Even though the Democratic majority is too busy pursuing a baseless impeachment investigation to get things done for the American people, our economy is holding strong. That’s all thanks to the work Republicans got done during President Trump’s first two years in office.
In December 2017, Congress delivered on a promise we made to the American people. We made bold reforms to the over 30-year-old tax code so that hardworking, middle class Oklahomans keep more of the money they earn.
Democrats said it was “Armageddon” and a “scam.” But in reality, the Tax Cuts and Jobs Act is far from the “end of the world.” We have seen the benefits of the bill since the day it was signed into law.
America’s economy has had huge growth, families are seeing larger paychecks, and we are now one of the most competitive in the world. Unemployment remains at historic lows and there are 7 million open jobs in our country, which is more jobs than we have people to fill them.
Additionally, tax revenue is at an all-time high. According to the Treasury Department, total federal receipts are up more than 4% this year. And over the recent holiday weekend, sales jumped nearly 5.4% from last year. People have more money in their pockets that they are able to spend the way they want to instead of giving it to the federal government.
Two years ago, tax reform was a great Christmas gift to Oklahomans and it’s a gift that keeps on giving.