Lawmakers weigh impact of tax cut on middle class

WASHINGTON (SBG) – In rural Pennsylvania, Guy Chemical Company has hit its stride.

There are now about 160 employees there, including 29 new ones. That’s job growth the owner, Guy Berkebile, attributes to President Trump’s Tax Cut and Jobs Act

“I was paying nearly 50 percent of my income, my profits back to the government in the form of taxes and having more money in my pocket has enabled me to invest heavily,” he said in an interview Wednesday, just before providing testimony to the House Ways and Means Select Revenue Measures Subcommittee .

The focus of the hearing was on at how middle class families in America are faring.

He says his middle class employees at his company saw big bonuses are wage increases over the last year.

“They’re taking vacations, new marriages new babies some of them are paying down student loans, it just gave them financial stability to be more optimistic and spend money,” Berkebile said.

This, at a time where the United States is experiencing about a 3 percent growth rate and a 4 percent unemployment rate.

But others called to share their story expressed more concern than confidence.

Fighting off tears, Tatum Tirado, a teacher, Veteran and mother asked “How do I provide for my family or feel confident I am climbing the ladder to live the middle class lifestyle when everything gets more expensive but my salary doesn’t go up?”

A recent survey from the National Association of Business Economics found that 84% of businesses did not make changes to investment or hiring due to the new tax plan data many Democrats often bring up.

“When did you ever hear of a party cutting taxes and not running on it they ran away from it, they’re living in la la land,” said Rep. Bill Pascrell, D – N. J., a member of the subcommittee.

Lawmakera are listening to Berkebile’s and others stories because it will be up to them as to whether to make the tax cuts permanent.

After 2025, all individual tax cuts are set to expire. At the same time, corporate rate cuts were made permanent under the bill.

Cludo Reports

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