President Trump's Tax Cut$$$ Are Working!

Millions of American workers, families, and small business owners are seeing the real results of President Donald J. Trump’s signature Working Families Tax Cuts law. This landmark legislation is putting more money back into the pockets of hardworking Americans, boosting refunds, increasing take-home pay, and rewarding the American way of life.   Of course, every single Democrat in Congress voted against it.

New data shows the law is delivering record-breaking benefits: The average tax refund is up significantly this year (nearly 11%), with average refunds exceeding $3,700 — while millions more Americans will see an immediate boost in their paychecks as they adjust withholding for the lower tax rates made permanent by the legislation.   Nearly 20 million taxpayers have claimed the No Tax on Overtime provision, giving these essential workers — from factory employees and linemen to police officers and nurses — a powerful new break on their hard-earned extra hours.   Over 4.6 million taxpayers have benefited from No Tax on Tips, providing meaningful relief to service workers who rely on gratuities.   Nearly half of all filers so far have claimed at least one of the law’s landmark new tax cuts.   Nearly 12 million small business owners are seeing an average tax reduction of nearly $7,000, while the permanent extension of the 20% Qualified Business Income deduction is delivering $4,600 in average relief to eight million entrepreneurs.   Restoration of immediate deductibility for research and development expenses — applied retroactively — is freeing up $100 billion in prior-year deductions for tens of thousands of businesses, while full expensing allows companies to write off investments immediately, improving cash flow and fueling expansion.   Parents of more than four million children have already claimed Trump Accounts on their returns.

The Trump Administration believes in rewarding hard work, not punishing it — and this tax season proves it. President Trump and Republicans fought for these pro-worker, pro-family, pro-growth policies. Democrats stood in the way.