The American economy is enjoying a period of economic prosperity, and a strong majority of Americans are confident in our economy again.

Passing once-in-a-generation tax reform is a key driving force behind this recent growth. The Tax Cuts and Jobs Act lowered taxes for American families and also put into place a globally competitive corporate tax rate of 21 percent that is helping create jobs, grow wages, and increase business investment across the country.

Here’s how:

  • More than 800 American job creators used their tax cut savings to invest in their workers through higher paychecks, bonuses, expanded retirement and parental benefits, tuition assistance, new jobs, and lower utility rates. 
  • Companiesjobs, and cash are flowing back from overseas. In 2018, businesses brought more than $500 billion in overseas profits back to the U.S.

Even with a roaring economy, some lawmakers are proposing to roll back tax reform, which would hike taxes for American families and job creators. Nonpartisan organizations are cautioning against a tax hike:

  • The Congressional Budget Office warned, “Raising the corporate income tax rate…could slow down economic growth and wage increases.”
  • According to the Tax Foundation, a corporate rate hike to 25 percent “would reduce GDP by more than $220 billion and result in 175,700 fewer jobs.”

Pro-growth tax reform continues to create opportunities for American families, workers, and job creators. This nation cannot afford a return to a slow-growth, high-tax era.