[Congressional Record Volume 164, Number 160 (Thursday, September 27, 2018)]
[House]
[Page H9094]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         SUPPORT TAX REFORM 2.0

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Pennsylvania (Mr. Thompson) for 5 minutes.
  Mr. THOMPSON of Pennsylvania. Mr. Speaker, last week, as I traveled 
the communities of my congressional district, I witnessed and saw 
firsthand the evidence of the great American comeback: the amount of 
jobs, the job growth that was available, the increase in wages, 
individuals who have left one job for what we call a new job, a better 
job, higher wages. The economic growth was absolutely incredible and 
inspiring, the great American comeback.
  Since the Tax Cuts and Jobs Act was passed last December, the results 
in our economy have been historic. The unemployment rate is at 3.9 
percent, the lowest it has been in decades. Job openings are at a 
record high. 213,000 jobs were added in June alone in this great 
Nation. In June, there were 6.7 million job openings--most recently 
reported, we are at 6.9 million job openings--marking the first time 
since 2000 that there have been more job openings than those who are 
unemployed.
  Over the past 12 months, the Commonwealth of Pennsylvania has added 
more than 65,000 new jobs. I witnessed a lot of those in my visits to 
manufacturers, refineries, and small businesses. It is just incredible, 
this great American comeback.
  Mr. Speaker, after years of struggling to get ahead, the American 
people are seeing more jobs, opportunity, and optimism come back. 
Small-business owners are reporting increased employment and higher 
wages at record levels. Main Streets across America are thriving. 
People have more money in their paychecks, and the tax cuts are working 
for the middle class.
  Today and Friday, this House will vote on three bills and make the 
tax cuts permanent, make the great American comeback permanent. We need 
to double down on the success and pass tax reform 2.0.
  Through the Tax Cuts and Jobs Act, we have doubled the standard 
deduction and lowered tax rates, which means that 90 percent of 
Americans are seeing more money in their paychecks this year. Plus, 
more than 4 million Americans at 642 companies see better wages, 
bonuses, and expanded retirement options.
  In fact, more than half of small businesses have plans to expand and 
boost hiring or increase employee benefits. This is tremendous news for 
American families. Too many Americans have been living paycheck to 
paycheck and have been doing so for way too long. Stagnant wages, 
growing debt, and the inability to save have plagued so many.
  Tax reform 2.0 will create and expand additional programs to help 
Americans save. For example, it creates a new savings account to offer 
a fully flexible savings tool that families can use at any time. It 
expands the 529 education savings accounts. It creates a new baby 
savings program to help with the birth of a child or an adoption.
  Mr. Speaker, I fundamentally believe that Americans should keep more 
of their hard-earned money. They deserve that. Thanks to the Tax Cuts 
and Jobs Act, Congress paved the way to create a tax system that is 
fairer, simpler, and one that establishes an environment where our 
country can thrive.
  We worked hard to do that. On Friday, we will vote to make those tax 
cuts permanent.
  If you support higher wages, if you support lower unemployment, if 
you support more jobs, if you support bigger paychecks, if you support 
the American people, then you will support tax reform 2.0.

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