VIDEO: Ricketts Fights to Make American Dream, Good Life More Attainable for Nebraska Families

WASHINGTON, D.C. – This week on the Senate Floor, U.S. Senator Pete Ricketts (R-NE) discussed his work to support the American Dream and make the Good Life more attainable for the next generation of Nebraskans.  He highlighted how the Working Families Tax Cuts invest in American families and children. This includes the new Trump Accounts and the expansion of the Child Tax Credit. “For over 250 years, people from all backgrounds have been able to work hard and to achieve the American Dream,” said Ricketts . “And here in the United States Senate, I am fighting to renew the American dream. One of the ways that we have done that, with my Senate Republican colleagues, is the Working Families Tax Cuts that we passed last year. The Working Families Tax Cuts invests in American families and in American children.” Watch the video here. TRANSCRIPT Senator Ricketts: “ Mr. President, our country was founded on the belief that all Americans have the right to pursue life, liberty, and happiness. “It’s fundamental to who we are as Americans. “And these are the building blocks of the American dream. “We live in a nation of opportunity. “We live in a nation that enables kids to have it better than their parents. “A nation that believes that hard work leads to success. “And for over 250 years, people from all backgrounds have been able to work hard and to achieve the American dream. “And here in the United States Senate, I am fighting to renew the American dream. “One of the ways that we have done that, with my Senate Republican colleagues, is the Working Families Tax Cuts that we passed last year. The Working Families Tax Cuts invests in American families and in American children. It invests in the next generation. “With my Senate colleagues, on the Republican side, we’re building a path for another 250 years of opportunity for this great nation and for the children and families in this great nation. “The Working Families Tax Cut was great for families. “One of the ways that it was great for families and for Nebraskans in my state, is with the Trump Accounts that were part of that overall package. “These are investment accounts that will kick-start the American dream for kids all across this nation. “You can download the app right now. “Starting on July 4, Nebraskans and all Americans will be able to start opening up these accounts. “All American kids under the age of 18 will be eligible to have one of these accounts. “And those born between January 1, 2025, and December 31, 2028, will also be able to enroll and automatically have $1,000 put into their account, courtesy of the U.S. Treasury, to be able to help kick-start that American dream. “Parents and guardians will be the custodians of these accounts, but the children will own them, and when those kids turn 18, they’ll be able to take possession of those Trump Accounts. “These accounts work like traditional retirement accounts. “Up to $5,000 a year can be put into these accounts, these Trump Accounts. And it can come from your parents, grandparents. It can come from communities. It can come from churches. It can come from governments. It can come from nonprofits, employers can contribute. “And help build that foundation for those young people to be able to achieve the American dream. “Many have already committed to contributing to Trump Accounts. “For example, Michael and Susan Dell have donated $6.25 billion to the first 25 million American kids who sign up for these accounts that also reside in zip codes with a median income that’s below $150,000. “That means that each one of those kids will get about $250 on top of the $1,000 that the treasury’s putting in. “Charles Schwab has said he will match the government’s $1,000 with another $1,000 for all the people who work at his company. “These are just a couple of examples of how philanthropists are working together with the U.S. Government to be able to kick-start young people’s American dreams through these Trump Accounts. “In my home state of Nebraska, our state government is going to open accounts for all the foster kids in Nebraska. “These Fostering the Future Accounts will work just the same, making sure that young Nebraskans in foster care have a little extra financial help. “This money is so that these young Nebraskans can put it toward college, buying their first home, or starting a business. “For children whose accounts start with $1,000, additional contributions will not be required. “The accounts will still grow. “And these accounts will help launch those kids into their future. “Another way we are investing in our children and families is with the expansion of the Child Tax Credit. “In The Working Families Tax Cut, we increased that Child Tax Credit to $2,200 and made it permanent. “It was set to fall to $1,000, but Senate Republicans made it permanent and took it up. “The Child Tax Credit will benefit over 239,000 Nebraska families. “Increasing the Child Tax Credit allows these families to have more money in their pockets, and we want to encourage Americans to work hard and support their families. “This is what keeps the American dream alive. “The Working Families Tax Cut also provides an increase in the Child and Dependent Tax Cut. “We increased the maximum credit from 25% up to 50%, and we took the increased tax deduction up from $5,000 to $7,500. “We made the first ever permanent Paid Medical Leave Tax Credit, based on legislation from Senator Deb Fischer. “This will encourage our businesses to offer that benefit to families all across the nation. “We expanded the tax credits for employer-provided childcare, and created new credits for small businesses to be able to create childcare at work. “We also extended the Able Accounts, which otherwise would have expired in 2025. “These accounts help individuals with disabilities to save and invest through tax-free savings, without losing eligibility for federal programs like Medicaid and supplemental security income. “These are real investments in American families and the next generation. “And similar to my colleague from Wyoming who pointed this out, every single Democrat — every single one — voted against these provisions that would help young Americans be able to achieve the American dream. “Every single Democrat voted against them. “Senate Republicans, by contrast, are fighting in the U.S. Senate to renew opportunity for our kids’ futures and supporting families in our country. “We’re encouraging and supporting the American dream. “And we’re making it possible for the Good Life to be more attainable for all Nebraskans.”