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Read his remarks as delivered below:
Hey, TX-11, this is Congressman August Pfluger.
Today is Tax Day, and this year, I’m proud to highlight the real results we delivered for you through the Working Families Tax Cuts Act, which I supported and President Trump signed into law to help you keep more of your hard-earned money.
For starters, the average taxpayer in Texas will see a tax cut of about $4,000, thanks to the permanently enhanced standard tax deductions and lower tax rates at every income bracket. That is significant and meaningful financial relief for families, individuals, and small business owners across our state, especially compared to the 26% tax increase Americans would have faced if we hadn’t taken action.
But we didn’t stop here. We delivered broad, lasting relief for Americans from all walks of life.
For seniors, we secured a $6,000 bonus deduction for millions of eligible Americans. As a result, 88% of seniors who receive Social Security benefits will pay NO TAXES on those benefits this year.
For workers, we eliminated taxes on tips and overtime! This means an average take-home pay boost of $1,300 for nearly four million tipped workers and $1,400 for over 80 million hourly workers.
For new and expecting parents, we created Trump Savings Accounts, including a $1,000 Treasury-funded deposit for all newborns. These accounts can significantly grow over time with additional contributions from employers, donors, and family members to jumpstart your child’s financial future.
For growing families, we expanded the Child Tax Credit to $2,200 per child, and increased access to the Adoption Tax Credit, with up to $5,000 now refundable to support families who adopt.
For small businesses, we made the 199A small business deduction permanent at 20%, along with full expensing for new capital investments, domestic research and development, and key improvements. These are huge wins for Main Street America and will help businesses grow, hire, and compete in today’s market.
And for rural communities, we doubled the death tax exemption to $15 million for individuals and $30 million for married couples, helping protect millions of family-owned farms, ranches, and small businesses for generations to come. We also expanded opportunity zones and improved access to affordable lending for farmers and ranchers
We accomplished all of this, and MORE, to deliver real wins for the American people.
So this Tax Day, you don’t have to dread filing. As you prepare for your return, I encourage you to speak with a tax professional to make sure you’re taking full advantage of these benefits.
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