By Donald Trump
USA TODAY
Paychecks
are climbing. Tax rates are going down. Businesses are investing in our great country.
And most important, Americans are winning.
A day that individuals and families, small business owners and part-time workers struggle to conquer a burdensome, complex and extremely unfair tax code to determine how much money they owe the government.
But we are changing Tax Day for
Americans across the country.
This is the last year Americans will
fill out outdated, complicated tax forms. In the years ahead, because I signed
one of the largest tax cuts in history and the most sweeping tax reform in
a generation, many Americans will complete their taxes on a simple, single
sheet of paper. Remarkably, Congress had to pass this critical legislation
without a single Democrat’s vote.
A typical family of four earning
$73,000 a year can expect to see an income tax cut of more than $2,000 when they file
their tax return in 2019 — slashing their income tax bill in half. The
standard deduction has been nearly doubled, so now twice as much income is
earned tax-free.
The tax law also doubled the child tax credit and lowers rates across the
board for hardworking families.
I made sure the IRS acted quickly to
deliver some of the benefits of this tax cut legislation to Americans.
As a
result, Americans began to see bigger paychecks as early as February. And more
savings are on the way.
America’s competitive edge has also
been restored.
We significantly cut our corporate tax rate from one of the highest in the
developed world, which means that American workers and businesses are finally
able to win again against foreign competitors. We know that when American
workers compete on a level playing field, American workers win.
We have already created 3
million jobs since the election — including more than 290,000
new jobs in manufacturing and more than 75,000 in mining and logging
jobs.
On the announcement of my signing
this historic tax reform, companies immediately started announcing thousands of
new jobs and making enormous investments in their workers. Unemployment claims have reached a 44-year low.
After years of wage stagnation, real wages are rising.
Apple will invest $350 billion in the U.S.
economy over the next five years, including $30 billion as a direct result of the tax cuts. Fiat Chrysler announced that 2,500 jobs are
coming back to near the Motor City.
And millions of American workers
received a tax cut bonus from their employers — pay
raises, more money for retirement, or bonus checks — all because of
we rolled up our sleeves, put America First, and made our tax code fairer and
simpler.
The tax cut bill is also lowering
the size of Americans’ monthly utility bills. Major electric companies
from California to Maine have credited our tax law as the reason for lowering
their prices and giving consumers a break.
This year also marks the last time
Americans will have to contend with Obamacare’s cruel individual mandate because our tax law repealed
it.
These penalties largely hit lower-income and middle-class Americans
— 80% of the penalties were paid by families making less than $50,000 per year.
We have also opened up the Arctic National Wildlife Refuge for energy
exploration — something leaders have tried to do for decades
— creating even more jobs and more energy savings. Energy exports are at a record high, and net energy imports are at their lowest level
since 1982. We are at the doorstep of energy independence.
I want every American to have good jobs,
rising paychecks and the opportunity to live a life of meaning,
purpose and joy.
That is why I insisted that the tax law also create “Opportunity Zones” that target investments in
distressed communities.
These Opportunity Zones will create more jobs in areas
of our country that need them the most and benefit those whom Washington has
too often left behind.
On this Tax Day, America is strong and
roaring back.
Paychecks are climbing. Tax rates are going down. Businesses are
investing in our great country. And most important, the American people are
winning.
Donald Trump is the president of the
United States.
