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Arrington Discusses Economic Impact of the Tax Cuts and Jobs Act

WASHINGTON, D.C. – Today, Representative Jodey Arrington (TX-19) joined his Republican colleagues on the Ways and Means Committee to discuss the need to make permanent the Tax Cuts and Jobs Act’s (TCJA) tax reductions on individuals, small businesses, and agriculture producers.

“Our free-market, pro-growth policies of less government and more freedom created a situation where people's real wages and family income grew by about $5,000 a year,” said Rep. Arrington. “Now, all of these big government interventionist policies — in the middle of a recession — have made real wages drop by $5,000… the Biden Administration’s failed economic policies are pummeling the American people and reducing economic growth.” 

 Background on the Tax Cuts and Jobs Act:

  • The Tax Cuts and Jobs Act was an historic pro-worker, pro-growth tax reform that ushered in an economic boom and lowered taxes for Americans across all income brackets.
  • Many provisions for families and small businesses included in the TCJA are set for expiration or will soon to phase out and it’s a priority for Republicans on the Ways and Means Committee and in Congress to lock in TCJA tax cuts.  
  • Republican tax reform led to the lowest unemployment rate in 50 years. American workers also enjoyed the fastest wage growth in more than a decade.
  • Lower-wage workers won big, with 50 percent higher wage growth than high-income workers.