After over 30 years of working under an outdated tax code, local businesses and folks across East Alabama and the entire country, are feeling the benefits of the Tax Cuts and Jobs Act. This important legislation passed the House with my strong support and was signed in to law by President Trump this past December.
The majority of folks will see an increase in their take home pay because of the lower tax rates and larger standard deduction. The federal tax withholding should also be less than before for most Americans. In addition to those seeing a bigger paycheck, over three and a half million Americans, as of writing, have received a bonus or raise as a direct result of the tax reform bill. Companies in the United States have distributed over $3 billion in bonuses.
In the Third Congressional District, Russell Lands in Alexander City, gave $500 to each of its 500 employees after the bill became law. Recently, I visited Russell Lands Chairman Ben Russell and his employees to congratulate them. I also spoke on the House Floor to recognize this exciting news. Folks in Russell County are also benefitting from the legislation. Just over the Georgia line in Columbus, AFLAC, Synovus and Total System Services each gave their employees bonuses because of the bill. Further, Regions Bank in Birmingham, Cogent Building Group in Point Clear and DTI in Mobile have also given bonuses to their employees.
These bigger paychecks and bonuses can help families save for their kids’ college tuition, get a new washing machine or make a car payment. The money going back in folks’ pockets represents opportunity. As I said on the House Floor last week, “I don’t think you would ever hear the employees at Russell Lands calling their bonus: ‘crumbs.'”
I would love to hear how this historic tax reform is helping you. Please sign up for my e-Newsletter by visiting www.mikerogers.house.gov. To stay up to date, you can also like me on Facebook at Congressman Mike D. Rogers, follow me on Twitter, Pinterest and Instagram at RepMikeRogersAL, on Tumblr at www.repmikerogersal.tumblr.com and you can also subscribe to my YouTube page at MikeRogersAL03.