“This year, Americans are going to see even more money in their pockets. That’s thanks to the Working Families Tax Cuts law. The average American taxpayer will see a tax cut this year of $3,500. That’s a direct effect of the law. Families in every single state are already feeling relief. Key parts of the new tax cuts went into effect on January 1. These will make life more affordable for American families.”
WASHINGTON, D.C. – U.S. Senator John Barrasso (R-Wyo.), Senate Majority Whip, today spoke on the Senate Floor to tout how the Working Families Tax Cuts Act will make America more prosperous, affordable, and successful.
Click HERE to watch Senator Barrasso’s remarks.
Sen. Barrasso’s remarks as prepared:
“Republicans ran to make our country safer and more prosperous. After one year, the Republican comprehensive economic agenda is paying off. This year, Americans are going to see even more money in their pockets. That’s thanks to the Working Families Tax Cuts law. The average American taxpayer will see a tax cut this year of $3,500. That’s a direct effect of the law. Families in every single state are already feeling relief. Key parts of the new tax cuts went into effect on January 1. These will make life more affordable for American families.
“Republicans increased the Child Tax Credit to $2,200 per child per year – permanent. That means a couple in Cody, Wyoming, with two kids will get $4,400 a year. That’s money to help buy groceries, for education, and for their children’s activities. Republicans also raised the limit in the Dependent Care Flexible Spending Account to $7,500. A working mother in Casper, Wyoming, can now set aside $7,500 pre-tax for childcare. Senator Katie Britt of Alabama championed this provision.
“Additionally, Republicans did something no Congress has ever done before. We created a guaranteed savings account for America’s children. Every child born between 2025 and 2028 receives a $1,000 investment account. A child born in Sheridan, Wyoming, will now start life with $1,000 already invested in their future. Senator Cruz led this innovative idea.
“Additionally, the Working Families Tax Cuts law protects family farmers, ranchers, and small business owners. This is vital for my home state of Wyoming and for other rural states.
“For years, farmers and ranchers told me the same thing. The Death Tax makes it nearly impossible to pass their family operations on to the next generation. Republicans delivered permanent Death Tax relief for family farmers, ranchers, and small business owners. Now, ranchers in Wheatland, in Worland, in Torrington, and in Gillette, Wyoming, can pass down their land and their livelihood without facing crushing Death Taxes from Washington.
“Every Democrat in the Senate voted against this bill. Every single one. If Democrats had their way, taxes would be going up this year by $4 trillion. Democrats supported the largest tax increase in American history. When Republicans proposed legislation to crack down on waste, fraud, abuse, and corruption in Medicaid, in Food Stamps, in government social programs every Democrat in the Senate voted no.
“That brings me to Minnesota. Yesterday, Congress exposed worrying new information about the vast extent of the massive fraud and corruption in Minnesota. Minnesota Governor Tim Walz and Attorney General Keith Ellison – who was Deputy Chair of the Democratic National Committee – are presiding over one of the most outrageous fraud scandals in recent memory. Manipulative criminals have stolen billions of dollars from federal programs – billions meant to help vulnerable Americans. Republicans voted to put more money in people’s pockets. Democrats voted to raise taxes – and voted to protect the kind of fraud we’re seeing in Minnesota.
“The Working Families Tax Cuts are part of a broader economic agenda that is already working. The numbers prove it. Today, the world’s most successful companies are investing nearly $10 trillion in America. Record investment is driving private-sector job growth, innovation, and opportunity. The economy grew 4.3 percent in the third quarter. That’s the strongest economic growth in two years. Core inflation cooled in November to 2.6 percent. Gasoline is now less than $3 per gallon in most of the country. It was $1.91 in Casper, Wyoming, when I was there on Monday. Forecasters predict prices are going to continue to fall. Real wages are on track to grow by over $1,000 this year.
“All of these successes happened because Republicans are committed to American prosperity. We cut taxes. We eliminated wasteful Washington spending. We rolled back burdensome regulations. We unleashed American energy.
“This is a 180-degree turnaround from the past four years. Under Joe Biden and the Democrats, prices rose by over 20 percent in four years. Democrats will go down in history as the Party of High Prices, High Taxes, and Open Borders.
“As Americans celebrate the 250th Anniversary of our nation, we can be confident that our country is safer, stronger, and more prosperous. With the Working Families Tax Cuts, Republicans are making sure that prosperity continues into the future.”