Mr. Speaker, last year, Congress passed landmark legislation, the Tax Cuts and Jobs Act. This legislation cuts taxes in every income group.
Now, Texans are seeing the impact of this pro-family, pro-growth tax reform. And so are the employees of Insperity.
In 1986, Insperity launched with little more than a 600 square foot home office and two employees in Texas’s Second Congressional District. But the small startup quickly began growing, eventually turning into one of the largest HR outsourcing firms in the country.
Earlier this month the company announced bonuses to its employees—made possible through the U.S. tax reform act. The amount of the bonuses will range from $1,000 to $4,000 per employee dependent upon the employee’s tenure with the company.
These bonuses total approximately $9 million and will not be awarded to the management team and other senior leaders. The company says: ‘‘We believe the passage of tax reform is positive news and should provide for stronger growth of Insperity, the small business community and the broader U.S. economy.’’
Mr. Speaker, the Democrats may call $1,000–$4,000 ‘‘crumbs . . .’’ But to the people of the Texas Second Congressional District this is money that will go directly back into the pockets of a community hit hard by Hurricane Harvey. This extra money will help families rebuild their homes, restore their possessions that were ruined by the floodwaters and recover from the devastation brought forward by the Hurricane.
Mr. Speaker, Insperity is just one example of the good work that this tax reform package has done. The latest data shows that a typical middleincome family of four in Texas’s Second Congressional District will see a Tax Cut of $2,788.
The Tax Cuts and Jobs Act has put more money in the pockets of employees and allowed industry to grow.
And that’s just the way it is.