Wicker Touts Success of ‘Tax Cuts and Jobs Act’

Senator Says Tax Reform is ‘Already Making a Positive Difference’ for Americans

January 17, 2018

WASHINGTON – In a speech delivered to the Senate today, U.S. Senator Roger Wicker, R-Miss., highlighted the success of the tax cuts passed by Congress and signed into law by President Trump in December. Specifically, Wicker noted examples of the law’s positive impact in Mississippi.

Excerpts of Wicker’s speech include:

“When we passed tax reform last year, we knew it would be a win for American workers and our economy.  This win for our workers and families was long overdue, after so many years of sluggish wage growth.

“The response from our job creators – both small and large – has been overwhelming.  Some 164 companies – spanning industry sectors and geographical boundaries – have announced employee bonuses, higher minimum wages, better benefits, new jobs, charitable donations, and new investments.” 

“Mississippi’s single largest private employer, Walmart, which has announced that it is raising its starting wage rate for hourly employees to $11.  Walmart is also expanding its maternity and parental leave benefits, as well as giving employee bonuses. 

“BancorpSouth, headquartered in my hometown of Tupelo, has announced that it will give back to employees through pay raises or bonuses.  In fact, BancorpSouth says it plans to invest more than $10 million into the employees who work in its 234 locations across Mississippi and seven other southern states. 

“Another Tupelo, Mississippi-based bank, Renasant, has announced it will invest its tax savings in its 2,000 employees.”

“Other Americans will get new jobs. Last month, television station WLOX reported that Half Shell Oyster House plans to use its tax savings to open new restaurants and hire more employees.  Kevin Fish, a co-owner, told the news station, ‘We’ve passed up on opportunities in the past that we wouldn't have passed up on had we had this tax structure.’” 

“The message is clear across my state and across the country. The more money our job creators can save (and the more money they don’t have to send to Washington), the more they can invest in the future of their business and the well-being of their employees – and this is proving true every day. These are the opportunities that we do not want our job creators to pass up.  With every bonus, every pay raise, every expanded benefit, and every lower energy bill, American families have more money in their budgets to spend on the things they need most.”