Florida Senator Ashley Moody addressed the Senate floor to mark the one-year anniversary of the Working Families Tax Cuts. The legislation, passed last year, eliminated federal taxes on Social Security, tips, and overtime pay.
Moody’s floor remarks followed a series of meetings across Florida, where she spoke with law enforcement officers, service industry staff, teachers, and parents regarding the provisions of the tax package.
“It is clear that Floridians are thrilled about the major wins we secured one year ago with the Working Families Tax Cuts,” Moody said. “Families and small businesses know how to spend their money far better than bureaucrats in Washington ever will—and with this largest tax cut in history, Floridians and Americans alike are able to achieve more with more of their own hard-earned money in their wallets.”
Federal data released alongside the anniversary shows that American workers and families have claimed $82 billion in direct individual tax relief through the legislation.
Total tax refunds issued nationwide reached $325 billion, with 97 percent of American filers receiving a tax reduction during the most recent filing period.
Specific provisions of the law saw widespread utilization across the country:
- More than 7.5 million workers claimed the exemption on tips.
- Over 29 million workers utilized the overtime tax exemption.
- More than 35 million senior citizens accessed the Enhanced Deduction for Seniors.
- 40 million families utilized the expanded Child Tax Credit, which was doubled under the legislation.
In Florida, taxpayers received an average federal refund of nearly $4,500, compared to the national average of $3,300.
The package also established child-owned investment accounts for children born between 2025 and 2028. Under the program, the U.S. Treasury provides a $1,000 initial investment for eligible accounts opened by parents. To date, more than 5.5 million child-owned investment accounts have been opened nationally, with 1.4 million qualifying for the initial federal contribution.
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