[Congressional Record Volume 164, Number 56 (Monday, April 9, 2018)]
[Senate]
[Page S1994]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               TAX REFORM

  Mr. McCONNELL. Mr. President, now on one final matter, there is just 
one more week until the deadline for Americans to file our 2017 tax 
returns. It is not exactly a national holiday, but this year there is a 
silver lining. This April is the last time Americans will file taxes 
under the old, outdated Tax Code that is on its way out, thanks to 
historic tax reform.
  A year from now, families will be filing under a simpler and fairer 
tax code that lets them keep more of what they have earned and send 
less to the IRS. They will benefit from a doubled standard deduction, 
from major expansions in key provisions like the child tax credit, and, 
of course, from significantly lower tax rates.
  All told, the average family of four earning a median income of 
around $70,000 could see a tax cut of over $2,000. But let's remember, 
the American people do not need to wait until next year to start seeing 
the fruits of once-in-a-generation tax reform.
  Job creators are already implementing plans to hire, expand, and 
invest in their American workers. Millions of workers have already 
received word of a tax reform bonus, permanent raise, or other new 
benefits, such as paid family leave policies or expanded retirement 
assistance. That includes thousands of employees of Southwire, a wire 
manufacturer that employs hundreds of Kentuckians at its location in 
Hawesville. For hard-working men and women at Southwire, tax reform 
means bonuses and expanded educational opportunities.
  The benefits of our new 21st century Tax Code are certainly no 
secret. As Americans put the finishing touches on their tax returns 
under the old, outdated system for the last time, there is good news to 
look forward to, and there is good news that is actually already here.

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