Congress Passes Once-in-a-Generation Tax Reform
‘When the final version of this historic law passes the House later today, it will await the president’s signature. Then, families and small businesses - like so many in my home state of Kentucky - can begin to enjoy the benefits. Our constituents called out for relief from the Obama economy. Congress delivered.’
WASHINGTON, D.C. – U.S. Senate Majority Leader Mitch McConnell (R-KY) delivered the following remarks on the Senate floor regarding the passage of an historic tax code overhaul:
“Last night, the United States Senate accomplished something remarkable. After years of work, dozens of hearings, and an open process, we passed an historic overhaul of our nation’s tax code. It will deliver real relief to families and small businesses across the nation. We passed tax reform to spur the American economy; To encourage job creation and grow economic opportunity; To bring jobs and investment home; And to put more money into the pockets of the hardworking men and women we represent.
“We voted to repeal Obamacare’s individual mandate tax, so that low- and middle-income families are not forced to purchase something they either don’t want or can’t afford. And we voted to responsibly develop more of Alaska’s oil and gas potential, strengthening our economy and our national security in the process.
“I would like to commend my colleagues in the Senate for their work to pass these historic reforms and bring our tax code into the twenty-first century. I would like to extend special thanks to Senate Finance Committee Chairman Orrin Hatch, a skilled legislator whose expertise was essential to shepherding this legislation through a challenging process while faced with complete obstruction.
“Thanks also to Chairman Mike Enzi for his assistance, and to Chairman Lisa Murkowski and Sen. Dan Sullivan, who worked tirelessly to bring the people of Alaska a victory on energy exploration for which they have been waiting for almost forty years. I am also grateful to the other Senate conferees – Senators Cornyn, Thune, Portman, Scott, and Toomey – who worked day and night to get this legislation across the finish line. And of course, in addition to Senator Hatch, his colleagues on the Senate Finance Committee deserve our gratitude as well: Senators Burr, Cassidy, Crapo, Grassley, Heller, Isakson, and Roberts. This could not have happened without them.
“Of course, a great deal of credit goes to President Trump, Vice-President Pence, and their dedicated White House team. Their efforts were absolutely essential to this process, and we are proud to have worked together to deliver on a key part of the president’s agenda. And it goes without saying that tax reform would have been impossible without Speaker Ryan, Chairman Brady, and the members of the House who share our commitment to make taxes lower, simpler, and fairer. I am proud to call them my colleagues.
“When the final version of this historic law passes the House later today, it will await the president’s signature. Then, families and small businesses – like so many in my home state of Kentucky – can begin to enjoy the benefits. Our constituents called out for relief from the Obama economy. Congress delivered.”
Related Issues: Taxes, Economy, Tax Reform