Portman: Good News Rolls in from Tax Reform

The Business Journal – By U.S. Sen. Rob Portman


WASHINGTON, D.C. — The tax reform legislation that became law before the first of the year was created with two goals in mind: cut taxes for middle-class families and reopen the American economy as the best place in the world to do business.

Just a few months since becoming law, the results are there, and they are real.

In January, the IRS updated how much is taken out of paychecks for taxes to reflect the tax cuts, and by February, 90% of American workers got a higher paycheck and more take-home pay. For workers in Mahoning County, and across the state, the proof is in the paycheck.

With lower tax rates and a doubling of the standard deduction and the child tax credit, middle-class families are keeping more of their money rather than it going to Washington. A median-income family of four will save about $2,000 a year on their taxes. For families in the Mahoning Valley, that extra money makes a real difference. Based on what people around the state have told me, it’s being used to help pay for regular expenses like gas, groceries, or health care; to save for retirement or to use for a much needed vacation.

The benefits of this tax reform start with families, but they extend to businesses, their employees and our economy. Good news continues to spread throughout the Buckeye State as more and more businesses respond positively to the pro-growth changes in our new tax law.

In just the past few weeks, I’ve visited eight businesses across Ohio that have announced new investments in plants and equipment, raised wages, delivered bonuses, increased retirement contributions, or expanded health care benefits as a result of tax reform.

The most recent federal jobs report shows the fastest wage growth since the 2009 recession and the most Americans entering the workforce since 1983 — and according to a recent National Federation of Independent Business survey, small business optimism is at the highest level the organization has ever recorded. Business optimism is increasing from tax reform, and businesses are paying forward benefits of this new law to workers.

I saw this firsthand in Lake County two weeks ago and in Cincinnati, Columbus, Zanesville, Tipp City and Cleveland. At Tremco, a small manufacturing business in Cuyahoga County, I toured the facility and met with employees as the business announced plans to upgrade its equipment, hire new workers, and reinvest in their employees through increased contributions to employee retirement plans, all as a direct result of tax reform.

A more competitive business tax code, an international tax code that encourages jobs and investments in this country rather than overseas, and incentives like immediate expensing of equipment are helping American businesses like Tremco and others reinvest — and are increasing opportunity for Ohio workers.

One estimate suggests that, across the country, more than 400 businesses have announced bonuses, higher wages, increased benefits, or a combination of these things as a result of this tax reform law. I’ve met with dozens more small businesses since the first of the year across Ohio that aren’t included on that list and are doing the same thing, so I know the number is far higher than that.

The tax reform legislation also preserved important tax credits used for community redevelopment projects. The New Markets Tax Credit and Historic Tax Credit were removed in the House-passed tax reform bill, but I successfully fought to include them in the final law. These tax credits are important to Ohio, and they have helped leverage private funds for nine projects in Mahoning County.

The New Markets Tax Credit is a tax incentive to spur economic growth and community redevelopment projects. It was critical for the recent construction of the new University Hospitals Rainbow Center for Women & Children in Cleveland and the renovation of the downtown Youngstown YMCA. The Historic Tax Credit, which is used to preserve and renovate historic buildings, helped leverage funds for the new DoubleTree hotel in downtown Youngstown and will encourage more economic development in the area.

There are countless other examples of these tax credits benefiting Ohio communities, and I’m pleased I was able to work with my colleagues to ensure they stayed in our tax reform law.

Before this new law, it had been 31 years since we last updated our tax code in a comprehensive way. I’m proud that the tax reform law is putting money back in the pockets of Ohio families, creating more opportunity for Ohio workers, and helping Ohio’s companies and the American economy.

Editor’s Note: This commentary was submitted to The Business Journal by the office of U.S. Sen. Rob Portman.

Sherrod Brown doesn’t care about Hillary’s attack on Ohioans

When Hillary Clinton’s former campaign manager says “Look, this was bad. I can’t sugarcoat it,” you know she really stepped in it.

So why is it so hard for Sherrod Brown and Ohio Democrats to denounce her attacks on Ohioans? 

Sherrod Brown stumped for Hillary Clinton in 2016 and boasted about how she could have won if he was her running mate. Now he says “I really don’t care what she said.” 

That’s much different than what other Senate Democrats have said. For instance, Claire McCaskill (D Mo.) called Hillary’s attack “fighting words.” 

“Those are kind of fighting words for me because I’m partial to Missouri voters,” McCaskill said. “I think they were expressing their frustration with the status quo. I may not have agreed with their choice, but I certainly respect them. And I don’t think that’s the way you should talk about any voter, especially ones in my state.”

Hillary Clinton, Sherrod Brown and Ohio Democrats still haven’t learned their lesson from 2016. Instead of focussing on why Democrats continue to lose support Ohio, they simply write us off as lesser people.

“Sherrod Brown’s response to Hillary Clinton tells us a lot about his personal beliefs of Ohioans – he doesn’t care.” Ohio Republican Party spokesman Blaine Kelly said. “One look at his voting record or his donor list shows us that. When he voted against tax reform, he told working Ohio families he didn’t care that the extra money they save will help make ends meet. Sherrod Brown may not care, but Ohio voters do. President Trump and Ohio Republicans are delivering results for these families, and we welcome disaffected Democrats to join us.”

See Hillary’s deplorable statements for yourself:

Sherrod Brown doesn’t care about Hillary’s attack on Ohioans

When Hillary Clinton’s former campaign manager says “Look, this was bad. I can’t sugarcoat it,” you know she really stepped in it.

 

So why is it so hard for Sherrod Brown and Ohio Democrats to denounce her attacks on Ohioans? 

Sherrod Brown stumped for Hillary Clinton in 2016 and boasted about how she could have won if he was her running mate. Now he says “I really don’t care what she said.” 

That’s much different than what other Senate Democrats have said. For instance, Claire McCaskill (D Mo.) called Hillary’s attack “fighting words.” 

“Those are kind of fighting words for me because I’m partial to Missouri voters,” McCaskill said. “I think they were expressing their frustration with the status quo. I may not have agreed with their choice, but I certainly respect them. And I don’t think that’s the way you should talk about any voter, especially ones in my state.”

Hillary Clinton, Sherrod Brown and Ohio Democrats still haven’t learned their lesson from 2016. Instead of focussing on why Democrats continue to lose support Ohio, they simply write us off as lesser people.

“Sherrod Brown’s response to Hillary Clinton tells us a lot about his personal beliefs of Ohioans – he doesn’t care.” Ohio Republican Party spokesman Blaine Kelly said. “One look at his voting record or his donor list shows us that. When he voted against tax reform, he told working Ohio families he didn’t care that the extra money they save will help make ends meet. Sherrod Brown may not care, but Ohio voters do. President Trump and Ohio Republicans are delivering results for these families, and we welcome disaffected Democrats to join us.”

See Hillary’s deplorable statements for yourself:

Hillary Clinton just called Ohioans “backwards”

We already knew that Hillary Clinton thought Ohioans were “deplorables,” but yesterday she threw another jab at the Buckeye State by calling us “backwards.”

Hillary and her Ohio Democrat colleagues still haven’t learned their lesson from 2016. Instead of focussing on why Democrats continue to lose support Ohio, she simply writes us off as lesser people.

Sherrod Brown stumped for Hillary Clinton in 2016 and boasted about how she could have won if he was her running mate. So does Sherrod Brown agree with Hillary? Facing re-election in a state that President Trump won by eight points, Ohio voters deserve to know Brown’s position. 

“It’s statements like this that are driving former blue-collar Democrats to the Republican Party,” Ohio Republican Party spokesman Blaine Kelly said. “President Trump and Ohio Republicans are delivering results for working Ohio families, and we welcome those former Democrats whose party has left them. Sherrod Brown and Ohio Democrats claim to fight for Ohio workers, but will they disavow Clinton for her absurd claims?”

See Hillary’s deplorable statements for yourself:

Ohio Restaurant Association backs DeWine for Governor

Toledo Blade

The Ohio Restaurant Association is endorsing Republican Ohio Attorney General Mike DeWine for governor.

Here’s a release from the DeWine campaign:

COLUMBUS, Ohio (Mar. 13, 2018) — The Ohio Restaurant Association (ORA) Board of Directors today enthusiastically announced its endorsement of Mike DeWine for Governor and Jon Husted for Lieutenant Governor.
“Mike DeWine has been a tireless advocate for Ohio’s small business community, and has a special understanding of and appreciation for the unique challenges that face the restaurant industry,” said ORA President and CEO John Barker. “His pro-business, pro-growth, pro-jobs stance on the issues that matter most to our members has earned him our endorsement for governor.”

Today’s announcement is unique in that the ORA has never endorsed a candidate this early in the political process. Barker said DeWine’s track record of support on issues important to ORA members was key to the decision to endorse early.

Mike and Fran DeWine are also long-time supporters of the Ohio Restaurant Association Education Foundation’s Ohio ProStart® program, a two-year high school program that connects students in the classroom with real-world experiences and develops the next generation of leaders in restaurant management, culinary arts, and foodservice industry. The DeWines have awarded several scholarships to Ohio ProStart students over the years to help them further their post-secondary education. 

The ORA recently honored DeWine with their Public Official of the Year Award at its annual Industry Awards Celebration in January. ORA Board Chairman Jamie Richardson recognized DeWine’s track record of outstanding service to Ohio saying, “Mike understands that jobs matter, and the restaurant industry is proud to work with public officials like him who work hard for every Ohioan,” Richardson said.

“Ohio’s restaurant industry is the state’s third-largest private-sector employer, with $20.9 billion in sales and nearly 575,000 employees,” Barker said. “It’s critical that our next governor has an in-depth understanding of the impact our industry has on Ohio’s economy,” Barker said. “Mike DeWine’s unmatched record of service to Ohio and its people makes him the obvious choice for governor.”

313,000 jobs added in February in strong jobs reports

Dayton Daily News

By Jamie Dupree

The U.S. economy showed more signs of strength last month, as a new federal report showed 313,000 jobs were added in the month of February, the largest monthly increase during the Trump Administration, and the best month of job growth since July of 2016, as the nation’s unemployment rate remained at 4.1 percent.

The Department of Labor also revised job growth numbers upward in both December and January, adding another 64,000 jobs.

The news left Republicans even more optimistic about economic progress under President Trump.

“This report shows continued momentum in our economy,” said Rep. Kevin Brady (R-TX). “And with the help of the Tax Cuts and Jobs Act, our economy is finally starting to fire on all cylinders.”

“Strongest job growth in a year and a half shows tax cuts and regulatory rollback are working,” said Rep. Jim Banks (R-IN).

“The American economy continues to grow!” added Rep. Bradley Byrne (R-AL).

The areas where jobs increased included construction, retail, manufacturing, and health care. You can read the full labor report at this link.

Job gains have averaged 242,000 over the last three months; economists have long said that the average needs to be over 300,000 to spur even greater growth, and to help those who have struggled in the aftermath of the 2008 Wall Street collapse.

For months, President Trump has said that his economic plans will give a new shot of confidence to both businesses and consumers, and create a new surge in economic growth.

“Consumer confidence is at an 18-year high. Business confidence is through the roof, with a record number of small business owners saying that now is a good time to expand,” the President said earlier this week.

After an increase of seven cents per hour in January, the Department of Labor reported that average hourly earnings in February rose by four cents to $26.75.

One of the more interesting pieces of data from the February report was that the size of the labor force grew by 806,000, indicating many more people were now looking for work – that is the largest jump since January of 2003.

As for the jobless rate of black Americans – a statistic that President Trump has referred to often in recent months – after a sharp increase in January, that rate took a big step in the right direction in February, just off the all-time low set in December.

Click here to read online.