Washington Times: Working Families Tax Cuts Lets Americans Keep More Earnings

As the tax filing season begins, Americans are seeing how the Working Families Tax Cuts law is providing across-the-board tax relief that promises bigger paychecks and more opportunities to get ahead.

The Working Families Tax Cuts prevented the largest tax hike in history and permanently restored key pro-growth tax provisions already driving domestic investment and economic growth. Tax rates have been lowered permanently.

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The new law also fulfills some of President Trump's signature campaign priorities, such as no taxes on tips and overtime, offering significant relief for the hourly workers who keep our communities running. Seniors are receiving new tax relief through a $6,000 bonus deduction. Health savings accounts were expanded, enabling taxpayers to save more of their money tax-free for health care expenses, while the work to address the root causes of the explosive increase in health care costs continues.

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The Treasury Department forecasts that the legislation will result in $7,200 in higher wages per American worker and a $3,750 average tax cut per filer in 2026. Overall, the department expects $100 billion in total tax refunds in 2026 for American families, and, as Treasury Secretary Scott Bessent noted, "For millions of families, such savings are the difference between making a mortgage payment, buying a car or sending a child to college."

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These new business incentives are already bearing fruit. In Rupert, Idaho, Pipeline Plastics opened a new manufacturing facility employing more than 50 people, thanks to the permanent extension of the new markets tax credit. Similar projects are popping up across America, with many more to come.

Read the full piece HERE.

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