Cincinnati, Ohio – This afternoon, Congressman Jim Renacci (R-OH) welcomed the Vice President of the United States, Mike Pence, to Ohio to discuss the vast positive impact the Tax Cuts & Jobs Act has had on the state. Also accompanying the duo on the panel were Senator Rob Portman (R-OH), Congressman Steve Chabot (R-OH), and Congressman Brad Wenstrup (R-OH).
“Since this monumental legislation was signed into law last December, not only have Ohioans and their families benefited from the tax cuts through bonuses, raises, and increased benefits, but small businesses can now compete like never before with the new corporate tax rate,” said Renacci. “I am proud to be with the Vice President and my colleagues today in Cincinnati as we share this great news with my fellow Ohioans.”
Since enactment, nearly 50 companies in Ohio have rewarded their employees thanks to tax reform, with thousands of Ohioans receiving bonuses. In addition to increased compensation for Ohio workers, a typical middle-income family of four in Ohio’s 16th district is experiencing a tax cut of approximately $2,770. The Ohio worker is also in increasing demand thanks to tax reform, with an additional 45,768 jobs created over the next 10 years in Ohio due to the pro-growth legislation.