ICYMI: Chairman Arrington Statement on New Treasury Data Showing Big Beautiful Bill Tax Cuts Went to Working Families

ICYMI: Chairman Arrington Statement on New Treasury Data Showing Big Beautiful Bill Tax Cuts Went to Working Families

WASHINGTON, D.C. - House Budget Committee Chairman Jodey Arrington (R-Texas) released the following statement after the U.S. Treasury Department published new data highlighting that low- and middle-income households received the largest share of the tax relief provided by the One Big Beautiful Bill.

"After four years of Biden's cost-of-living crisis that stretched family budgets and eroded Americans' purchasing power, Republicans delivered historic, permanent tax relief through the One Big Beautiful Bill to help working families keep more of what they earn and get ahead.

Treasury's latest analysis confirms low- and middle-income households are the biggest beneficiaries of these tax cuts. Contrary to Democrats' false claims, nearly 70 percent of new tax cuts went to low- and middle-income families earning less than $100,000 a year. While Democrats voted to impose the largest tax hike in history on working families, Republicans are rewarding work, supporting job creation, and providing much-needed relief from the Biden Administration's failed economic policies.

The One Big Beautiful Bill is a win for workers, families, job creators, and the long-term prosperity of our country."

WORD ON THE STREET

From the Department of the Treasury:

Through the April tax filing deadline, American families and workers claimed $82 billion in individual relief directly from the Working Families Tax Cuts. That relief will grow as taxpayers who have filed for extensions continue to file their returns.

Without this consequential piece of legislation, tax filers would currently be feeling the expiration of the 2017 Tax Cuts and Jobs Act and hit with a $5 trillion tax hike. Instead, 97% of filers received a tax cut this past filing season, who would have otherwise owed taxes absent the extension of President Trump's 2017 tax cuts.

Data from this most recent filing season shows millions of American families and workers claimed expanded tax deductions and credits tied directly to wages, children, overtime, tips, and earned income.

The data further shows tax relief was concentrated among American families and workers earning under $200,000.

96% of filers receiving a tax cut earned less than $200,000.

Nearly 70% of filers receiving a tax cut earned less than $100,000.

No Tax on Tips: Over 7.5 million filers have claimed No Tax on Tips, with an average deduction of over $7,000.

No Tax on Overtime: Over 29 million filers have claimed No Tax on Overtime, with an average deduction of over $3,100.

Enhanced Senior Deduction: Over 35 million seniors have claimed the Enhanced Deduction for Seniors, with an average deduction of over $7,500.

Enhanced Child Tax Credit: Nearly 40 million families have claimed the enhanced Child Tax Credit, which is permanently doubled and expanded by the Working Families Tax Cuts.

Doubled Standard Deduction: Over 127 million filers (90% of all tax filers) have claimed the permanently doubled standard deduction, simplifying tax filing for millions across America.

THE BOTTOM LINE

The One Big Beautiful Bill delivered historic tax relief for millions of families and workers by allowing Americans to keep more of their take-home pay. Low- and middle-income households are seeing the largestrefunds from these tax cuts, providing much-needed relief for millions suffering from years of economic mismanagement under the Biden Administration.