[Congressional Record Volume 163, Number 195 (Thursday, November 30, 2017)]
[Senate]
[Pages S7507-S7508]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               TAX REFORM

  Mr. McCONNELL. Mr. President, from across my home State of Kentucky, 
I have heard the calls for tax reform. For too long, hard-working men 
and women have been held back by an economy that has failed to live up 
to its potential. They are ready for us to get the economy going again.
  For example, the East Kentucky Power Cooperative, which serves more 
than half a million families and businesses in my State, recently wrote 
to my office in support of tax reform. The cooperative encouraged us 
``to put more disposal income into the hands of hard-working citizens 
and encourage investment and long-term economic growth.''
  In addition, the Kentucky Chamber of Commerce, which represents 
thousands of businesses across the Commonwealth, recently wrote a 
letter encouraging us to consider relieving ``the tax burden of small 
businesses by simplifying the code and reducing costs.'' It concluded 
the letter by asking the Senate to ``support federal tax reform to 
achieve the economic growth that has been Kentucky's potential for so 
long.''
  This morning, a group of small business men and women from Kentucky 
joined Senators here on the Hill with Small Business Administrator 
Linda McMahon to discuss the urgent need for tax reform. I would like 
to thank Senator Blunt for hosting this event to hear from these job 
creators and to reiterate that they are at the forefront of our tax 
reform efforts.
  The people of Kentucky have struggled under our outdated and complex 
Federal Tax Code. It is time to overhaul it and deliver real relief to 
middle-class families and small businesses.
  For a number of years, our friends across the aisle, including the 
ranking member of the Finance Committee and the Democratic leader, have 
vocally called for tax reform. They claimed they supported efforts to 
close loopholes and help American businesses become more competitive 
here at home. They claimed they supported policies to help prevent more 
jobs from moving overseas. The good news is that is exactly what our 
tax reform legislation does. So passing this bill to help keep jobs and 
investment in the United States would be something upon which we can 
all agree.
  A group of economists from around the country recently penned a 
letter expressing the need for tax reform. After examining the proposal 
put forward, these economists agree that the House and Senate plans 
have the ability to grow the economy and increase the income of 
American families. In particular, they wrote that tax reform can reduce 
the incentives for companies to move investment overseas. That means 
the bill we are considering would discourage corporations from moving 
jobs and investments abroad. For working families who have endured a 
decade of lost jobs and opportunities, this is welcome relief indeed.
  So why would our Democratic friends support this idea in theory but 
then oppose legislation once they finally have the chance to put the 
plan into action? What changed? Not the ideas. Not the need for tax 
reform. The only change has been the person in the Oval Office.
  This is our once-in-a-generation opportunity to take more money out 
of Washington's pocket and put more money into the pockets of hard-
working families. We shouldn't let partisanship distract us from 
delivering real relief to the middle class. Believe me, we will not.
  Under Chairman Hatch's leadership, the Senate Finance Committee 
passed this legislation that is the product of years of hard work, 
dozens of hearings, and an open amendment process. I would like to once 
again thank Chairman Hatch for his efforts to get us to this pivotal 
point where we can consider a proposal that could truly help our 
constituents.
  First and foremost, the tax reform proposal before us today is good 
for families. To a middle-class family of four in Kentucky who earns a 
median income, a nearly $2,200-a-year tax cut could make a real 
difference.
  Second, the plan is good for small businesses and job creators. It 
has earned the support of the NFIB--the National Federation of 
Independent

[[Page S7508]]

Business--because it will help small businesses grow, invest, and hire 
right here in the United States. As I said before, it will also make it 
easier for other businesses to bring jobs and investments home.
  Third, this legislation helps low- and middle-income families by 
repealing ObamaCare's burdensome individual mandate tax.
  This is a good bill. By overhauling our Tax Code, we can provide much 
needed support to the men and women who sent us here.
  Yesterday, the Senate took a crucial step toward relief. Every 
Senator who voted to proceed to this important debate has already begun 
to answer those calling out for tax reform. Now the Senate will work 
through an open amendment process here on the floor where Members from 
both parties will have the opportunity to offer their ideas. Tonight, I 
expect that Senators will have the opportunity to vote on many of these 
amendments.
  This is our chance to deliver relief to hard-working American 
families and to help the middle class get ahead. It is our opportunity 
to overhaul our complex Tax Code and shift our economy into high gear. 
We can pass many of the ideas we have discussed and supported for 
years, and I urge all of my colleagues to work together to get this 
done.

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