[Congressional Record Volume 163, Number 188 (Thursday, November 16, 2017)]
[Senate]
[Pages S7269-S7270]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               TAX REFORM

  Mr. McCONNELL. Mr. President, during the past decade, many in the 
middle class struggled to make ends meet. The economy was sluggish, 
paychecks were often stagnant, and jobs for many were too hard to 
find--perhaps not on the coasts, where the well-to-do were able to 
flourish under the Obama economy--but in middle America, in States like 
Kentucky, the pain was real.
  Hard-working families across the country deserved better. They 
continue to deserve an economy that reaches for its true potential, one 
in which more Americans can find a good job to support their families 
and achieve the American dream.
  So now this is our chance to set a new course. This is our 
opportunity to jump-start the economy and boost job growth. Passing tax 
reform is the single most important thing we can do right now to 
support those left behind by the Obama economy.
  Though obvious, it is worth repeating: Our Nation's Tax Code is 
broken. First, the rates are too high. Americans are sending too much 
of their hard-earned money to Uncle Sam. Second, the structure is too 
complicated for most Americans to understand, and it is too easy for 
the wealthy and well-connected to exploit. Third, the incentives are 
often outdated or simply make no sense at all--like those that actually 
encourage American jobs and companies to move overseas. That is bad for 
our country, bad for the middle class, and bad for small business.
  In my home State of Kentucky, a small business CEO wrote a column in 
a publication about her experiences with our broken tax system, calling 
for

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tax reform to fix it. Here is what she said:

       The federal government takes too much. Our small 
     businesses--which according to the U.S. Small Business 
     Administration total 96.5 percent of Kentucky's employers--
     often face the greatest tax burden.

  This Kentuckian continued:

       If we want better lives for the nearly 700,000 employees 
     across the [C]ommonwealth who work for small enterprises, we 
     must lift this weight off their backs.

  Small businesses deserve a tax code that works for them. Middle-class 
families and individuals deserve the same. That is why we are working 
so hard to enact tax reform. Over in the Senate Finance Committee, 
Chairman Hatch has laid down a tax reform proposal that is premised on 
a single idea; that we should take more money out of Washington's 
pockets and put more money in the pockets of the middle class.
  It cuts taxes for middle-class families. It doubles the child tax 
credit. This plan does a lot of things, including providing relief for 
businesses so they can create more jobs here in America and then keep 
them here. The Nation's leading small business advocacy organization 
endorsed this legislation, saying that it ``will provide much needed 
tax relief to enable small businesses to grow and create jobs.''
  There is another important provision of the Finance Committee's tax 
reform proposal as well. It will deliver relief to low- and moderate-
income families by repealing ObamaCare's individual mandate tax. In 
other words, we can deliver even more relief to the middle class by 
repealing an unpopular tax from an unworkable law. It just makes sense.
  I would like to once again thank Chairman Hatch for his commitment to 
an open process and regular order. The Finance Committee will report a 
bill soon. Before it does, however, it will continue to consider a 
number of amendments from both sides of the aisle. In fact, the 
chairman's modified mark already incorporated amendments from both 
Republican and Democratic members of the committee.
  I look forward to the Finance Committee completing its work on this 
crucial legislation very soon. As it does, our colleagues in the House 
will continue working on their own tax reform legislation. I commend 
Chairman Brady and the members of the Ways and Means Committee for 
their efforts. I look forward to the full House passing their bill.
  Once both Chambers pass their tax reform bills, we will keep working 
together to get a bill to President Trump's desk for his signature.
  I am also grateful to Chairman Murkowski and members of the Senate 
Energy and Natural Resources Committee for reporting bipartisan 
legislation yesterday to secure our Nation's energy future. By further 
exploring the responsible development of Alaska's resources, this bill 
can help grow our economy, support high-paying jobs, and strengthen our 
national security. I look forward to promoting American energy 
independence through this legislation.

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