Speaker Paul Ryan Celebrates Tax Cuts and Jobs Act Passage
Christmas is coming early for the American people.
Republicans made a promise to you that, if elected, we would pass historic tax reform, and put America back in the lead again. Today, Congress kept that promise by passing the Tax Cuts and Jobs Act. That means that a typical family of four making $73,000 will get a tax cut of $2,059 next year.
Big things like this cannot happen without an enormous team effort, and I want to thank President Trump and his administration for their help in getting historic tax reform across the finish line. It's only been a few hours since the vote, and already, companies are announcing new investments and new raises for their employees.
AT&T is giving 200,000 employees a $1,000 bonus and investing $1 billion more in the U.S. economy.
Boeing is going to make a $300 million investment.
Wells Fargo and Fifth Third Bancorp are both hiking minimum wage pay to $15/hour.
Comcast just announced $1,000 bonuses to 100,000 non-executive employees.
This is only the beginning.Tomorrow at 11:30am ET, I will sign the Tax Cuts and Jobs Act and send it to the White House. Once the president signs it into law, American taxpayers will finally be able to keep more of their hard-earned money.