[Congressional Record Volume 164, Number 119 (Monday, July 16, 2018)]
[Senate]
[Pages S4963-S4964]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               TAX REFORM

  Mr. RISCH. Mr. President, as you may know, I enthusiastically 
supported the Tax Cuts and Jobs Act that passed the Senate and was 
signed into law 6 months ago. Over the past 6 months, the law's 
positive impact on our country's economy has not gone unnoticed. 
Companies, both large and small, are distributing bonuses, raising 
wages, and investing in their businesses. While many observers 
recognize the positive ways in which the law is increasing economic 
confidence and lowering rates for individual taxpayers, the benefits to 
small businesses are sometimes overlooked. As chairman of the Senate 
Committee on Small Business and Entrepreneurship, I strongly supported 
the tax law because I believed it would reduce taxes for small 
businesses responsible for employing millions of Americans, allowing 
small business owners to invest in their businesses and increase 
economic growth. I recently began this series of speeches to bring 
attention to the benefits this law provides for small businesses.
  While many reports over the past 6 months focus on the new tax law's 
impact on large corporations, I rise today to bring attention to how 
tax reform is benefiting HBM Technology Partners, a small business in 
Reno, NV. HEM Technology Partners provides computer hardware, 
information technology systems, and computer services

[[Page S4964]]

to businesses throughout the Reno area. HBM Technology Partners, 
incorporated by Harry Foote in 1929 as Harry's Business Machines, 
originally sold typewriters and various office supplies. After 
weathering the hard years of the Great Depression and World War II, 
Harry's son, Gordon, became active in the business after returning from 
serving our country in the Armed Forces. In the early 1980s Gordon's 
son, Gary, continued the family tradition of working in the business, 
and the company began selling electronics, computers, and printers. 
During this time, the company also started providing specialty plastic-
card printing machines to customers in the gaming industry and 
servicing Hewlett-Packard products. The company now sells several 
different types of computer hardware and software, cybersecurity 
products, data backup systems, and specialty printers. I commend HBM 
Technologies for their ability to continually evolve to meet their 
customers' needs and adapt as new technologies are introduced.
  Because of last year's tax law, this third generation family-owned 
small business recently distributed bonuses to its seven employees. 
These bonuses allow the workforce at HBM Technologies to have more 
financial freedom to provide for their families. Stories like this 
exist all over the country. The Tax Cuts and Jobs Act opens the door 
for small businesses to invest in their businesses, hire new workers, 
and increase wages. Additionally, the new law increases small 
businesses' confidence and allows them to reward their longtime 
employees, while also lowering small businesses' taxes and encouraging 
new capital investment. I congratulate HBM technologies on their hard 
work and look forward to watching their continued success.

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