Keeping More Money in Your Pocket
FOR IMMEDIATE RELEASE | Contact: Olivia Porcaro 202-225-6165
This Wednesday, April 15th, is Tax Day – the day that individual income tax returns are due to be submitted to the federal government. So, as your Representative, I first want this to serve as a reminder to file your taxes.
Secondly, as Tax Day approaches, I am reflecting on the wins this Republican-led Congress was able to secure for the taxpayers this tax season. Through the Working Families Tax Cuts, also known as the One Big Beautiful Bill, we simplified the tax code for 91 percent of taxpayers by boosting the Standard Deduction and ending the Democrats’ unlawful Direct File design. As a result, families are not paying any taxes on the first $31,500 they make – a large jump from not paying on only the first $13,000 you made under President Obama – and individuals are not paying any taxes on the first $15,750 he or she made.
We also acknowledged that tipped-workers are some of the Americans that have been hit the hardest by the inflation inflicted due to the past administration’s far-Left spending spree. That’s why we promised, and then delivered, no tax on tips – not to mention overtime and Social Security. Now, thanks to the One Big Beautiful Bill, millions of tipped workers will get a $32 billion tax cut, proving that we are working for all Americans, not just billionaires like the Democrats claim.
As an Oklahoman, I know that agriculture is not only the heart of Oklahoma, but the heart of America – and we made sure not to leave our farmers and ranchers behind when working on this legislation either. Through the One Big Beautiful Bill, we made permanent and enhanced the doubled Death Tax exemption. As a result, the more than 2 million family farms throughout our country will now be able to pass down their acreage, equipment, and legacy to the next generation. Additionally, thanks to the 20 percent small business deduction and new credit that lowers the cost of borrowing, 98 percent of farmers and ranchers who file their taxes as pass-through entities will now be able to invest more money back into their operations.
The One Big Beautiful bill also helps the moms and dads throughout our nation working hard to support their children. Through this legislation, we have made multiple tax credits more valuable for families. For example, we more than doubled the Child Tax Credit to $2,200 per child and ensured the credit maintains its value with inflation. Without the One Big Beautiful Bill, the Child Tax Credit would have been just $1,000 per child.
Overall, the One Big Beautiful Bill means the American taxpayer is seeing the largest tax cuts in history this year. In fact, the average refund is projected to increase by $1,000 this year with a total of $91 billion in additional refunds being returned to the American people this spring. So, in conclusion, I look forward to seeing you keep more of the money you earn in your pocket.