Western South Dakota News

U.S. Senate Majority Leader John Thune of South Dakota addressed the Senate regarding a budget resolution aimed at making the Trump tax cuts permanent. Thune's objective is to solidify the tax relief measures from the 2017 Tax Cuts and Jobs Act, along with significant investments in border, national, and energy security.

Thune stated, "This resolution is the first step toward a final bill to make permanent the tax relief we implemented in 2017 and deliver a transformational investment in our border, national, and energy security – all accompanied by substantial savings measures and commonsense reforms to our government."

Addressing opposition from Democrats, Thune argued, "In fact, the Washington Post fact-checker has repeatedly issued three- and four-Pinocchio responses to Democrats’ claims, which center around the falsehood that the Tax Cuts and Jobs Act was about handouts to corporations and billionaires."

Thune emphasized that working families, rather than wealthy individuals, benefitted the most from the tax cuts. He reiterated, "The truth is that not only did the Tax Cuts and Jobs Act cut tax rates for every income group, but it was working families, and not the wealthy, who received the greatest proportional benefit."

The budget resolution includes current policy baselines, a point of contention among Democrats. Thune pointed out, "The senior senator from Vermont, who caucuses with the Democrats, confirmed that it's the chairman’s role in a 2022 report when he was chairman of the Senate Budget Committee."

He cited historical precedence where Democrats themselves used similar baselines, stating, "Chairman Muskie, a Democrat from Maine and chairman of the Budget Committee, used a current policy baseline in his budget resolution because he thought it represented a more realistic benchmark."

Highlighting the resolution's economic benefits, Thune explained that making the 2017 tax cuts permanent would avert a $2.6 trillion tax increase for those earning under $400,000 and a $600 billion tax hike on small businesses.

He assured, "Republicans believe fundamentally that Americans know best what to do with their money. And so no matter how many times Democrats attempt to distort or outright lie about what we’re trying to do here, Republicans intend to deliver a permanent extension of the tax relief that we passed in 2017."

Thune concluded by underscoring the economic impact of permanent tax cuts, citing reports that predict job creation and an increase in the gross domestic product, which could boost federal revenues by approximately $3 trillion.

"We are here to make sure that hardworking Americans have more breathing room – to make sure that our economy is providing them with jobs and opportunities, that they are not facing lower paychecks next year," Thune said.