WASHINGTON – Today on the floor, U.S. Senator John Cornyn (R-TX) touted the benefits of the One Big Beautiful Bill Act, also known as the Working Families Tax Cuts, which will put money back into the pockets of hardworking Texans and help ease the financial burden facing Americans after 40-year high inflation under the Biden administration. Excerpts of Sen. Cornyn’s remarks are below, and video can be found here.

“In November, the American people delivered a clear message that the Biden administration, who presided over 40-year high inflation, was taking the country in the wrong direction.”

“Everything cost more than 20% more from the time President Biden took office to the time he left.”

“The good news is Republicans have taken important steps that will help ease the affordability crunch for all Americans, particularly when it comes time to file their taxes next year.”

“This legislation will help Americans keep more of what they earn by lowering taxes across the board, and not a single Senate Democrat voted for it. Essentially, by voting against it, they voted for a $3,000 tax increase on most families back in Texas.”  

“Twelve million Texas families who claim the standard deduction each year would have had to pay an additional $7,450 in taxes next spring without that legislation having passed. The lower rates from the Tax Cuts and Jobs Act from 2017 were set to expire at the end of this year, but the Working Families Tax Cuts made these lower rates permanent.”

“If you’ve only been listening to our Democratic colleagues, you’d be forgiven for thinking Republicans have done nothing to address the cost of health care in this country, but that’s not true. In the Working Families Tax Cuts, we expanded access to Health Savings Accounts, also known as HSAs.”  

“There’s a lot more work that needs to be done, and I look forward to working with all of our colleagues next year to continuing to develop policy solutions that will lower costs for patients and families, but one of the things that we should not, and we must not, and we will not do is expand the fraud-riddled Obamacare enhanced subsidies that were provided during the Biden administration.”

“Employees and self-employed individuals can now deduct up to $25,000 on qualified tip income through 2028. Next time you go to a restaurant or a bar, why don’t you ask the wait staff what they think about President Trump’s No Tax on Tips and No Tax on Overtime? I’ve done that, and it’s no surprise, they welcome that with open arms.”

“There’s still more work to be done, but I believe Republicans have delivered an important first step toward making life more affordable for the people we represent.”