07.04.26

Celebrating One Year of the Working Families Tax Cuts

As Americans Celebrate the 250th Anniversary of Our Country’s Founding, They Can Also Celebrate One Year of Safer Streets, More Money in Their Pockets, and New Opportunities to Get Ahead - Thanks to Republicans’ Transformative Legislation

REPUBLICANS WERE DETERMINED TO PREVENT A $4 TRILLION-PLUS TAX INCREASE – AND DELIVERED PERMANENT TAX RELIEF

“This is designed to help working Americans, people who are getting up every day, going to work – and this gives them some relief.” – Senate Majority Leader John Thune (R-S.D.) (6/18/25)

“This bill prevents an over-$4 trillion tax hike and makes the successful 2017 Trump tax cuts permanent, enabling families and businesses to save and plan for the future.” – Senate Finance Committee Chairman Mike Crapo (R-Idaho) (6/16/25)

“Over the next year, the economy will grow and people will be able to feel the effect and the practical impact for their family…” – Sen. James Lankford (R-Okla.) (8/17/25)

  • “Without this consequential piece of legislation, tax filers would currently be feeling the expiration of the 2017 Tax Cuts and Jobs Act and hit with a $5 trillion tax hike. Instead, 97% of filers received a tax cut this past filing season.” (U.S. Department of the Treasury: New Analysis: The Working Families Tax Cuts Delivers the Largest Share of Tax Relief to American Families and Workers – 6/2/26)
  • “The Department of the Treasury’s new analysis of this past tax filing season confirms President Trump’s Working Families Tax Cuts delivered the largest share of tax relief directly to millions of low- and middle- income Americans providing for their families, working overtime, living on fixed incomes, and running small businesses.” (U.S. Department of the Treasury: New Analysis: The Working Families Tax Cuts Delivers the Largest Share of Tax Relief to American Families and Workers – 6/2/26)
  • “Nearly every person who filed taxes this year received a tax cut, coming to a whopping $82 billion in relief, according to the Treasury Department.” (New York Post: Almost every US tax filer got a cut this year, coming to $82B in relief: Treasury Department – 6/2/26)
  • “Filers earning between $50,000 to $100,000, who claimed one of President Trump’s signature tax cuts, received an average tax cut that is over $815.” (U.S. Department of the Treasury: New Analysis: The Working Families Tax Cuts Delivers the Largest Share of Tax Relief to American Families and Workers – 6/2/26)
  • “Filers making less than $100,000 per year made up:
    • “90 percent of people claiming the tax deduction for tipped wages”
    • “75 percent of people claiming the overtime deduction”
    • “62 percent of people claiming the deduction for the interest on loans for American-made cars”
    • “68 percent of people claiming an enhanced deduction for seniors” (The Washington Post: Treasury Dept. says most filers claiming Trump tax breaks on tips, overtime made below $100,000 – 6/2/26)

THERE ARE MORE BENEFITS TO COME: TODAY, TRUMP ACCOUNTS GO LIVE, WHICH PROVIDE MILLIONS OF AMERICANS WITH A FINANCIAL HEAD START

“The Trump Accounts app delivers a simple, secure way for households to begin engaging with a program designed to build long-term financial strength from day one.” – Secretary of the Treasury Scott Bessent

  • Trump Accounts “have attracted a wave of interest from eligible families who want to claim the $1,000 government contribution for children born between 2025 and 2028.” (CNN: How Trump Accounts compare to other savings plans for your child – 6/27/26)
  • “Parents, relatives, friends and employers may, combined, contribute up to $5,000 per year, which can accelerate your child’s savings long before they start working. Contributions from governments or nonprofits do not count against that limit.” (CNN: How Trump Accounts compare to other savings plans for your child – 6/27/26)
    • There are 44 million American families with children under the age of 18 that are eligible for Trump Accounts. (U.S. Department of the Treasury: Trump Accounts Jumpstart the American Dream – 1/22/26)
    • “The accounts can be a good idea even for parents whose children don’t qualify for the free $1,000 in federal money, since employers, charities and others can also make contributions.” (The Wall Street Journal: The App for Trump Accounts Will Launch Thursday. Here’s What to Know. – 5/27/26)
    • “As part of the $5,000 limit, employers can contribute up to $2,500 per worker per year, which won’t count as taxable income, according to the IRS. This figure also adjusts for inflation after 2027.” (CNBC: Trump accounts get supercharged by employer matches — some companies offer up to $1,000 – 1/25/26)
  • Trump Accounts address the issue of millions of Americans missing out on stock market gains:
    • As of 2025, only 62% of Americans reported owning stocks. (Gallup: What Percentage of Americans Own Stock? – 5/5/25)
    • “The percentage owning stock is highest among adults in households earning $100,000 or more (87%), college graduates (84%) and married adults (77%). By contrast, the rate is 49% among unmarried adults, 42% among those with a high school education or less, and 28% among those in households earning less than $50,000.” (Gallup: What Percentage of Americans Own Stock? – 5/5/25)
    • “Stock ownership also varies significantly by race/ethnicity, with 70% of White adults owning stock, compared with 53% of Black adults and 38% of Hispanic adults.” (Gallup: What Percentage of Americans Own Stock? – 5/5/25)

AMERICANS ARE ALSO MORE SECURE: THE WORKING FAMILIES TAX CUTS LAW STRENGTHENED OUR BORDERS AND IS HELPING MAKE AMERICAN STREETS SAFER

“[W]e’re securing the border. We’re finishing the Wall. We’re supporting federal law enforcement agents… This gives our agents the resources they need to continue deporting illegal immigrant criminals.” – Senate Majority Whip John Barrasso (R-Wyo.) (7/23/25)

“It’ll provide the administration the resources it needs to completely secure the border, and again, more effective and efficient deportations against illegals in the country.” – Senate Republican Conference Chairman Tom Cotton (R-Ark.) (5/28/25)

“[H]istoric investments to strengthen America’s border security and immigration system, something that I have long-championed, including during my many years as the top Republican on the Homeland Security Appropriations Subcommittee. This will help keep our border safe and secure.” – Sen. Shelley Moore Capito (R-W.Va.) (7/17/25)

  • “Overall, the Republican-led Congress set aside roughly $170 billion for immigration enforcement and border security efforts” in the Working Families Tax Cuts law, including “$46.5 billion to complete construction of the border wall” and “$4.1 billion to hire additional CBP personnel, including 3,000 more customs officers and 3,000 new Border Patrol agents.” (CBS News: Trump's "big, beautiful bill" gives ICE unprecedented funds to ramp up mass deportation campaign – 7/10/25; U.S. Department of Homeland Security: Secretary Noem Commends President Trump and One Big Beautiful Bill Signing into Law: Historic Win for the American People and the Rule of Law – 7/4/25)
  • The result of historic border security funding in the Working Families Tax Cuts Law? The most secure border in history:
    • For thirteen straight months, Border Patrol have released zero illegal immigrants at the border. (U.S. Customs and Border Protection: Trump administration delivers 13 straight months of zero releases at the border – 6/18/26)
    • “Southwest border apprehensions were 94% lower than under Biden: The U.S. Border Patrol’s apprehensions along the southwest border in May (9,998) were 94% lower than the monthly average of the Biden administration and 96% below its peak. These numbers are less than what was apprehended in just three days in May 2024.” (U.S. Customs and Border Protection: Trump administration delivers 13 straight months of zero releases at the border – 6/18/26)
    • “Daily average apprehensions drastically reduced: The Border Patrol’s average number of apprehensions per day along the southwest border in May (323) was 94% lower than the daily average under the Biden administration, and less than a single hour during the height of the Biden administration.” (U.S. Customs and Border Protection: Trump administration delivers 13 straight months of zero releases at the border – 6/18/26)
    • “Fiscal Year Drug Seizures: CBP has seized 56% more drugs this fiscal year through May than it seized during the same period of FY 2024.” (U.S. Customs and Border Protection: Trump administration delivers 13 straight months of zero releases at the border – 6/18/26)
    • “Fentanyl seizures increased 72% from April 2026, with 795 pounds seized in May 2026.” (U.S. Customs and Border Protection: Trump administration delivers 13 straight months of zero releases at the border – 6/18/26)