April 15, 2019
Today is Tax Day, and Republicans at the state and federal levels are working to make this day less tough for taxpayers.
We know that every tax dollar government spends comes from you, your family and your business. We believe in being fiscally conservative with your tax dollars, governing responsibly, and returning as much of your money back to you as possible.
LOWER TAXES FOR THE PEOPLE OF IDAHO
Here in Idaho, we are ranked as the 8th-best state in the nation for Tax Freedom Day. We will continually strive for a more fiscally responsible, limited government that spends your tax dollars wisely:
In 2018, Republicans in the Idaho Legislature passed, and the Governor signed, a tax cut bill that 1) Prevented an increase in the state income tax (due to changes in the federal tax code), 2) Cut the state income tax rate for all taxpayers from 7.4% to 6.925%, and 3) Increased the per-child tax credit to $205 per child:
LOWER TAXES, ECONOMIC BOOM FOR AMERICAN WORKERS & FAMILIES
At the federal level, this year’s Tax Day is a little less painful for American workers thanks to President Trump and Republicans.
The Tax Cuts and Jobs Act has delivered for hardworking taxpayers:
- In 2018, 82% of middle class Americans saw a tax cut.
- Average savings were more than $1,260.
- Due to new IRS withholding rates, 90% of workers saw an increase in take home pay.
- Included in the Tax Cuts and Jobs Act was a 100% increase in the Child Tax Credit which has saved $104 billion for working parents and lifted 8.2 million Americans out of poverty.
The Tax Cuts and Jobs Act has sparked the economy:
- Wages are growing at the fastest rate in a decade – 3.2%
Average hourly earnings increased.
- Unemployment averaged 3.9% – the lowest yearly average since 1969.
- Nearly 2.7 million jobs were added in the year following the passage of the tax cuts, nearly a 25% increase from the previous year.
- GDP grew at 2.9% in 2018.
“The economy is growing, unemployment is down, blue-collar wage earners are growing faster than their white-collar counterparts, women have reentered the labor force.”
-Larry Kudlow, WH Nat’l Economic Council Director