The Tax Cut and Jobs Act has already been an incredible success. On average Missouri families have seen savings of at least $2,000. Tax reform has greatly helped families who have struggled to make ends meet over the previous 10 years as Americans faced slow economic growth and relatively stagnant wages. Families now have new savings options to plan for education and retirement, as well as penalty-free withdrawals for childbirth and adoption.
For years, we have seen American jobs being sent overseas. In response to tax reform, U.S. competitiveness has increased and it is now possible to bring trillions of dollars back to our Nation. Under the tax code, we improved the way small business income is treated giving main street businesses and family farms immediate deductions on the full cost of new equipment, making it easier to create more jobs, and investing in our local communities.