U.S. Senate Majority Leader John Thune (R-S.D.) addressed the Senate, highlighting recent legislative achievements by Republicans that he says fulfill promises made to Americans ahead of last year’s elections.
Thune stated that Republicans pledged to address economic concerns, strengthen national security, and provide support for working families. He noted that new legislation passed last week aims to deliver on these commitments, starting with making permanent the individual tax relief provisions from the 2017 Tax Cuts and Jobs Act. Without congressional action, much of this act would have expired this year.
“Mr. President, we were determined not to let that happen – not next year, not ever,” Thune said. “And I am proud that our bill permanently extends all of the individual tax relief from the Tax Cuts and Jobs Act.”
He outlined several features of the new bill: “That means lower tax rates for every income level – permanently. An enhanced $2,200 child tax credit that’s now linked to inflation. And the higher standard deduction.”
Additional measures include no federal tax on overtime or tips, a larger standard deduction for seniors, and new investment accounts aimed at helping younger Americans save.
“In a word, the American people will be able to keep more of their hard-earned money instead of sending it to the federal government in Washington,” Thune added.
The legislation also targets economic growth by making permanent certain business-friendly reforms from 2017 and expanding incentives for small businesses and farmers. It includes full expensing for new factories and improvements as well as an increased threshold for estate taxes affecting family-owned farms and businesses.
“Agriculture is the lifeblood of this country,” Thune remarked while detailing support measures such as higher reference prices for commodities, expanded crop insurance coverage, risk management tools, disaster assistance programs, conservation efforts, research funding, and disease prevention initiatives designed to help agricultural producers facing challenging conditions in recent years.
National security measures are another focus area in the bill. According to Thune: “We are ending the era of open borders by making a generational investment in border security.” The bill funds completion of border barriers, increases hiring for border agents and ICE officers with resources aimed at detaining and deporting criminal immigrants living illegally in the U.S., and enhances capacity to prevent illegal drugs from entering the country.
Thune emphasized investments in defense production capabilities—such as shipbuilding; expansion of air fleets; development of drone technologies; missile defense; nuclear modernization—and efforts intended to reverse readiness shortfalls within America’s armed forces.
He also highlighted energy policy components designed “to ensure that America has a reliable and affordable energy supply for the long term.”
The legislation seeks $1.5 trillion in savings through what Thune described as Byrd-compliant measures including entitlement reforms intended to improve sustainability without reducing benefits for current recipients.
“Mr. President, I am proud that Republicans are delivering on our promises to the American people,” Thune concluded.
Alerts Sign-up