Budget Passage ‘A Major Step Forward’ ‘To Overhaul The Tax Code’

SEN. MIKE ENZI (R-WY): “This budget resolution is the first step to pro-growth tax reform, as it will provide the fiscal headroom needed for the tax-writing committees in the Senate and the House to produce tax reform legislation… Hardworking families deserve a system that works for everyone in order to provide higher wages and more jobs.  Pro-growth tax reform can help U.S. businesses and their workers compete in the global marketplace, spur investment and job growth here at home, and free Americans to make their own decisions about how to spend their hard-earned money. Hardworking Americans want and deserve a more effective and efficient government. And a big part of that is making the tax code work for all American families and small businesses.” (Sen. Enzi, Press Release, 10/19/2017)

SEN. ORRIN HATCH (R-UT): “Tonight’s action sends a strong signal to the American people that Congress is unified in its effort to advance a comprehensive tax overhaul that will shift the nation’s economic landscape and provide relief to middle-class families. Under the leadership of Chairman Enzi, the Budget Committee produced a strong budget with a reconciliation instruction that will give the Finance Committee the headroom it needs to develop the best pro-growth policies to achieve our goal.” (Sen. Hatch, Press Release, 10/19/2017)

SEN. MITCH McCONNELL (R-KY): “… we completed the first step towards replacing our broken tax code by passing a comprehensive, fiscally responsible budget that will help put the federal government on a path to balance. ... We have a once-in-a-lifetime opportunity to replace a failing tax code that holds Americans back with one that actually works for them.  To middle class families across America, we have a simple message: we want to take more money out of Washington's pockets and put more in yours.” (Sen. McConnell, Floor Remarks, 10/19/2017)

PRESIDENT TRUMP: “Great news on the 2018 budget @SenateMajLdr McConnell - first step toward delivering MASSIVE tax cuts for the American people!” (President Trump, @realDonaldTrump, Twitter, 10/19/2017)

  • “President Donald J. Trump applauds the Senate for passing its FY 2018 Budget Resolution today and taking an important step in advancing the Administration’s pro-growth and pro-jobs legislative agenda. This resolution creates a pathway to unleash the potential of the American economy through tax reform and tax cuts, simplifying the overcomplicated tax code, providing financial relief for families across the country, and making American businesses globally competitive.(White House Statement, 10/19/2017)

‘Crucial,’ ‘Significant,’ ‘Major,’ ‘Clearing A Huge Hurdle’ For Tax Reform

NEW YORK TIMES: “The Senate took a significant step toward rewriting the tax code on Thursday night with the passage of a budget blueprint that would protect a $1.5 trillion tax cut from a Democratic filibuster.” (“Senate Approves Budget Plan That Smooths Path Toward Tax Cut,” The New York Times, 10/19/2017)

WALL STREET JOURNAL: “Senate Republicans adopted a budget for the next fiscal year, clearing a critical hurdle in the GOP push to overhaul the tax code.” (“Senate Passes Budget Proposal Primarily On Party Lines,” The Wall Street Journal, 10/20/2017)

WASHINGTON POST: “The Senate approved the Republican-backed budget Thursday night, a major step forward for the GOP effort to enact tax cuts.” (“Senate Approves Budget In Crucial Step Forward For Republican Tax Cuts,” Washington Post, 10/19/2017)

POLITICO: “Senate Republicans on Thursday passed a budget measure that will unlock the route to a sweeping tax overhaul…” (“Senate Passes Budget, Clearing Path For Tax Reform,” Politico, 10/19/2017)

BUSINESS INSIDER: “The Senate passed its fiscal-year 2018 budget resolution Thursday, opening the door for the passage of Republican leadership's massive package to overhaul the tax code. The resolution passed by a vote of 51-to-49…” (“The Senate Passes Its Budget, Clearing A Huge Hurdle For Trump's Tax Plan,” Business Insider, 10/19/2017)

AP: “The Senate on Thursday passed a Republican budget resolution that would pave the way to use a special procedural rule to consider tax reform later this year. The $4 trillion budget blueprint passed 51-49, with all Democrats and Republican Sen. Rand Paul of Kentucky voting against it. It sets the stage for debate later this year to dramatically overhaul the U.S. tax code, cutting rates for individuals and corporations while clearing away trillions of dollars' worth of deductions and special-interest tax breaks.” (“Senate Passes $4 Trillion Budget Bill, Paving Way for Tax Reform Effort,” AP, 10/19/2017)


Related Issues: IRS, Taxes, Small Business, Economy, Tax Reform, Jobs, Middle Class