Investing in Jobs and Our Communities
by Kevin Brady on March 1, 2019 at 10:26 AM
“Doesn’t she know how tax refunds work?”
That’s what I heard repeatedly from folks I visited this past week while traveling my nine-county congressional district. They were referencing a Democratic presidential candidate from California who – like others in her party and many media “experts” – shamelessly peddled the claim that smaller tax refunds means higher taxes.
It was quickly debunked. The Washington Post called the claim “misleading and nonsensical.” My constituents here in Texas know: Your tax refund has zero to do with your overall tax bill. It merely represents how much you overpaid the IRS last year in your paycheck.
Most American families live paycheck-to-paycheck. They need tax relief now, which is why 90 percent of workers started seeing their tax cut in their paychecks starting last February. We designed it that way so workers wouldn’t have to wait a year to keep more of what they earn. And if they want more to be held back, they can decide for themselves by simply adjusting their withholding at work.
You can learn more about how your tax burden went down under the Tax Cuts and Jobs Act at the website taxfoundation.org/tax-calculator. And many taxpayers qualify to file for free at the IRS. Learn more here - www.irs.gov/filing/free-file-do-your-federal-taxes-for-free.
I toured several manufacturing plants in my East Texas district this week - including Darling Ingredients in Grapeland, Eastern Shore Forestry Products in Crockett, and Trinity Steel in Trinity. They are new manufacturing plants investing tens of millions of dollars into our rural communities, and creating much-needed good-paying jobs. Two are looking to expand and grow even more, which is exciting.
One of the CEO’s told me how the new Tax Cuts and Jobs Act I authored had enabled them to make major equipment and technology investments, helping them hire more workers and meet the needs of their growing customers.
Their company’s ability to immediately write-off these investments allowed them to get their new facility up and running. “It’s why we’re here - we could invest in all this right now to grow,” he said.
Families and communities are being transformed because of these new opportunities. I congratulate the local leaders who worked hand-in-hand with these businesses to help them bring new jobs into the area.