Scalise: 90% of Americans to see higher pay soon

Dave Cohen, WWL First News early edition
January 11, 2018 - 2:27 pm
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Today House Majority Whip Steve Scalise released reports that his office says confirms that 90% of American workers will see bigger paychecks from The Tax Cuts and Jobs Act by next month.

"Today the Treasury Department and the Internal Revenue Service (IRS) confirmed what Republicans have been saying for months." the Metairie Republican noted in a news release.  "New tax withholding tables under the newly enacted Tax Cuts and Jobs Act that will result in 90% of wage earners seeing a bigger paycheck as a result of lowered taxes. Employers must implement the new withholding tables by February 15 of this year."

Scalise's office says this news comes as more than two million American workers have received news of bonuses, pay raises, and increased benefits from over 150 companies that have passed on their savings under this bill to their employees, and as utility companies across the country lowering rates for consumers.

The news release also quoted Treasury Secretary Steve Mnuchin, "With this guidance, most American workers will begin to see bigger paychecks. We estimate that 90 percent of wage earners will experience an increase in their take home pay. The Administration’s monumental tax reform legislation continues to provide economic benefits for hard-working Americans. These tax cuts will ensure that American workers are able to keep more of their hard earned income and decide how to spend, invest or save it."

To see the full announcement from the Treasury Department, click here...

To see the announcement from the IRS, click here...

To see the new withholding tables, click here...

To see an FAQ document on the new withholding tables, click here...

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