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WASHINGTON — U.S. Senate Majority Leader John Thune (R-S.D.) today delivered the following remarks on the Senate floor:

Thune’s remarks below (as delivered):

“Mr. President, tax filing season is no one’s favorite season.

“But thanks to the Working Families Tax Cuts, things are looking up this year.

“Americans filing their taxes are looking at a host of new tax relief – and taxpayers can take advantage of this relief for the 2025 tax year, which means that a lot of Americans are going to be seeing bigger refunds this spring.

“That starts with the newly enhanced child tax credit.

“Back in 2017, Republicans doubled the child tax credit – from $1,000 to $2,000 per child.

“And with the Working Families Tax Cuts, we made that relief permanent.

“And not just permanent.

“We boosted the tax credit again, by hundreds of dollars, and we linked it to inflation, so that its value will never go down.

“And parents filing their taxes this year can take advantage of this additional relief.

“Then there’s the new tax relief for older Americans – a $6,000 bonus deduction for low- and middle-income seniors.

“Seniors will be able to save hundreds – in some cases even more – on their taxes.

“And again, that applies to the 2025 tax year as well, which means seniors will start seeing that relief this spring.

“And tax filers of all ages will be taking advantage of the enhanced standard deduction this year.

“Back in 2017, Republicans nearly doubled the standard deduction, which is claimed by 90 percent of taxpayers in this country.

“And with the Working Families Tax Cuts, we boosted that deduction still further.

“And once again, the effects of that will be showing up in Americans’ tax refunds this spring.

“And the good news doesn’t end there.

“I said that parents will be able to take advantage of the enhanced child tax credit this season.

“They’ll also have the opportunity to open up new investment accounts for their children – and to opt in to an initial free $1,000 contribution from the federal government for newborn accounts.

“These accounts will provide another tax-advantaged option for parents to invest in their children’s futures.

“And again, these accounts can be opened during this tax filing season.

“The money can be used after their child turns 18 for their education, to start a business, to buy their first home – in short, to give them a head start on their American Dream.

“And then there’s no tax on tips or overtime.

“That’s right.

“Starting when they file their taxes this season, Americans who receive tips – from waitresses and bartenders to Uber and Lyft drivers – will be able to deduct those tips on their taxes.

“The same goes for overtime.

“Americans who spend long hours working overtime – like nurses, firefighters, and paramedics – will be able to deduct their overtime when they file their tax return.

“And that means lower tax bills and more money in their pockets.

“We call it the Working Families Tax Cuts for a reason, Mr. President.

“We set out to make life better for hardworking Americans.

“For the moms and the dads struggling to fit dentist visits and car repairs and Little League and ballet lessons into the budget.

“For the Americans relying on tips to make ends meet – and the dedicated health care and emergency workers who work overtime to help their fellow Americans.

“For the lower- and middle-income seniors pursuing a hard-earned retirement.

“For every American, Mr. President, who has struggled thanks to the inflation crisis that President Biden and Democrats helped create.

“To all of those Americans, I would just like to say: relief is on the way.

“And it starts this tax season.”