Ugenti-Rita: Arizona Small Businesses Will Benefit from Tax Bill

Michelle Ugenti-RitaA little over a month ago, President Trump signed the Tax Cuts and Jobs Act into law, and Americans are already feeling better than ever about the state of our economy. In a recent poll from Quinnipiac University, 66 percent of Americans rated the nation’s economy as either “excellent” or “good”—a three percentage point jump since last month.

It’s difficult to not be excited about the impact the tax bill is having on Arizona and its small businesses. The relief could not have come sooner.

Arizona is home to nearly 500,000 small businesses that employ approximately one million people. For too long these entities have struggled under a burdensome tax code that has prevented growth. With the previous federal tax rate approaching 40 percent, small businesses saw much of their hard-earned revenue disappear into the pockets of Uncle Sam.

Fortunately, measures included in the new tax relief package will reduce this burden. The Tax Cuts and Jobs Act created a 20 percent standard deduction that applies to roughly 95 percent of small businesses and eliminates high tax brackets in favor of new, lower ones.

To put the standard deduction in layman’s terms, with the help of the new tax legislation, small businesses earning $200,000 a year are able to shield their first $40,000 of income from taxation. That extra cash can now be funneled into employee bonuses, wage increases, job creation, and business expansion. These measures will further bolster Arizona’s pro-business, pro-growth reputation.

According to a report by BMO Financial Group, Arizona’s business environment is already strong. While most state economies are expected to grow by an average of 2.2 percent, Arizona anticipates 2.8 percent growth in 2018. The tax cuts package will only accelerate that advancement.

In fact, we are already seeing some positive results in the state. Arizona-based YAM Worldwide announced it will be giving out $1.3 million in bonuses to its employees. Furthermore, over 1,000 JPMorgan Chase employees in Arizona will receive wage hikes or bonuses as part of the companies nationwide $20 billion, five-year plan to invest back into the country.

In addition, a report from the nonpartisan Tax Foundation found the bill will create almost 6,500 jobs in the state.

These must be the “crumbs” Nancy Pelosi and the Democrats scoffed at while trying to explain away the benefits resulting from tax relief. For some, these “crumbs” represent eased rent worries, the ability to afford childcare or help with the skyrocketing costs of healthcare.

The examples chronicled above are only a small piece of the benefits the tax bill has induced. Imagine the impacts Arizona will feel a year from now.

Rep. Michelle Ugenti-Rita (R) is the Chair of the Arizona House Ways and Means Committee and represents the 23rd House District

Speaker Mesnard, Rep Shooter Release Statements on Sexual Harassment

Javan D. Mesnard

Speaker Javan Mesnard

First, this by Speaker of the Arizona House JD Mesnard:

Speaker Mesnard Releases Sexual Harassment Report and Announces Remedial Action

STATE CAPITOL, PHOENIX – House Speaker J.D. Mesnard (R-17) today released the investigative report on sexual harassment allegations against Representatives Don Shooter (R-13) and Michelle Ugenti-Rita (R-23). Speaker Mesnard also announced several actions in response to the report and scheduled a press conference for 4:00 p.m. to discuss those actions.

The report, which is attached, concluded that there is credible evidence that Representative Shooter violated the House of Representative’s policy against sexual harassment. The report did not find credible evidence that Representative Ugenti-Rita violated House policy.

Speaker Mesnard reacted to the report by outlining several remedial actions:

  • Speaker Mesnard is permanently removing Representative Shooter from all committee assignments effective immediately.
  • Speaker Mesnard will furthermore introduce a resolution on the House Floor censuring Representative Shooter for his behavior.
  • Speaker Mesnard will propose augmenting the House rules, which carry the force of law, to require a formal anti-harassment policy by which all Members must abide.
  • Speaker Mesnard will also propose adding a House rule requiring a formal behavioral code of conduct for all Members.
  • Speaker Mesnard will establish a bipartisan panel of Members to fully and transparently develop the behavioral code of conduct for House members.
  • Speaker Mesnard, in his capacity as Speaker, will develop a code of conduct that will apply to all House staff.
  • Speaker Mesnard will formalize a Human Resources Department for the House.
  • Speaker Mesnard will prohibit the consumption of alcohol on House premises.

Speaker Mesnard will hold a press conference this afternoon at 4:00 p.m. in House Hearing Room 1 to discuss the remedial actions he has taken.

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Don Shooter

Don Shooter

Then this announcement by Representative Don Shooter:

Representative Don Shooter Releases Statement on Investigative Report

STATE CAPITOL, PHOENIX – Representative Don Shooter (R-13) today released the following statement:

“I am reviewing the report released by Speaker Mesnard today in connection with the investigation I requested.  Although I have not finished reading it, I want to thank my colleagues for their patience and professionalism during this process.”

 “I also want to thank the investigators, Craig Morgan and Lindsay Hesketh from the law firm Sherman & Howard.  With so much at stake for so many, their task was no doubt challenging.  I appreciate the seriousness with which they approached their assignment.”

 “This has been a humbling and eye-opening experience for me.  I look forward to working to repair relationships and serving my constituents and our great State.”

 “I will have no further comment.  Thank you.”

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Democrats weigh in on Representative Shooter:

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And the video: