[Congressional Record (Bound Edition), Volume 163 (2017), Part 11]
[House]
[Page 15742]
[From the U.S. Government Publishing Office, www.gpo.gov]




                               TAX REFORM

  (Mr. BANKS of Indiana asked and was given permission to address the 
House for 1 minute.)
  Mr. BANKS of Indiana. Mr. Speaker, the last time Congress passed 
fundamental tax reform, I was 7 years old. It is long past time that 
our broken Tax Code is fixed and our country gets back on a path to 
robust and sustained economic growth.
  As we consider tax reform legislation, we should look to my home 
State of Indiana for inspiration. During my time as a State senator, 
Indiana lowered business taxes by nearly 50 percent, and rates are 
scheduled to fall even further in the coming years.
  By 2022, the Hoosier State will have the third lowest corporate tax 
rate in the Nation. At the same time, Indiana has removed many special 
interest loopholes and carve-outs to make the system simple and fair 
for all Hoosier taxpayers.
  According to the nonpartisan Tax Foundation, Indiana has the eighth 
best business tax climate in the country, a number that will only get 
better as tax rates continue to go down.
  The results speak for themselves: Indiana has an unemployment rate 
below 4 percent, strong economic growth, a AAA credit rating, and a 
$1.8 billion surplus in the bank.
  Lower taxes combined with simplicity and fairness--this is the model 
that we need to embrace if our country is going to return to sustained 
3 percent and greater growth.

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