[Congressional Record Volume 163, Number 186 (Tuesday, November 14, 2017)]
[Senate]
[Pages S7185-S7186]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               TAX REFORM

  Mr. McCONNELL. Mr. President, tax reform represents our best chance 
today to get the economy living up to its true potential, and it is a 
once-in-a-generation opportunity.
  The last time major tax reform happened was more than 30 years ago. 
In the years since, our country, our economy, and the global 
marketplace have changed in profound ways. Moreover, the lingering 
economic challenges of the last decade only compound the urgency to get 
this done.
  Jobs went overseas. Wages didn't grow like they should have. Hard-
working families worried if they would be able to send their kids to 
college or save for retirement. It is clear that families and small 
businesses had a rough go of it during the Obama economy.
  They deserve relief. They deserve the chance for something better. 
Tax reform is an important way to help get the economy, jobs, and 
opportunity moving again in a serious way.
  Listen to this small business owner and franchisee from Lexington, 
KY. She recently wrote to my office expressing the need for tax reform: 
``With the rising cost of doing business,'' she wrote, ``and the 
[g]overnment regulations that have been imposed on small businesses 
over the past several years, we desperately need tax relief and 
competitive rates. The current high tax rate that I pay,'' she 
continued, ``reduces the amount of earnings I can invest into my 
businesses, [into my] employees, and [into my] community.''
  For small business owners in Kentucky and throughout the country, we 
want to make it easier to grow, invest, and hire. For families 
everywhere, we want to make taxes lower, simpler, and fairer. In short, 
we want to take more money out of Washington's pockets and put more in 
the pockets of the middle class. That is why we are pushing tax reform.
  Yesterday, the Senate Finance Committee began to mark up its tax 
reform legislation. The meetings this week represent the next step in a 
years-long campaign, which included dozens of hearings and significant 
input from both sides.
  Chairman Hatch said yesterday:

       First and foremost, this legislation will provide much-
     needed tax relief to American workers and families. It 
     reduces rates across the board, particularly for those in the 
     middle class who have struggled to get through the past 8 
     years of economic stagnation.

  Indeed, under the Finance Committee's proposal, the typical American 
family of four earning the median income could see a tax cut of nearly 
$1,500.
  As these hearings continue, I would like once again to commend 
Chairman Hatch for his leadership of the committee and his commitment 
to regular order. As the tax proposal advances through an open process, 
members of the Finance Committee will consider many of the hundreds of 
amendments that have already been filed on the bill. Once the committee 
completes its work, the bill will come before the full Senate.
  Along with our colleagues in the House, as well as President Trump 
and his team, we will continue to push for tax reform to fulfill 
important shared goals for our country. We have a lot of work ahead of 
us, but we are committed to getting this done for the

[[Page S7186]]

American people. I hope that our Democratic friends will join us.
  As I said before, until very recently, our colleagues on the other 
side of the aisle used to support many of the ideas included in this 
bill. The underlying ideas haven't changed. The urgent need for tax 
reform hasn't changed. The only thing that has really changed is the 
occupant of the White House. So I hope Senate Democrats will put aside 
partisanship and work with us in a serious way to deliver this much 
needed relief to small businesses and the middle class.

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