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This week, Congressman Ralph Norman (SC-05) spoke on the House floor to highlight the significant impact the Tax Cuts & Jobs Act is having throughout the 5th District, and the country.
Full transcript of Congressman Norman’s remarks:
"Mr. Speaker, I rise today to tell you that the Tax Cuts and Jobs Act is working. It is working in South Carolina’s 5th Congressional District, and it is working across the country. It is working for individuals and families, who are seeing more money in the paycheck each month, and it is working for the companies who are investing the savings from Tax Reform into their employees.
“Over the past few weeks, I have spoken with and visited the businesses in South Carolina that are putting these savings right back into their local communities
"Earlier this month, LPL Financial announced that they will be investing these savings into their employees by increasing its 401(k) match to 75% and reducing the time for new hires to qualify for this match by 6 months. Mr. Speaker, this personally touches 2,000 of my constituents in the 5th District of South Carolina. That is 2,000 more families that now have a greater opportunity to save and see the light of a brighter future ahead.
“Mr. Speaker, just today I visited a UPS Store in Gaffney, South Carolina. Because of tax reform, UPS has announced over $12 billion in investments and an increase in pension funding. During my UPS visit, I put a uniform on and assisted a delivery driver during a ride along. I heard directly from the hard-working employees about how this news will impact them and their loved ones.
“Mr. Speaker, I don’t think I speak for myself when I say that we want jobs to come and STAY in America. We want businesses to expand and hire people in our communities.
"By reducing tax rates and simplifying the tax code, we are allowing companies to make these investments in their employees, in their communities, and in growing their businesses.
“I look forward to continued opportunities to learn, see, and talk about the successes of this tax reform. We promised fairer taxes, higher wages, and more jobs.
“And Mr. Speaker...we have delivered.”
View Congressman Norman’s speech here:
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