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US Rep. George Holding: Tax reform is working
Story Date: 3/13/2018
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Source: US Rep. George Holding (NC-2nd), 3/12/18
Tax reform is working.
Let's look at what's happened in the last couple of months. First, middle and working-class families have more money in their pockets because we cut taxes. That’s important for people living paycheck-to-paycheck. We also increased the standard deduction and kept popular itemized deductions – like mortgage interest – in place. That means the average family in the Second District will see their taxes cut by roughly $2,250.
Second, we’ve seen companies all over the country – more than 430 of them – announce raises, bonuses, and other benefits for their workers. In North Carolina, companies as large as Ally Financial and Bank of America – who awarded bonuses to their employees – and companies as small as Benchmark Auto Sales in Asheville – who announced their employees would receive 100% employer provided healthcare – all credit tax reform for those decisions.
The economy is getting better, but more work remains to be done. It’s time to reform our welfare system – so that able bodied people work for their welfare benefits. By encouraging workfare, not welfare, we can help people work themselves off of government assistance and build better lives.
In the coming months, I remain confident our new tax code will continue to help hardworking Americans, encourage people to start a business, and create more jobs for North Carolinians.
Sincerely,
George Holding
Member of Congress
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