Washington, D.C. - Congressman Renacci will deliver remarks on the House floor highlighting the success of six months of Tax Cuts & Jobs Act in Ohio and across the country.
"I want to thank my colleagues in the Ohio, Indiana, and Washington delegations for holding this special order. As a CPA, a businessman for 30 years, and a member of the Ways and Means Committee, reforming the old tax code was a top priority of mine. I know lower taxes grow our economy, create jobs, and increase paychecks.
Today, almost six months after the enactment of tax reform, over 40 Ohio businesses have already announced bonuses, increased pay, improved benefits, and plans to give more to charity.
In the 16th district of Ohio, the average family of four is experiencing a tax cut of nearly two thousand dollars. That’s real money. Before President Trump came into office, our sluggish economy was exacerbated by high federal taxes. The harsh conditions seemed unrelenting for working families all too familiar with having to survive on a very tight budget.
But thanks to the leadership of President Trump and his commitment to tax reform, I hear new stories every day of how my constituents are doing better under the new law. Just last week, I spoke to Doug Sibila, President, and CEO of Peoples Services, Inc., whos seven state operation is led out of Canton, Ohio. In recent months Peoples Services has raised pay, handed out bonuses, hired more people, and nearly doubled capital investment. All while increasing sales and margins. Stories like that of Doug and his employees are shaping the legacy of tax reform, and that’s a legacy I’m glad to have played a part in.
Again, I want to thank my colleagues for allowing me to participate in this special order, and for their continued work on this important issue. I yield back the balance of my time."