Letter to the editor: Tax act paying off
Tax Day has come and gone, but we should continue celebrating the new tax law.
Because of the Tax Cuts and Jobs Act, more than 500 U.S. employers have publicly announced wage increases, bonuses and other employee benefits. Over 4 million working Americans have reaped these benefits.
My employees are on the list. As the founder and president of Guy Chemical Co., I’m putting my tax savings to work by distributing bonuses and investing in expansion opportunities. We’re even considering a second manufacturing plant, which would bring jobs to rural Pennsylvania.
For years, I paid nearly 50 percent of my business income to the government — federal, state and local. I’ve had to take out bank loans and mortgage my house just to pay my taxes. Fortunately, those days are behind us. Instead of bankrolling Uncle Sam, job creators are now growing their businesses and rewarding their employees.
Next year, there will be even more to celebrate once Americans see savings in their entirety under the new tax code.