TEXARKANA MAGAZINE
tax bill. A family of four in Texas, with a median income of $75,780, would see a $1,550 tax increase—roughly equivalent to nine weeks’ worth of groceries. Twenty-six million small businesses would also be hit with a 43.4% tax rate, severely impacting workers and families across the country who are already dealing with rising living costs. These looming tax hikes will impose severe financial burdens on hardworking families and small businesses, making it critical for the 119th Congress to address this before the 2025 deadline to protect taxpayers from burdensome tax increases. There are several significant components to restoring fiscal sanity to the federal government—addressing mandatory spending (which accounts for nearly 75% of all spending by the federal government annually), reigning in discretionary spending, reducing government bureaucracy and regulations, and reducing the national debt, to name a few. But maintaining the Trump Tax Cuts
is crucial for addressing these matters and ensuring long-term economic growth. Failing to act now to prevent the TCJA from expiring would be detrimental to the United States, as it will lead to tax increases that will further burden East Texans, reduce disposable income, kill growing businesses, slow down economic growth, and minimize the influence of America globally. Our innovation, entrepreneurial spirit, and hard work have always set us apart from the rest of the world. And, we need to reward and incentivize such characteristics, not tax them into oblivion. If we fail to act, Americans will face significant tax hikes in 2026. This means less liberty, and Congress cannot allow that to happen. We must take decisive steps to extend these tax cuts and ensure that taxes and regulations remain low for both individuals and businesses. I am committed to making that happen for every East Texas family. Stand with me.
Nathaniel Moran, United States Representative, Texas First Congressional District
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BUSINESS & POLITICS
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