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CONCORD, N.H.—Americans for Prosperity-New Hampshire (AFP-NH) on Tuesday responded to President Trump’s first State of the Union address, highlighting the benefits reaped by taxpayers across the nation and in the Granite State.
“Tonight, we were reminded what can happen when we prioritize American workers and families. We are already seeing the effects of the federal tax reform efforts sweeping across the country, as more and more employees across the country are getting bonuses and seeing more in their paychecks,” said AFP-NH State Director Greg Moore. “New Hampshire would do well to take a page from that playbook and work to enact meaningful reforms that could bring even greater economic freedom and prosperity for Granite Staters.”
In his address on Tuesday, the President highlighted the benefits of the Tax Cuts and Jobs Act:
“…we nearly doubled the standard deduction for everyone. Now, the first $24,000 earned by a married couple is completely tax-free. We also doubled the child tax credit.
A typical family of four making $75,000 will see their tax bill reduced by $2,000 — slashing their tax bill in half.
This April will be the last time you ever file under the old broken system — and millions of Americans will have more take-home pay starting next month.
We eliminated an especially cruel tax that fell mostly on Americans making less than $50,000 a year — forcing them to pay tremendous penalties simply because they could not afford government-ordered health plans. We repealed the core of disastrous Obamacare — the individual mandate is now gone.
We slashed the business tax rate from 35 percent all the way down to 21 percent, so American companies can compete and win against anyone in the world. These changes alone are estimated to increase average family income by more than $4,000.
Small businesses have also received a massive tax cut, and can now deduct 20 percent of their business income.”