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Dear West Virginian,
Over the last month, I have been traveling all across our beautiful state, talking with our people and listening about what matters most to them and our communities. A message I hear everywhere is clear: affordability remains a huge concern for families, seniors, and small businesses alike.
Tax relief is critical to easing these financial pressures, and I am actively pushing for more solutions to lower your cost of living. Fortunately, the Working Families Tax Cuts law is delivering real benefits across West Virginia that our families can feel.
I was proud to help pass this legislation and now, we see thousands of dollars in increased take-home income, real wage growth, and an 11% increase in the average tax return this year. In West Virginia alone, this law expanded the Child Tax Credit for 182,850 families, provided a $6,000 bonus deduction for seniors, and permanently secured the 20% tax deduction for 78,070 small business owners. Now, there are no federal taxes on tips, overtime, or social security, providing a needed boost for our workforce and our seniors.
We also included a program for newborn Americans to receive a $1,000 savings account to kickstart their future. If $250 is contributed into a child’s account annually for 18 years, the savings will grow to $19,000, providing a huge advantage as they start adult life. If you haven’t heard about this, I encourage you to read more about Trump Accounts here and legislation I’m leading to increase access for the future of our children here.
I will keep fighting every day to build a stronger future for West Virginia’s families, workforce, and seniors.
Sincerely,
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Shelley Moore Capito, U.S. Senator
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