[Congressional Record Volume 163, Number 160 (Thursday, October 5, 2017)]
[House]
[Pages H7845-H7846]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               TAX REFORM

  (Mr. PETERS asked and was given permission to address the House for 1 
minute.)
  Mr. PETERS. Mr. Speaker, our tax system is broken and in desperate 
need of reform. We need a simpler Tax Code that is fiscally 
responsible, makes American businesses more competitive, and allows 
working families to prosper in a 21st century economy.
  But the Ryan-McConnell tax proposal would do the opposite and fails 
on the promises made by President Trump to boost the middle class. 
Middle class families would see an average tax increase of $1,290 per 
year. That is a 380 percent increase for an average family of four.
  A new analysis from the nonpartisan Tax Policy Center said that the 
Ryan-McConnell proposal would add $5.6 trillion to the national debt, a 
27 percent increase from the current debt which is already too high.
  Under this proposal, the increased deficits will far outweigh the 
benefits

[[Page H7846]]

of reductions, and economic growth and hardworking Americans will both 
suffer.
  Instead, we need forward-looking policies that are fiscally 
responsible and create opportunities for families and businesses in 
today's economy. That will only come from bipartisan negotiations where 
we can work together to create the best possible tax conditions for 
Americans.

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