US Senate News:
Source: United States Senator MarkWayne Mullin (R-Oklahoma)
RELEASE: Let’s get this done.
Washington, D.C. – Today, U.S. Senator Markwayne Mullin (R-OK) released the following statement on the One Big, Beautiful Bill:
“In November, the American people voted overwhelmingly for a change in Washington. Every single county in Oklahoma, all 77 of them, voted for President Trump and his transformational America First agenda,” said Senator Mullin. “The One Big, Beautiful Bill will deliver historic relief for American families. It is imperative that we make President Trump’s 2017 tax cuts permanent. We will continue the fight and get the job done.”
5 ways President Trump’s 2017 tax cuts helped Oklahoma:
Doubled the child tax credit to $2,000 from $1,000
Doubled the standard deduction
Created the 20% small business deduction
Doubled the death tax exemption
Drove investment through opportunity zones
What happens to Oklahoma if President Trump’s tax cuts expire?
233,870 small business owners will be hit by the expiring 20% small business deduction.
70,378 family-owned farms could see their death tax exemption cut in half
448,980 Families will see their child tax credit cut in half
$5.6 billion Wages at risk
63,000 Jobs potentially lost
$2,013 tax hike on the average Oklahoma family in 2026
For more information on the impact of the 2017 Trump tax cuts expiring, click here.