[Congressional Record Volume 163, Number 192 (Monday, November 27, 2017)]
[Senate]
[Pages S7319-S7320]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                               Tax Reform

  Mr. McCONNELL. Madam President, during the last decade, our complex 
Tax Code left hard-working families behind and allowed the wealthy and 
well connected to get ahead. It is so bad that one small business owner 
in Paducah, KY, recently wrote to my office asking for relief because, 
as he said, ``Taxes are suffocating my company, and me personally.''
  The pain isn't just being felt in Kentucky. It is an urgent problem 
nationwide. Families and job creators are doing their best to get 
ahead, but too often our Tax Code keeps them from reaching for the 
American dream. Working families and small businesses in our country 
deserve better than our outdated Tax Code, and that is what we are 
trying to deliver.
  Tax reform represents the single most important thing we can do right 
now to spur economic growth, help support good jobs, and boost the 
middle class. This is our once-in-a-generation opportunity, and we 
should meet the challenge.
  Overhauling our Tax Code can mean more money for small businesses to 
hire, to invest, and to expand. It can mean families keeping more of 
what they earn to save for a rainy day or an emergency. This relief can 
even mean getting one step closer to sending a child to college, buying 
a new car, or saving more for retirement.
  This week, the Senate will continue our years-long effort toward tax 
reform. Under the leadership of Chairman Hatch, the Senate Finance 
Committee reported out legislation to replace our noncompetitive, 
complex, and outdated Tax Code.
  Through dozens of hearings, substantial hard work, and an open 
amendment process, the committee has produced a bill that would 
prioritize the middle class and small businesses so they can keep more 
of their hard-earned money.
  Our plan doubles the child tax credit, preserves the adoption tax 
credit, and roughly doubles the standard deduction to reduce how much 
income is taxed in the first place.

[[Page S7320]]

  Put it all together, and a typical middle-class family of four making 
a median family income could see a tax break of around $2,200. As 
families sit around the table to balance their budgets and plan for the 
future, this money will make a significant impact.
  In addition, our tax reform proposal will provide much needed relief 
for low- and middle-income families by repealing ObamaCare's individual 
mandate tax. By ending an unpopular tax from an unworkable law, this 
plan can help those who need it most.
  The bottom line is this: We want to take more money out of 
Washington's pocket and put more money into the pockets of American 
families. To accomplish this goal, we will continue to consider the 
plan under regular order. Every Member will have a chance to offer 
amendments on the floor, and then we will vote.
  There are many places in this legislation where we should all--
Republicans and Democrats--be able to agree. For instance, our 
Democratic colleagues have the opportunity to help us end tax 
incentives that contribute to American jobs going overseas. That sounds 
like something our friends across the aisle should support. In fact, 
many of them have identified those incentives as the fundamental 
problem in our current Tax Code. This is our chance to put an end to 
it. I hope they will join us in our effort to help jobs and investments 
stay right here at home.
  I am proud to continue working with my colleague to get this 
legislation one step closer to the President's desk. Let's keep working 
together to deliver tax relief for the American people.
  Now, Madam President, on another matter. Later today, the Senate will 
consider two more talented nominees to the Federal judiciary. First, we 
will vote to confirm the nomination of Dabney Friedrich to serve as 
district court judge for the District of Columbia.