Thune: Republicans’ Bill Delivers on Mandate From the Voters
“[Republicans] have the opportunity to pass a bill that advances all of these priorities and sets our country up for better days ahead.”
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WASHINGTON — U.S. Senate Majority Leader John Thune (R-S.D.) today delivered the following remarks on the Senate floor:
Thune’s remarks below (as delivered):
“Mr. President, last November the American people elected President Trump and a Republican Congress with a clear mandate.
“And since taking control in Washington this year, we’ve been working to deliver on our promise of a safer, stronger, and more prosperous America.
“Now we have the opportunity to pass a bill that advances all of these priorities and sets our country up for better days ahead.
“We’ve worked hard on this, and now it’s time to deliver.
“Mr. President, the centerpiece of our bill is permanent tax relief for the American people.
“The 2017 Republican-led tax cuts lowered rates for every income bracket.
“We doubled the child tax credit and nearly doubled the standard deduction.
“But those policies will expire at the end of the year without action from Congress – which means a typical family would be hit with a $1,700 tax hike next year.
“In my state of South Dakota, South Dakotans would see their taxes go up, on average, $2,500.
“We’re determined not to let that happen – not next year, not ever.
“Our bill makes the 2017 lower tax rates permanent.
“It raises the child tax credit to $2,200 per child and links it to inflation – permanently.
“And it maintains the higher standard deduction that 90 percent of taxpayers use.
“And, Mr. President, we’re not stopping there.
“Seniors will have an even higher standard deduction.
“Millions of tipped workers will benefit from no tax on tips.
“And millions of hourly workers will be able to keep more of their overtime pay with no tax on overtime.
“Mr. President, passing this bill means smaller tax bills and bigger paychecks for the American people – permanently.
“It will also help get our economy firing on all cylinders again.
“In 2017, we boosted our economy by lifting the tax burden on American businesses.
“We lowered tax rates for the owners of small and medium-sized businesses, farms, and ranches.
“We made it easier for them to recover the cost of investing in their businesses – which in turn freed up cash for them to invest in their operations and their workers.
“These and other major reforms helped kick-start our economy.
“And now we have the opportunity to make all of the pro-growth reforms from 2017 permanent and go even further.
“Our bill makes the small business deduction permanent.
“Full expensing for new equipment and domestic R&D will be permanent.
“Full expensing for new factories and factory improvements will generate growth and job creation and encourage more goods to be made in America.
“A higher death tax threshold that’s linked to inflation will spare countless family farms, ranches, and small businesses from a potentially devastating tax and the cost of burdensome planning.
“And the next generation will be able to access new investment accounts when they reach adulthood to use for education, to start a business, to buy their first home – essentially, Mr. President, to get a running start on the American Dream.
“All of this means more money in Americans’ pockets, more opportunity, and greater prosperity.
“Mr. President, a bill to make America stronger and more prosperous would be incomplete if it didn’t make America’s farmers and ranchers stronger.
“Agricultural producers will, of course, benefit from permanent tax relief.
“But this bill also directly addresses the challenges producers have faced these past few years.
“It increases reference prices for every covered commodity.
“It enhances crop insurance coverage and affordability, including for farmers just starting out.
“And it supports risk management, disaster assistance, and conservation programs that producers depend upon.
“Mr. President, the last few years have been some of the toughest in recent memory for American agriculture.
“And I’m proud that this bill addresses these issues head on.
“And I can assure America’s farmers and ranchers that their priorities will continue to be a priority here in Washington.
“Mr. President, this bill is also about a stronger America.
“And it makes a generational investment in our national security – all of our national security.
“And that starts with securing our borders.
“The Trump administration has already done incredible work stemming the flow of illegal immigrants and deporting criminals who had taken up residence in our country.
“But there’s more work to be done, and law enforcement needs more resources to do it.
“And our bill provides those resources.
“Technology and manpower to stop illegal immigrants and illegal drugs at the border.
“Increased capacity to deport dangerous individuals from our country.
“And, yes, finally finishing the wall.
“As I said, the administration has made great progress already, and I’m eager to get these resources into the hands of the men and women on the front lines to solidify those gains.
“Mr. President, we’re also making a major investment in strengthening our military.
“Recent events have only reinforced the imperative of military readiness.
“But in a number of instances, we’ve let our military strength slip.
“And adversaries like China have begun to outpace us in key capabilities.
“Our bill will help reverse that trend.
“It invests in shipbuilding.
“Supports a new Golden Dome for missile defense.
“Revitalizes defense manufacturing capacity in America.
“And invests in the war-fighting technologies of tomorrow.
“With this bill, we can help ensure that our men and women in uniform have what they need to deter and defeat any threat.
“Mr. President, we’re safeguarding our national security from every angle, which means addressing energy security.
“Energy security might not get the same attention as border security and national defense, but it’s a big part of keeping America strong and secure.
“Relying on energy from hostile nations or unstable parts of the world can be a dangerous proposition.
“And maintaining energy independence is key to keeping a country secure.
“We’re fortunate to have an abundance of natural resources in this country.
“And our bill makes sure that the American people benefit from those resources by freeing them up for responsible domestic production for a secure, stable, and affordable supply of energy.
“Mr. President, there’s a lot more I could say about this bill.
“But before I close, I just want to talk about how this bill delivers on Republicans’ promise to rein in the size of government.
“It delivers savings to the American people by reining in waste, fraud, and abuse in federal programs.
“It includes the largest spending cut in American history as well as commonsense, good-government reforms that haven’t been attempted in Washington, D.C., in decades.
“And with more revenue – revenue we get, Mr. President, by growing the economy, not by raising taxes – this bill will actually help reduce the deficit by as much as $6 trillion.
“Mr. President, this bill delivers on the mandate the American people gave Republicans last year.
“A stronger America.
“A safer America.
“And a more prosperous America.
“It’s right around the corner.”
Related Issues: Taxes, Energy, Budget, Border Security
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