[Congressional Record Volume 164, Number 62 (Tuesday, April 17, 2018)]
[Senate]
[Pages S2195-S2196]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                               Tax Reform

  Mr. BARRASSO. Mr. President, today is the last tax day under the old, 
awful, and broken tax system that the American people have had to put 
up with for decades.
  Under the tax relief law that Republicans passed in this body in 
December--it was signed by President Trump and passed the House, as 
well--we now a have a simpler and fairer system and, so importantly, 
one that is much less expensive for American families.
  One big thing we did in the tax law was to double the standard 
deduction that people can take. This is what it means. This one change 
alone, all by itself, means that 95 percent of taxpayers will be taking 
the standard deduction from now on. It means people will not have to 
waste a lot of time wading through paperwork and boxes of receipts. 
People will not have to spend hours chasing after little itemized 
deductions, as they have done year after year on tax day. They will not 
just be crossing their fingers, hoping they are doing everything right, 
hoping they don't overpay, and hoping they don't run afoul of the law 
by not paying the amount that is required by law. It is going to be 
much simpler and much fairer.
  When I thought of all of the things we have been working on with tax 
relief, tax reform, tax reductions, to me, it can be summed up in just 
two words: simpler and lower. Taxes needed to be lower, and they needed 
to be simpler. So what we are seeing now is both simpler and lower 
taxes. That is a big change that people are going to notice. They are 
noticing it now in their paychecks, but they are really going to notice 
it next April 15 when they file their taxes.
  Americans will not have to wait until next year to see a lot of the 
benefits of this tax relief law. They are seeing it today because the 
law wasn't just tax reform and simplification; it was an immediate, big 
tax cut as well. It means hard-working Americans are seeing money in 
their paychecks, and they are seeing it today.
  Average wages have gone up nearly 3 percent. That is a big increase 
compared to the stagnant wage growth we saw during the entire previous 
administration.
  According to the Bureau of Economic Analysis, American workers 
brought home almost $200 billion more in February than they did in 
December. Some of it came right away in the form of bonuses that 
companies handed out because of the tax law; some of it came when 
employers cut the amount of income tax that they were withholding from 
a worker's paycheck; and some of it was because of higher wages we have 
seen with raises announced across the country. It all adds up to about 
$200 billion more for hard-working Americans.
  That is money people can then spend on things that are important to 
them and their families. It is about American families' priorities, not 
necessarily how the government thinks it can spend its money better 
than the American people. It is money people can save for things such 
as tuition for their kids, a new car, or whatever they want to save 
for. People notice that kind of difference in their take-home pay. It 
makes a big difference in their lives.
  Another thing that happens when we cut taxes is that businesses have 
more money to hire more workers. I have seen it happen in Wyoming. I 
have seen it as I travel the State. In city after city, town after 
town, community after

[[Page S2196]]

community, businesses are hiring more workers locally. In fact, the 
American economy has added over 600,000 new jobs just since Republicans 
passed and President Trump signed the tax law in December.
  These are jobs at places like Kroger. That grocery store chain--and 
they have a number of convenience stores, as well, serving all around 
Wyoming--said last week that they are going to be hiring 11,000 new 
workers. Those aren't just people at headquarters; these are people in 
stores all across the country--cashiers, produce clerks, workers in 
prepared food sections of the store. It is good for the American 
economy and good for the communities where these people are being 
hired.

  If someone has money in their pocket, they can decide to spend some 
of it, give some to charity, invest some, or save some--whatever they 
want to do. It is their money.
  In some of the stores similar to Kroger in Cheyenne, Casper, 
Gillette, Rock Springs--but we are seeing it all around the country--
stores are hiring more people. They are increasing benefits for people 
who want to continue their education or get a GED. All of these things 
are benefiting our country. The companies say it is directly because 
they are saving money under the tax law.
  We have heard this story again and again. You have heard it in your 
State, and I have heard it in mine. They are hiring because they are 
saving more money under the tax law.
  A lot of companies are paying more because they want to hold on to 
the workers they have. That is one reason the initial jobless claims 
number for the first week of April has dropped. The claims of people 
who are out of work and have filed for benefits from the government 
have dropped by 9,000 people. That is a sign that people are keeping 
their jobs and don't need to apply for unemployment benefits.
  The number of jobless claims has been low now for the longest stretch 
ever. They have been keeping records since 1967, and nobody has ever 
seen it like this.
  One economist looked at all the good news and said: ``The job market 
is rip-roaring.'' The American people don't need an economist to tell 
them that. All they need to do is look around their own hometown. I see 
it at home in Wyoming. Businesses are hiring. Workers are getting 
bonuses. They are getting raises. They are seeing more money in their 
paychecks. People all across America are feeling better about their 
jobs. I see confidence and optimism at home. People are feeling better 
about their own personal financial situation. It is certainly the case 
at home in Wyoming.
  There have been a couple of surveys that have come out recently. In 
one of them, the Pew Research Center found that the number of people 
who say that this economy is in good or excellent condition is now the 
highest it has been in two decades--20 years. That is the confidence of 
the American people in the economy.
  In a second survey, the polling firm Gallup found that investor 
optimism is at ``the highest levels . . . in 17 years.'' When we talk 
about investors, we are talking about families in Wyoming who are 
saving for their retirement. They have seen the effects of Republican 
policies like the tax relief law. They have seen what we are doing to 
cut regulations so the economy can grow, so people can be free to live 
their lives and make decisions for themselves. They have seen what 
happens when Washington starts to put America first again. All of those 
things, added together, make people confident in our economy, and it 
gives them optimism for the future.
  The only people who aren't feeling optimistic right now are the 
Democrats in Congress who, across the board, voted against this tax 
relief law. Republicans voted to lower taxes, and Democrats voted for 
higher taxes. Now Democrats seem to be desperately trying to spin their 
way out of the terrible choices that they have made.
  Over the weekend, the former Speaker of the House of Representatives, 
Nancy Pelosi, said that the Republican tax cuts ``are unfair to 
America's working families.'' Who is she kidding? The only thing unfair 
would be if Democrats get their wish and repeal the tax cuts that we 
passed and raise taxes, which apparently is what they want to do.
  I have spoken to a lot of working families at home in Wyoming. They 
are overjoyed at the extra money they have gotten in their paychecks 
since the Republicans cut taxes. Americans know that the economy has 
created 605,000 new jobs since we passed tax relief. They know we are 
breaking records for low numbers of people filing for unemployment. 
People see that the average wages are up--much higher than they were a 
year ago. They know the Republicans cut taxes, doubled the standard 
deduction, got rid of the ObamaCare individual mandate tax, and changed 
the death tax, which is a big issue for our farmers and ranchers in 
Wyoming and for small business owners.
  Hard-working Americans who just filled out their taxes know the 
Republicans are on their side, and the last thing they want is to hear 
Democrats talking about raising taxes again.
  Thank you.
  I yield the floor.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The legislative clerk proceeded to call the roll.
  Mr. DURBIN. Mr. President, I ask unanimous consent that the order for 
the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.