AUSTIN, Texas - Sen. John Cornyn, R-Texas, was in Austin on Monday to tout the recently passed tax law by meeting with small business owners, who are praising the new reforms.
"We can put in two new stores this year," said Robert Mayfield, owner of Wally’s Burger Express.
Mayfield hosted Cornyn and two other Austin-area business owners at his restaurant in northwest Austin. The four gathered in a booth with milkshakes.
Bobby Jenkins, owner of ABC Home and Commercial Services, said his company will be able to hire more people because of the tax law.
"The employee morale is higher," said Josh Agrelius, owner of Re-Bath of Austin.
Cornyn said it'll provide fuel for the Texas economy and benefit everyday workers.
"Hopefully in their February paycheck people will actually see the dramatic and direct impact on their wages," Cornyn said.
Cornyn said he wants to make those individual tax cuts permanent; they're currently set to expire after 2025.
However, Dick Lavine, a senior analyst at the left-leaning Center for Public Policy Priorities, said paying for that could be tricky.
"If they extend the tax cuts, they are just going to break the bank on the deficit and put the federal budget in a deep, deep hole," Lavine said.
Lavine said the current plan is already going to be costly, and small businesses won't even benefit from its greatest effects.
"There are some small businesses that operate through what's called these pass-throughs, where it will cut the income tax of the owner of that small business, but by far the major beneficiaries of this tax cut are corporations," Lavine said.
But the Texas business leaders gathered Monday said they were feeling optimistic that the tax law would save them money.
"And that makes us all pretty happy," Mayfield said.