“Tax Reform Means Your Paycheck Will Grow”
December 21, 2017
[Madison, WI] — House Speaker Paul Ryan is fighting to give Wisconsin families a break from Washington. With the help of Speaker Ryan’s leadership, President Trump is all set to sign into law a massive tax cut for hard-working Wisconsinites.
Read Speaker Ryan’s column in The Wall Street Journal online here or find excerpts below.
Tax Reform Means Your Paycheck Will Grow
The Wall Street Journal
Speaker Paul Ryan
December 20, 2017
The Tax Cuts and Jobs Act, which the House passed Tuesday, represents the biggest advancement for growth and opportunity in recent memory. It provides real relief to middle-income families and realizes policy goals conservatives have sought for decades.
The centerpiece of the bill is the most sweeping pro-growth reform of our tax code since the Reagan era—perhaps ever. Once President Trump signs it into law it will deliver more jobs, fairer taxes and bigger paychecks for Americans from all walks of life.
This is about helping a middle class that has been squeezed by a tax code that is expensive, complicated and skewed toward special interests. Nearly 8 in 10 Americans live paycheck-to-paycheck; nearly half say a $500 surprise bill or emergency would put them in debt.
Taxpayers will get significant relief soon. A family of four earning the median income of $73,000 can expect a $2,059 tax cut. The Internal Revenue Service has announced that it will adjust its withholding tables as soon as February. With less money withheld, paychecks will be bigger in a matter of weeks.
The bottom line is that this bill will help you earn more and keep more of what you earn.
Moments like this come along once in a generation. This is conservative reform at its best: applying our founding principles of liberty, limited government and free markets to the most pressing challenge of the day. We are delivering relief to those who have struggled for too long under an antiquated system. And we are keeping our promise to the American people by giving them the tax cut—and tax code—they need and deserve.