U.S. Senator John Cornyn (R) recently highlighted the benefits of the One Big Beautiful Bill, also known as the Working Families Tax Cuts, arguing that the legislation will help Texans manage higher costs following what he described as historic inflation under the Biden Administration.
"In November, the American people delivered a clear message that the Biden administration, which presided over a 40-year high inflation, was taking the country in the wrong direction," said Cornyn. "Everything cost more than 20% more from the time President Biden took office to the time he left."
Cornyn emphasized that the legislation prevents a significant tax increase by making the lower individual tax rates from the 2017 Tax Cuts and Jobs Act permanent. Without the bill's passage, those rates were set to expire at the end of the year.
"Twelve million Texas families who claim the standard deduction each year would have had to pay an additional $7,450 in taxes next spring without that legislation having passed," said Cornyn. "By voting against it, they voted for a $3,000 tax increase on most families back in Texas."
Cornyn also highlighted healthcare provisions included in the legislation, noting that Republicans expanded access to Health Savings Accounts (HSAs).
"If you've only been listening to our Democratic colleagues, you'd be forgiven for thinking Republicans have done nothing to address the cost of health care in this country, but that's not true," said Cornyn.
Additional provisions allow employees and self-employed workers to deduct up to $25,000 in qualified tip income through 2028. Cornyn pointed to the policy as a win for service workers, referencing President Trump's "No Tax on Tips and No Tax on Overtime" initiative.
"There's still more work to be done, but I believe Republicans have delivered an important first step toward making life more affordable for the people we represent," Cornyn affirmed.
