02.05.18

Capito, Jenkins, McKinley, Mooney Welcome More Positive Tax Reform News for West Virginians

West Virginia state auditor reports state employees expected to keep an additional $50 million per year

WASHINGTON, D.C. – U.S. Senators Shelley Moore Capito (R-W.Va.) and U.S. Representatives Evan Jenkins (R-W.Va.), David B. McKinley (R-W.Va.), and Alex Mooney (R-W.Va.) today welcomed an announcement from West Virginia State Auditor John B. “JB” McCuskey that state employees are expected to collectively receive an additional $50 million in their paychecks per year because of the Tax Cuts and Jobs Act. The money comes from a reduction in tax withholding made possible by reforms in the new tax law—which Senator Capito and Representatives Jenkins, McKinley, and Mooney helped pass last year.
 
“I supported the Tax Cuts and Jobs Act because I knew what a positive difference it would make in the lives of West Virginians and how it would help workers, families, and small businesses in our state. Today’s announcement is another example of the incredible benefits hardworking West Virginians are going to see because of comprehensive tax reform, and I’m certain that this is just the beginning. I can’t wait to see even more good news made possible by pro-growth reform and our new tax law,” Senator Capito said.
 
“Tax reform is good news for West Virginia’s hardworking men and women. Every day we hear example after example of employees keeping more of their hard-earned money. Thanks to Auditor McCuskey, we now know that’s the case for our state employees too. The Tax Cuts & Jobs Act I helped pass in Congress means over $50 million less will be taken out of employees’ paychecks in federal taxes. Less taken out in taxes means more money in employees' pockets. I believe West Virginians should keep more of their money and send less of it to Washington,” Representative Jenkins said.
 
“Today, we're seeing the tremendous effects of the tax reform Congress passed in December. Almost $51 million in reduced withholdings for our dedicated state workforce will provide a huge boost for our local economy,” Representative McKinley said. “But this is just the beginning. West Virginians will see even greater savings when they file their taxes and find they have a doubled child tax credit, a nearly doubled standard deduction, and they can still claim the mortgage interest deduction.”
 
“President Donald Trump and Republicans have delivered real conservative tax reforms that are increasing wages and helping businesses expand. West Virginia taxpayers will save $51 million dollars and the Republican passed tax cuts are already making a big difference for hard-working West Virginia families. President Trump has been a true leader on delivering tax relief for all Americans and I look forward to continuing to work with him to create more jobs and keep our economy growing,” Representative Mooney said.
 
“As our state slowly turns a financial corner, federal tax reform should provide a needed boost, adding more than $50 million into the pockets of our amazing state workforce and thus back into the state’s economy. This is money that will be spent in West Virginia small businesses, who we know are the true driver of our economy,” McCuskey said.
 
Today’s announcement is the latest in a wave of announced benefits made possible by comprehensive tax reform—including wage and salary increases, bonuses, public utility rate reductions, and significant business investments. Last week, Senator Capito and Representative Jenkins joined Vice President Mike Pence and U.S. Commerce Secretary Wilbur Ross at Worldwide Equipment in White Sulphur Springs, West Virginia, to help announce that the company will be investing $8 million in the business and giving bonuses to workers because of tax reform.

 

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