How much money is going back in your pocket?
Letter: Legislated tax cuts coming soon will boost the amount of money in your paycheck
Here’s something to brighten up a dreary January: The IRS recently completed its new tax withholding tables to reflect recently passed tax cuts. Employees across the country will see bigger paychecks by Feb. 15 at the latest as less money is taken out by the government in taxes. According to Yahoo Finance, a person earning $60,000 a year can expect to earn $112 more per month. If they have kids, that number will be higher.
More money in people’s pockets will help pay for bills, which nearly half of Americans struggle with. It will cover the cost of a monthly smartphone plan. Who wouldn’t want that taken care of? Tell your significant other: Tax cuts should also mean a nicer Valentine’s Day gift this year.
Colorado State Representative, Fountain