Ensuring Lasting Benefits from Tax Reform
Since the Tax Cuts and Jobs Act was passed by Congress and signed into law by the president, the country has undoubtedly been better off as a result. Wages are steadily on the rise, unemployment has reached its lowest level in nearly 50 years, jobs are being created and the economy is booming. Since this historic tax relief and reform effort was enacted earlier this year, the benefits have not slowed or diminished. Certainly, the lasting impact continues to be felt by individuals, families, small businesses, entrepreneurs and indeed, by all Americans.
Using facts and figures to put reality into perspective, multiple accounts and reports showcase the positive results of tax reform across the nation, in our state and specifically, in the Fourth District of Oklahoma. According to the nonpartisan Tax Foundation, Oklahoma’s full-time workforce has expanded by 2,433 workers since tax reform was enacted, and over 10 years, that figure is expected to grow to approximately 13,758 new jobs. Also due to tax reform, the Heritage Foundation recently projected that take-home pay will increase by $16,654 in Fourth District households over the next 10 years.
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