When you sent in your 2017 taxes, you filed your last return under the old tax code. Because of the historic tax cuts I helped negotiate with President Trump, next year’s bill will be significantly lower for many. In fact, the average South Dakota family of four is projected to save more than $2,400.

For me, the bottom line has always been that you work hard for your money and the federal government ought to respect that. It’s because of this foundational principle that I pushed, as one of only five House Republicans on the final negotiating team, for lower tax rates and to double the standard deduction. It’s also why I fought beside Ivanka Trump to double the Child Tax Credit and maintain the Child Care Credit. We also eliminated the marriage penalty and won key provisions for farmers, ranchers, and South Dakota job creators.

But until a person punches in the numbers, it can be difficult to conceptualize what these changes really mean. Rather than waiting for Tax Day 2019, I wanted to share a few examples of what you can expect. Let’s look at Jim and Kelsie. Both are teachers making $45,600 each, which is about average in South Dakota. The couple has two children. Under previous law, the family would owe $6,288. Because their tax rate fell, their standard deduction was doubled, and their Child Tax Credit went from $1,000 per child to $2,000 per child, Jim and Kelsie will now owe $3,683 – a $2,605 savings!

Let’s look at another example. Liz has been working in marketing for seven years. She makes around $54,000 and doesn’t have any children. Because of the historic tax cuts, Liz will get to keep an extra $100 a month from her paycheck, helping her save for a much-needed new car.

For many, the benefit on their tax returns is only part of it. Millions across the country have received bonuses, pay raises, or better benefits. Many companies – including major employers like Walmart – have increased their minimum wages. We’re seeing new companies pop up, energy costs are going down, and people are feeling more confident about the direction our country is headed in. 

At the end of the day, around 90 percent of Americans will see an increase in their take-home pay because of the tax cuts. It was the honor of a lifetime to work with President Trump to negotiate this deal and help deliver on his agenda to make taxes just a little less taxing on South Dakota families.

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