The Lexington Ledger: Congressman Joe Wilson shows renewed optimism on Tax Day after visiting Lexington County & SC-2 businesses last year
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There are few things more frustrating than getting ready for Tax Day. Families and individuals across the country and the Second Congressional District of South Carolina have to file income tax returns to the federal government in order to prepare for the dreaded April 15th.
However this year there is something different, something better about our tax code. In 2018, Americans witnessed a great change in our tax code thanks to the historic, pro-growth Tax Cuts and Jobs Act. Today, our country is still seeing improvements after these tax cuts were enacted. Congressional Republicans and President Donald Trump have an overarching objective: for you and your family to have first say over your paycheck. The results speak for themselves and we are on track to achieve that goal.
Shortly after tax cuts were enacted, I had the opportunity to visit companies in the Second District who are seeing the positive results. Norman Dunagan, owner of Dumpster Depot and Whiskey Alley restaurant, was able to expand his businesses after tax cuts were enacted. Many other businesses in South Carolina announced pay and benefit increases, such as CMC Steel Company, Tidewater Boats, and Nephron Pharmaceuticals. Families across the state already started seeing their take-home pay increase.
2018 reports show that South Carolinians in the Second Congressional District are seeing an average savings of $1,062 and an $18,131 increase in take-home pay over 10 years. The National Association of Manufacturer's report shows that “nearly 160,000 manufacturing jobs were created as a result of tax reform.” That is nearly double what was accomplished the year before.
In 2019, we are seeing wage growth, specifically at the lower end of the wage scale. African-American and Latino poverty are at an all-time low, accompanied by the lowest minority unemployment numbers in history. February showed a 3.4 percent increase of average hourly earnings, which was the highest since mid-2009.
There is a renewed optimism in our economy for Americans from all walks of life. As you can see, small businesses across the Second District are able to hire more, pay more, and expand.
The best is yet to come for our state and country. If we work together, we can continue making America’s economy the, dare I say it, the greatest economy again. I remain optimistic and eager to continue supporting job growth for our communities.