President Trump signed the Tax Cuts and Jobs Act, the historic tax reform plan passed by Congress. As a member of the Senate tax-writing committee, Sen. Dean Heller played a pivotal role in crafting the plan and getting it to the president’s desk. The bill includes Heller’s amendment to double the child tax credit from current law, as well as his measure to make it easier for startups and businesses to give employees an ownership stake in their company’s success by awarding stock options.
According to the non-partisan Joint Committee on Taxation, every income category of Nevada’s roughly 1.4 million filers will receive a tax cut.
Before the president even signed the bill today, several companies that employ Nevadans announced they will be increasing wages and awarding bonuses because of the bill’s passage. AT&T, who employs 1,200 Nevadans, will give $1,000 bonuses to over 200,000 employees and invest $1 billion in U.S. capital expenditures.
Nevada employer Bank of America is giving employees a bonus, and Wells Fargo will raise their minimum wage to $15 an hour and also award bonuses. Another, Boeing, will invest $300 million in employee-related and charitable investments.
And analysts predict this is just the beginning.
According to the House Ways & Means committee, an average family of four in Rep. Jacky Rosen’s district will see a tax cut of $2,501. As the rookie congresswoman campaigns to represent all Nevadans, she now has to answer why she sided with Nancy Pelosi and chose the status quo over hardworking families.
“Jacky Rosen showed why she was Harry Reid’s top recruit when she voted against these wage increases, as well as the middle-class tax relief thousands of families will begin to see in February,” Heller campaign spokesman Keith Schipper said. “Thanks to Dean Heller’s leadership, hardworking Nevadans are getting the relief they need and a tax cut they deserve.”
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