Working Families Tax Cuts make life more affordable for Iowans
Family farms, small businesses, and hardworking Iowans are the backbone of our economy and local communities. Iowa agriculture feeds and fuels our nation, small businesses keep our Main Streets vibrant, and our neighbors make Iowa truly a special place to call home. As the only Member of Congress who serves on both the House Ways and Means Committee and the House Agriculture Committee, I have continuously worked with President Trump to ensure Iowa continues to thrive and deliver results to protect our farmers, grow our local businesses, and give working families a shot at the American dream.
President Trump’s Working Families Tax Cuts Act, which I helped write, is a clear example of our work together to make life more affordable for Iowans. This law delivered the largest tax cuts in U.S. history for working families and secured other major victories for Iowa, including measures that put more hard-earned money back into the pockets of Iowa families. For example, a family of four earning up to $73,000 will pay no federal income tax, with the average tax refund increasing by as much as $1,000.
For working Iowans, these tax cuts make it easier to save for their children’s future, pay down debt, or reinvest in their farms and businesses. Iowa workers could see wage increases of up to $7,200 because of a stronger economy and provisions that I voted for like no tax on tips or overtime. As a father of four, I understand firsthand how these policies can make a difference in working families’ lives.
Farmers also saw historic victories. Many provisions we would typically pass in the Farm Bill were included in the Working Families Tax Cuts. Crop insurance was strengthened, reference prices for corn and soybeans were increased, and homegrown Iowa biofuel production was supported. This law also includes my legislation to increase the exemption for the death tax to $15 million so that our family farms can be passed from one generation to the next, and my legislation to lower the cost of crop insurance for young and beginning farmers. Additionally, we fully funded programs to protect against foreign animal disease outbreaks, keeping our livestock healthy and our economy strong.
Small businesses and manufacturers will see real results as well. The 20% deduction on qualified business income was made permanent, 100% bonus depreciation and immediate expensing were restored, and a new category of immediate expensing was established for the construction of U.S.-based manufacturing and agricultural facilities. These measures will help our Main Street businesses and manufacturers keep their doors open, hire new employees, and invest in our communities.
From family farms and small businesses to our local manufacturers and the family budget, the policies in the Working Families Tax Cuts are about growing our economy, keeping more money in Iowans’ pockets, and making life more affordable for our families, farmers, workers, seniors, and small businesses. I will continue working with President Trump and my Republican colleagues to deliver practical, pro-growth solutions that lower costs, reward hard work, and keep Iowa’s economy strong for the next generation.
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Randy Feenstra, a Republican from Hull,
represents Iowa’s Fourth District in the U.S. House.
