The U.S. Treasury Department released the new withholding tables under the Tax Cuts and Jobs Act, drawing the praise of at least one Louisiana congressman.
U.S. Rep Mike Johnson released a statement on Jan. 11, the day the Treasury Department announced the news that likely will increase the amount of money a number of American workers take home each paycheck, starting as early as February.
“I am proud to have worked with my colleagues and the administration to deliver real relief to the American people by passing our historic tax reform package,” said Johnson, a member of First Baptist Church, Bossier City. “Despite many false claims regarding the effects of our efforts, hardworking Americans are already seeing the immediate benefits of this new, pro-growth tax code. Businesses are rewarding their employees, expanding their operations and making new investments as a direct result of the Tax Cuts and Jobs Act. And now, the Treasury Department has updated its withholding calculations and confirmed that 90 percent of Americans will take home a bigger paycheck starting in February. The new year is off to an exciting start, and I look forward to many more great things to come.”
In a news release by the Treasury Department, employers are encouraged to implement the new withholding tables expeditiously but should do so no later than February 15, 2018. Workers will see changes in their February paychecks once employers adopt the new guidance, the news release said.