[Congressional Record Volume 163, Number 157 (Monday, October 2, 2017)]
[Senate]
[Page S6243]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                               Tax Reform

  Mr. President, turning to the legislative business at hand, the last 
time Congress enacted tax reform was 1986. Back then, I was a State 
district judge in San Antonio, TX, the Spurs had a bad losing streak, 
and gasoline was 89 cents a gallon.
  A lot has changed since 1986. We have seen parties in Congress win 
the majority, lose it, and win again. We have seen six Presidents come 
and go, bringing us to this moment, this year, with the President 
committed to providing Americans with real tax relief and the promise 
of a resurgent economy. After countless meetings, hearings, and 
conversations amongst Members who represent varying and diverse 
constituents, Republicans in the House and the Senate and the 
administration have joined together to unveil a unified framework for 
tax reform.
  In the more than 30 years since our Tax Code has become overhauled, 
it has become the punch line in a bad joke. No one will defend it. 
Everyone knows it needs to be fixed. Over time, the code has become 
more complex and is now riddled with deductions, credits, and loopholes 
advocated by an army of lobbyists and special interests, so much so 
that the majority of Americans now pay somebody else to prepare their 
taxes because it is too complex for them to figure it out on their own, 
but with renewed focus and determination, we are committed to taking 
this framework and using it to enact real reforms to simplify a Tax 
Code that has grown so complex over the years, but that is not the main 
reason.
  The main reason we need tax reform is that the Tax Code has become 
the enemy of a growing, prosperous economy; the enemy of more take-home 
pay, and the enemy of America's competitiveness in a global economy. It 
is self-inflicted harm, and we can and must do better.
  Our first priority should be to reduce taxes for all American 
families, not one socioeconomic class or another--everyone. With a 
simpler, fairer, and more competitive Tax Code, we can raise living 
standards so people who earn the money can make decisions on how best 
to spend it themselves--on their children's education, on their home, 
on a car they need in order to get reliable transportation to get to 
and from work, or just maybe putting a little bit of money away for 
retirement.
  I think about the newly graduated teacher in Houston's public schools 
who is worried about stagnant wages, the entrepreneur in Austin with a 
great business idea who needs investors to succeed, or a single parent 
in San Antonio who is living paycheck-to-paycheck. Ultimately, this is 
about empowering all citizens to pursue the American dream. This is 
about reducing government's big bite out of our wages each month and 
about small businesses spending more time growing and creating jobs.
  By coming to the aid of hard-working American and Texas families, we 
will reawaken the sleeping giant that is our economy by reincentivizing 
investment and job creation.
  I know these are lofty goals. If it were easy, we would have done it 
more recently than since 1986. I know some of our colleagues across the 
aisle and some in the public are already questioning this framework. 
Some have wasted no time lobbing accusations, but they don't even 
bother to do their homework first. They are engaging in the same kind 
of class warfare many have come to love to wage here in Washington, DC, 
but those tactics are deeply cynical and deeply untrue.
  Here is their lie. They say our tax plan cuts taxes for the wealthy 
and hurts the poor, even though the actual plan hasn't been written 
yet. Some claim they already know what the bill says, and they don't. 
That is entirely predictable in this political environment and wholly 
false. Let me tell you why.
  First, we will cut taxes for all American families without shifting 
the burden from higher income households to lower or middle-income 
households. To accomplish this, the framework creates a large zero tax 
bracket by doubling the standard deduction. The first $12,000 of income 
for an individual and $24,000 for a couple would be tax-free.
  Let me say it again. If you are a couple who makes $24,000 or less, 
you will pay zero Federal income tax, which is effectively a zero tax 
bracket. Additionally, the proposed individual rates are collapsed into 
three, at 12 percent, 25 percent, and 35 percent. So instead of seven 
tax brackets, which we have now for individuals, we will have four, 
including the zero tax bracket. This framework also enhances the child 
tax credit. It repeals the death tax that has hurt small businesses and 
their families; it has broken up family farms and ranches. And it 
repeals the special interest tax breaks that primarily benefit the 
wealthy.

  The other refrain some critics have already started making is the 
claim that our tax plan gives big tax cuts to job creators. As I said, 
in addition to closing the special interest loopholes, nearly everyone 
will see some sort of benefit, and job creators will take that benefit 
and invest in their businesses. They will hire more people, and they 
will improve wages and growth in the economy, from which we will all 
benefit. So why would our Democratic colleagues oppose that?
  Our unified framework is a template that will be used by the tax-
writing committees to put the nuts and bolts together for tax reform. 
As a member of the Senate Finance Committee, I look forward to working 
with Chairman Hatch, Ranking Member Wyden, as well as colleagues in the 
House--Ways and Means Chairman Kevin Brady, Speaker Ryan, and others--
on these ideas. I even look forward to working with our Democratic 
colleagues if they will join us.
  I yield the floor.
  The PRESIDING OFFICER (Mrs. Ernst). The Senator from New Mexico.
  Mr. UDALL. Thank you, Madam President, for the recognition.