Budget & Spending

If Democrats had succeeded and President Trump’s Working Families Tax Cuts were not passed on July 4^th this year, families, farmers, and small businesses would have faced the largest tax increase in U.S. history. Over 210 million American taxpayers would have seen an average 22% tax hike, and the tax increase on an average family of four would have been the equivalent of almost two months’ worth of groceries. 40 million families would have also seen their child tax credit cut in half, draining dollars from budgets and wallets.

This summer, Republicans passed, and President Donald Trump signed into law, legislation that prevented the largest tax increase on American families, farmers, workers, and small businesses in history.

Had the first Trump tax cuts been allowed to expire at the end of this year, the average Iowa taxpayer would have seen a 25 percent tax hike while a family of four would have been forced to fork over an extra $1,400 — the equivalent of about eight weeks of groceries — to the federal government.

As a limited-government fiscal conservative, I strongly believe that, by responsibly cutting taxes for families, farmers, and businesses on Main Street, we can grow our economy and incentivize hard work.

As the adage goes, nothing in life is certain except death and taxes. From cradle to grave, Americans are required to pay taxes every step of the way. As Congress addresses our tax policies through the reconciliation process, we must be mindful of the death tax our family farms and small businesses face because of the loss of a loved one.

On Thursday July 3^rd, I voted to pass President Trump’s “One, Big, Beautiful Bill” and send it to his desk for his signature – making this historic legislation the law of the land. This pro-family, pro-worker, pro-growth economic package is the culmination of President Trump’s campaign promises and conservative economic principles, which will dramatically grow our economy, cut deficits, and create jobs.