LETTER TO THE EDITOR, Guy Berkebile, Guy Chemical Company, Somerset, Penn.
Tax Day is on Tuesday. While millions of Americans scramble to fill out their tax returns, we should also find time to celebrate the new tax law.
Because of the Tax Cuts and Jobs Act, more than 500 U.S. employers have publicly announced wage increases, bonuses, and other employee benefits. And over four million working Americans have reaped these benefits.
My employees are on the list. As the founder and president of Guy Chemical in Pennsylvania, I’m putting my tax savings to work by distributing bonuses and investing in expansion opportunities. We’re even considering a second manufacturing plant, which would bring jobs to rural Pennsylvania.
For years, I paid nearly 50 percent of my business income to the government—federal, state, and local. I’ve had to take out bank loans and mortgage my house just to pay my taxes. Fortunately, those days are behind us. Instead of bankrolling Uncle Sam, job creators are now growing their businesses and rewarding their employees.
That’s plenty to celebrate this Tax Day. And next year, there will be even more to celebrate once Americans see savings in their entirety under the new tax code.