John Thune Celebrates Passage of GOP Budget Focused on Tax Relief and Economic Growth

Permanent Tax Relief for Americans

• 🏛️ Republicans have delivered legislation to fulfill promises of permanent tax relief for hardworking Americans, building on the 2017 Tax Cuts and Jobs Act.
• 💰 The bill permanently extends all individual tax relief, including lower tax rates for every income level, an enhanced child tax credit of $2,200 linked to inflation, and a higher standard deduction.
• 📈 New provisions include no tax on overtime or tips, an even bigger standard deduction for seniors, and new investment accounts for the next generation.

Economic Growth and Small Business Support

• 💼 The legislation aims to get the economy moving again by making the 2017 pro-growth tax reforms permanent, including lower rates for small and medium-sized businesses.
• 🚜 It includes full expensing for new factories and improvements to fuel economic growth and supports investment in Made in America goods and jobs.
• 🌾 The bill bolsters programs for farmers and ranchers by raising reference prices, expanding crop insurance, and supporting risk management and disaster assistance.

Enhanced National Security and Border Protection

• 🛡️ Republicans are making America more secure by investing in border security, including finishing the border wall, hiring more border agents, and enhancing capacity to detain and deport criminal illegal immigrants.
• 🚀 The legislation makes a major investment in national defense, boosting shipbuilding, expanding the Air Force fleet, and investing in drones and counter-drone technology.
• 🏭 It aims to restore defense production capacity to manufacture more munitions in America and protect the homeland with missile defense and nuclear modernization.

Energy Security and Government Reform

• ⛽ The bill helps ensure a reliable and affordable energy supply for the long term, contributing to America's energy security.
• ⚖️ Republicans are delivering on promises of a smaller and smarter government, achieving $1.5 trillion in deficit savings, including the first real entitlement reform in decades.
• ✅ Senator Thune expresses pride in Republicans delivering on their promises and anticipates the policies will help build a safer, stronger, and more prosperous country.