Ted Cruz Shares 7 Biggest Christian Conservative Victories Since Trump Took Office
3. Tax cut
Last December, the Republican-led Congress passed the most significant tax overhaul in three decades. The tax bill, conservatives say, will lead to more money being in the pockets of families.
"Cutting taxes on small businesses, cutting taxes on farmers, cutting taxes on ranchers, cutting taxes on families, doubling the standard deduction, What does that mean?" Cruz asked. "For a couple, standard deduction goes from $12,000 to $24,000. That means next year, 90 percent of Americans will be able to fill out your taxes on a postcard."
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He pointed out that under the new tax bill, marginal tax rates are reduced in every bracket.
"We saw over 4 million Americans get pay raises, get bonuses because of the tax cut of $500, $1,000, more than $1,000. I was flying a few months ago on Southwest Airlines and a flight attendant walked up to me, hugged me and said 'Thanks for the pay raise.'"
Cruz argued that one of the most integral parts of the tax cut was the doubling of the child tax credit from $1,000 to $2,000 per child per year.
"If you have three kids, that is an additional $3,000 in your pocket," he said. "That's the money for your daughter to get braces. That is the money for you to take your kids on maybe the first family vacation you've been on in several years to go to Disney World, or to take your kids to a summer camp or maybe to invest in a college fund or help tuition or help pay healthcare. This is real money for people who are struggling and this is a group that cares about families."
