Quote My Administration is working every day to lift the burdens on our companies and on our workers so that you can thrive, compete, and grow.

DELIVERING FOR HARDWORKING AMERICANS: Helping hardworking Americans is a guiding principle of President Donald J. Trump and his tax cuts are delivering.

Nationwide, more than 2 million workers have had a “Trump Bonus” or “Trump Pay Raise” announced as a direct result of the Tax Cuts and Jobs Act. The Council of Economic Advisers projects that annual income for American households will increase by an average of $4,000.

President Trump’s tax reforms provide $3.2 trillion in net tax cuts to American families, with every income group seeing a tax cut.

The standard deduction has nearly doubled for many Americans, with levels now at $12,000 for individuals, $18,000 for single parents, and $24,000 for married couples.

The Child Tax Credit has increased by $1,400 for children under the age of 17. The full Child Tax Credit will now be available for families with incomes of up to $200,000 for single taxpayers and incomes of up to $400,000 for married couples. A $500 non-refundable tax credit has been created for dependents aged 17 or older who do not qualify for the Child Tax Credit.

Middle-income families are no longer forced onto the Alternative Minimum Tax, with the income phase-out level for exemptions increasing to $500,000 for single households, and $1 million for married couples.

Popular itemized deductions have been retained, such as the mortgage interest deduction for newly-purchased homes of up to $750,000, and the deduction for charitable giving.

Important benefits have been left intact, including the EITC for low-income workers, the deduction for teachers’ out-of-pocket classroom expenses, and the adoption expense tax credit.

DELIVERING FOR MANUFACTURERS: American manufacturers are optimistic like never before, because President Trump’s tax cuts and relief make them more competitive.

The National Association of Manufacturers credits President Trump’s “bold, comprehensive tax reform” with driving optimism among their members to “unprecedented heights.” NAM’s Manufacturers Survey found Q4 2017 optimism levels at “the highest [point] in the survey’s 20-year history.”

The Council of Economic Advisers estimates that these tax cuts will ultimately grow the economy an additional 3 percent.

S corporations, partnerships, and sole proprietorships will be able to deduct 20 percent of their qualified business income.

America’s corporate tax rate was cut from the highest among developed economies to 21 percent, well below the average.

Businesses will be able to deduct 100 percent of non-structure capital investment costs for the next five years.

As the benefits of tax reform become clearer to businesses, employees across America are receiving raises, bonuses, and increases to their benefits.

Chrysler has announced that the tax reform has so improved the U.S. business climate that, in addition to giving $2,000 bonuses to its U.S. employees, it will move truck production from Mexico back to the U.S., creating 2,500 new American auto manufacturing jobs.

THE TRUMP BUMP IN PENNSYLVANIA: President Trump has delivered tax cuts for the Keystone State, restoring economic optimism and opportunity to businesses and residents.