[Congressional Record Volume 163, Number 182 (Wednesday, November 8, 2017)]
[House]
[Pages H8603-H8604]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         REFORMING OUR TAX CODE

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
North Carolina (Mr. Budd) for 5 minutes.
  Mr. BUDD. Mr. Speaker, reforming our Tax Code isn't an easy thing to 
do. If it was, we would have done it at some point in the last 30 
years. But here is the reality: because of high-powered lobbyists and 
special interests within a 5-mile radius of this body, we have failed, 
time and time again, to do what is right for the hardworking American 
taxpayer.
  But in the coming weeks, however, we have a rare opportunity to 
finally deliver a tax bill that puts working families first by passing 
the Tax Cuts and Jobs Act into law.
  First, let me address the fact that there are certain provisions 
within this bill that some of my colleagues and I might differ on. That 
will always be the case. But instead of bickering, I urge my colleagues 
not to look at things in a vacuum and, instead, evaluate it by asking 
ourselves three important questions.
  The first question we should ask is: Does this bill cut taxes for the 
vast majority of hardworking American families? The answer to this 
question is yes. Studies already show that if this bill passes, a 
typical family of four making around $60,000 will see nearly a $2,000 
tax cut.
  Let's think for a second what this money could be used for. Instead 
of giving it to the Federal Government, families could spend it on 
their children, they could put it in savings, or they could even pay 
off their debts. President Trump promised working families around the 
country a tax cut. And if this was put on his desk tomorrow, that 
promise would be delivered.
  This leads us to the second question we should ask ourselves: Would 
this bill bring back jobs from overseas? The answer to this question, 
like the first one, is also yes. By cutting the corporate tax rate to 
below the global average and making other necessary reforms on the 
business side, this bill would make us competitive with our foreign 
competitors and encourage business to be done here instead of abroad.
  Job creators, both large and small, have been coming out in support 
of this bill. Companies as big as UPS and AT&T, to small businesses 
right in North Carolina, have said that reforming our Tax Code will 
make it easier for them to create more good-paying jobs, and we should 
listen to them.
  This takes us to my last question that we should all ask: Would this 
bill simplify the tax filing process for working families next year and 
in years to come? The answer to this, as well, is yes.

  Mr. Speaker, one of the most striking statistics that I have seen 
with my constituents and people all around the country is that they 
spend more than 10 hours a year doing their taxes. Because of the many 
different forms they

[[Page H8604]]

have to fill out, recordkeeping, and tax planning that they have to do, 
Americans are rightfully demanding a much simpler process. By doubling 
the standard deduction, collapsing the rates, and closing special 
interest loopholes, Americans will experience a much simpler process 
when filling out their taxes.
  I know how stressful this process can be for many back home, and I am 
a firm believer that the last thing you should do is worry about 
navigating our broken Tax Code.
  Mr. Speaker, I posed three questions, and the answer to all three was 
yes. So instead of bickering about preserving a deduction here, or a 
tax credit there, I urge my colleagues to unite behind a tax reform 
bill that would cut taxes for working families, bring jobs back home, 
and make the filing process simpler for millions of people.

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