Small Business Administration Administrator Kelley Loeffler told Newsmax that Americans' income tax returns demonstrate the "promises made, promises kept" leadership approach of President Donald Trump.
Loeffler told Newsmax's "Wake Up America" on Wednesday that millions of Americans have already felt the benefits of the new Trump tax rules. "This is the biggest tax cut that Americans are going to see in their lifetime."
"Thanks to President Trump and congressional Republicans, the working family tax cuts are putting more money back into the hardworking Americans' pockets. Our hardest working Americans, our small businesses, our tipped and overtime workers," Loeffler said.
The SBA administrator said she hopes Americans won't forget how this happened. "If you look at President Trump's three key tax reform items, it's no tax on tips, overtime, Social Security. Of the 120 million Americans that have already filed tax returns, over 50 million are benefiting from that."
Loeffler said the impact is significant. "We're seeing the average tax refund right now up 11% to $3,400 per family, and 15% more people are getting tax refunds this year."
She said the changes were the result of Republican efforts. "Not a single Democrat voted for the working family tax cuts that are benefiting millions of Americans and putting more money in their pocket," Loeffler said.
She said there is one change Democrats pushed for in the nation’s tax laws: "Democrats wanted to raise taxes on hardworking families by 20%."
Looking at the long term, Loeffler said millions of American parents are taking advantage of the new Trump account, which the Internal Revenue Service describes as "a new type of individual retirement account for their children. The account is for a child who has not turned age 18 before the end of the calendar year in which the election is made and has a valid Social Security number."
Some children are also eligible for a pilot program that provides a $1,000 government deposit into their accounts.
Loeffler said the Trump account is popular with American families. "Five million Americans have already signed up. That means children will see the benefits of this great economy."
Loeffler told Newsmax, "It is indeed promises made, promises kept, and that's why America is open for business again."
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Jim Mishler ✉
Jim Mishler, a seasoned reporter, anchor and news director, has decades of experience covering crime, politics and environmental issues.
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