Our Once-In-A-Generation Opportunity To Fundamentally Rethink Our Tax Code
‘After eight years of a heavy-handed Obama economy in which it often seemed only the ultra-wealthy could get ahead, it’s time to help middle class working families and small businesses get ahead. It’s time for comprehensive tax reform.’
WASHINGTON, D.C. – Senate Majority Leader Mitch McConnell (R-KY) made the following remarks on the Senate floor regarding the need for tax reform:
“This morning, the Senate Finance Committee is hosting another in a series of hearings on comprehensive tax reform. The president, his team, and many of us here in Congress are in agreement that passing tax reform is the single most important action we can take today to energize the economy and help middle class families get ahead. Our tax code is overly complex and has rates that are too high.
“Chairman Hatch and the members of the committee are working to improve American competitiveness under a simplified tax code that works better for all Americans. Last week, the committee’s hearing examined how to make the tax code work better for American individuals and families. Today, the Finance Committee is discussing the consequences of our outdated tax code for American businesses and workers.
“In an increasingly competitive global economy, our tax code stands as a barrier between American enterprise and economic prosperity. It actually incentivizes companies to ship good American jobs overseas. That doesn’t make any sense. What we should be doing is working to bring them home. Comprehensive tax reform offers the chance to do so.
“This is our once-in-a-generation opportunity to fundamentally rethink our tax code. We want to provide American businesses small and large with the conditions they need to form, invest, grow, and hire. We want to stop American jobs from being shipped overseas. We want to bring jobs and investments home so we can spur economic growth and restore opportunity for our families.
“After eight years of a heavy-handed Obama economy in which it often seemed only the ultra-wealthy could get ahead, it’s time to help middle class working families and small businesses get ahead. It’s time for comprehensive tax reform.
“Many of our Democratic colleagues have expressed support for an overhaul of our tax code. I hope they will choose to work with us in a serious way to modernize our increasingly outdated tax system.
“I thank Chairman Hatch for his leadership, and I look forward to this morning’s hearing and more hearings to come as we continue to discuss our tax-reform goals. I thank the President and his team as well for their strong leadership too. Comprehensive tax reform is clearly a top priority for this White House, just as it is for this Congress. So let’s deliver more opportunity for the middle class — let’s continue the hard work of tax reform to help American families and small businesses get ahead.”
Related Issues: Tax Reform, Taxes