Western South Dakota News

U.S. Senate Majority Leader John Thune addressed the Senate floor, outlining key priorities for Senate Republicans in their reconciliation bill. The focus is on extending tax relief measures from 2017 and preventing a significant tax increase for Americans earning less than $400,000.

Thune emphasized the urgency of action, stating, "if we don’t act, Americans making less than $400,000 will face a $2.6 trillion tax hike next year." He also highlighted the potential impact on small businesses with a projected $600 billion tax hike.

The proposed legislation aims to make permanent the lower individual rates established during President Trump's administration. Thune stated, "Hardworking Americans should not have to worry about tax hikes every few years."

Additionally, the bill seeks to solidify small business tax relief measures like bonus depreciation and the Section 199A deduction. According to Thune, "making the small-business Section 199A deduction permanent would result in the creation of an additional 1.2 million jobs annually."

Beyond tax issues, the bill addresses border security and military readiness. It proposes investments in border security infrastructure and personnel as well as enhancements to military capabilities.

Energy policy is another focal point with plans to boost American energy production for a stable supply. Fiscal responsibility through savings measures is also part of the agenda.

Thune concluded by asserting that these initiatives aim to create "a stronger and a more secure America."