[Congressional Record (Bound Edition), Volume 163 (2017), Part 6]
[Senate]
[Pages 7859-7860]
[From the U.S. Government Publishing Office, www.gpo.gov]




                               TAX REFORM

  Mr. McCONNELL. Mr. President, on another matter, as I outlined last 
week, during the Obama years, the American people struggled with an 
economy that failed to meet its potential. It had the slowest recovery 
since World War II, the middle class losing its historic status as the 
majority in our country, too many out of a job and looking for work, 
too many giving up after years of fruitless searching, too many 
fortunate just to have a paycheck but not one large enough to keep pace 
with ever-rising health costs and energy bills. This is the Obama 
legacy on the economy.
  Over 8 long years of failed leftwing policies on everything from 
regulations to taxes, a Democratic administration put on a virtual 
clinic in how not to get an economy moving again. No wonder the 
American people opted for a pro-growth direction in November.
  Ever since, this Republican Congress has been working to get our 
economy moving again and spur job creation. Rather than bury our 
economy in an avalanche of redtape, like the last administration, it is 
time for a new direction on regulations--smarter and pro-growth. 
Already, we have taken action to kick-start those efforts, like passing 
important legislation to provide relief from Obama-era midnight 
regulations.
  Rather than make our Tax Code more complex like the last 
administration, we think it is time for a new direction on taxes--
simpler and pro-jobs. Passing tax reform legislation would mark a major 
achievement in bringing us closer to that goal. This Republican 
Congress and this administration made it a priority from the very 
start. Over the years, many of our Democratic friends have also 
expressed the view that we need tax reform.
  For years, it has been clear that we should help American workers by 
reforming our outdated and convoluted tax system, which currently 
discourages investment here in America and deters companies from 
growing, creating jobs, and increasing wages.
  For years, it has been clear that we should remove a huge drag on job 
creation by reforming our overly complex and punitive tax system, which 
currently undercuts employers that want to expand with new investments, 
jobs, wages, and employee benefits.
  For years, it has been clear we should make taxes simpler and lower 
for both businesses and individuals; that we should strive for a tax 
code that works for American families and for American businesses, 
rather than working against them. This year, we finally have the 
perfect opportunity to achieve that goal. Rather than engage in blind 
opposition for its own sake on yet another issue, I hope Democrats will 
instead take the kind of constructive approach we saw the last time our 
country enacted comprehensive tax reform. Back then, both parties 
recognized the need to address the burden and growing complexity of our 
Tax Code, and they came together to actually do something about it. 
Republicans and Democrats worked side by side and across the aisle to 
move that tax legislation. It was a big win for both parties, for 
Ronald Reagan and the Republicans, for Tip O'Neill and the Democrats.
  Now it is once again time we do something about the issue, and I 
would hope our Democratic colleagues will once again work on a 
bipartisan basis toward that end. This has been a growing problem for a 
number of years now. The American people deserve a tax system that 
allows them to keep more of their hard-earned money, that empowers them 
to invest in their futures, and actually makes it easier to succeed 
rather than harder.
  We have to get this accomplished because Americans have waited long 
enough for an economy that finally lives up to its potential and 
finally allows them to realize theirs as well.
  I appreciate the House under Speaker Ryan's leadership for the role 
it is playing in these efforts. That work continues now with a Ways and 
Means Committee hearing dedicated to tax reform tomorrow and more to 
follow in coming days.
  I also appreciate the good work of Members in both the House and the 
Senate, particularly the Senate Finance Committee under Chairman Hatch, 
who has been leading our discussions. For years, the chairman has been 
hard at work with fellow Finance Committee members on both sides of the 
aisle on options for tax reform, and I am confident Senator Hatch will 
continue to lead the way on these efforts in the days and months ahead.
  The task before us is certainly a significant one, but I am confident 
we are up to the challenge because we know

[[Page 7860]]

how important it is for us to get this done, and we know how long 
overdue this is as well.

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