Tax Reform is Working for Employees and Businesses
If you are an American taxpayer, you most likely have bills that need to be paid on a schedule, like an electric bill or a car payment. For many taxpayers, paying those bills might just get a little easier this year. The new tax code has already promised bigger paychecks for individuals and families, but the wave of its effects since passage into law is being realized across the nation from the corporate level to the individual taxpayer. In the immediate weeks since the president signed the tax reform bill into law, many companies – big and small - have pledged to give generous bonuses, expand production, provide raises and create more jobs. In fact, according to a recent survey by NPR/PBS NewsHour/Marist, the new tax code has had a significant rise in popularity in just one month, with many Americans agreeing that it will help them and their families.
The new tax code will provide much-needed relief for businesses, and the results have already been positive. Countless businesses, in anticipation of increased earnings and expanded markets, have provided bonuses to more than 2 million employees. Additionally, some companies have also announced raising wages. With pledges to invest in the economy and create thousands of more jobs, these steps are guaranteed to bring economic growth in the long run.
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