for nonsenior management; a company in my district, one of the larger employers, Hoosier Park Casino, all employees received a $500 bonus after the Tax Cuts and Jobs Act was announced; Fifth Third Bank, $1,000 bonuses to over 13,000 employees, and they also raised the minimum wage.
These are the types of stories that we have heard, whether it is from small companies or from large, national companies and companies that do business all across the country. They are competing for workers, and when they are competing for workers, the workers and the employees are winning because everyone is hiring and everyone is trying to compete.
Mr. Speaker, I thank all of my colleagues for the opportunity to highlight the benefits of the Tax Cuts and Jobs Act. Every Member of Congress has this duty to their constituents and to try to make sure that we promote and make sure that the benefits of historic tax reform have extended all across the country, as we have heard today, and have impacted Americans from all walks of life.
Moving forward, we have to continue to implement these types of policies that will encourage economic growth, create those jobs, ensure that our Tax Code continues to support the policies to make sure that the welfare of American citizens in the 21st century is at the highest so that we can have the best for all Americans in the 21st century.
I want to thank all my colleagues for taking the time to participate this evening, as we have gone late into the evening. I look forward to working for the benefit of all of our constituents all across the country.
Mr. Speaker, I am very proud to have been a part of the passage of this historic Tax Cuts and Jobs Act, and I yield back the balance of my time
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