[Congressional Record Volume 163, Number 187 (Wednesday, November 15, 2017)]
[Senate]
[Pages S7225-S7226]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               TAX REFORM

  Mr. McCONNELL. Mr. President, the need for tax reform has been 
obvious for a long time now. Many Republicans have said it. Many 
Democrats have said it. We certainly hope Democrats will continue to 
stand by their strong statements in support of tax reform today, 
because while the occupant of the Oval Office may have changed, the 
need for tax reform certainly hasn't.
  Indeed, after many long years of an Obama economy that so often 
failed the middle class, its effects continue to be felt across the 
country for many: for single parents who still struggle to make ends 
meet; for moms and dads who still struggle to find a way to send their 
kids to college, make a car payment, or save for retirement; and for 
small business owners who still find themselves frustrated when they 
try to hire more employees, reinvest in their business or pursue their 
dreams.
  There are many obstacles to tackle--an out-of-control regulatory 
state, for one. We have taken significant action to tame that already, 
and we will continue to do so.
  Another huge factor is our seriously outdated Tax Code. Filled with 
complicated schedules, worksheets, deductions, and loopholes, the code 
is easy for the wealthy and well-connected to game and almost 
impossible for almost anyone else to understand. If you are wealthy, 
you hire accountants and lawyers to navigate a complicated process. But 
the young, small business owner starting out can't afford a team to do 
her taxes and bring on a new employee or raise wages.
  Moreover, the Tax Code actively punishes those small businesses and 
the middle class with rates that are too high, provisions that are 
clearly outdated, and incentives that are just plain ridiculous--like 
the fact that it actually encourages the shipping of American jobs and 
businesses overseas. Our Tax Code actually encourages that. That is why 
this Congress, in conjunction with the White House, is working hard to 
pass tax reform.
  Today the Senate Finance Committee will continue to examine its tax 
reform proposal under Chairman Hatch's leadership. Members are 
continuing to discuss the best path forward to deliver relief to the 
men and women we represent. This week's hearings are just the latest in 
a years-long process to write a tax code that supports the middle 
class. In fact, since Chairman Hatch has been the top Republican on the 
Finance Committee, it has hosted 70 hearings in the last 6 years. Each 
one of those hearings considered how to improve the Tax Code to make it 
work better for all Americans.
  The committee has made numerous serious efforts to engage across the 
aisle to get this done. Members on both sides agree that a pro-growth 
tax plan will move our economy forward, help create more jobs, and help 
families keep more of their hard-earned paychecks, or at least our 
Democratic friends used to, seemingly, until President Trump came 
along.
  The plan before the committee fulfills important goals that all of us

[[Page S7226]]

should share. It aims to make taxes for families lower, simpler, and 
fairer. According to the nonpartisan Joint Committee on Taxation and 
recent news reports, the ``Middle Class [are the] biggest winners in 
[the] Senate tax plan.''
  It also aims to make it easier for small businesses to grow, invest, 
and hire. For Kentucky's small businesses and for those across the 
country, this proposal will help to do just that by creating incentives 
to bring investment and jobs home and keep them here.
  The plan before the Finance Committee fulfills our main goal for tax 
reform, which is taking more money out of Washington's pockets and 
putting more money into the pockets of the middle class.
  Last evening, the committee released a modified chairman's mark that, 
among other important elements, will effectively repeal ObamaCare's 
individual mandate tax so we can provide even more tax relief to low- 
and middle-income families. In short, the goal is to repeal an 
unpopular tax from an unworkable law in order to provide more tax 
relief to middle-class families.
  Now, as the committee continues its legislative markup through an 
open process, it will explore further ways to improve this good 
legislation. Both Republicans and Democrats have offered hundreds of 
amendments. Chairman Hatch is setting aside full days for the committee 
to consider them. Once the Finance Committee completes its work and 
reports its proposal to the Senate floor, all Members will have the 
chance to offer their amendments under the regular order.
  Another Senate committee is having an important markup today as well. 
The Senate Energy and Natural Resources Committee is beginning its 
consideration of an important proposal to support good jobs, our energy 
future, and our national security.
  So, once again, I commend Chairman Murkowski and the members of the 
committee for their work on this proposal to further develop Alaska's 
oil and natural gas potential in an environmentally responsible way--
more American jobs, more American energy, and more energy security and 
independence. I look forward to the Energy Committee reporting its 
legislation today.

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