[Congressional Record (Bound Edition), Volume 163 (2017), Part 7]
[Senate]
[Page 9111]
[From the U.S. Government Publishing Office, www.gpo.gov]




                       THE ECONOMY AND TAX REFORM

  Mr. McCONNELL. Mr. President, now, on one final matter, after 8 years 
of sluggish economic growth under the Obama administration, I was 
pleased to see some positive numbers out of last month's jobs report. 
Now, following so many years of failed leftwing policies that held 
Americans back, a new administration and a pro-growth Congress have 
been working together to move our economy and job creation in a 
positive direction. We have already undertaken what has been described 
as the most ambitious regulatory rollback since Reagan, and we are 
working hard in a number of other areas as well.
  In fact, this month the administration is redoubling those efforts on 
the economy, kicking off with an emphasis on workforce development. 
These initiatives are a top priority for many States like mine, who are 
proud to have a Governor who has been a staunch advocate for expanding 
apprenticeship programs and preparing a workforce that can fill current 
employment gaps while also attracting new businesses and job 
opportunities to our State.
  I have also been proud to play a role in supporting these efforts, 
and I have worked to secure Federal funds for workforce development 
programs in Kentucky. Specifically, I have been proud to help secure 
funding for training and employment services for laid-off coal miners 
in an effort to help them find new job opportunities.
  Efforts like these are critical in preparing American workers for 
success in today's global economy, but we know there is more we can do 
to help. One way the Republican Senate is working to do that is through 
tax reform. It has been more than 30 years since we last passed 
comprehensive tax reform legislation, and since then, the international 
economy has only grown more competitive. That is why it is imperative 
that we do what we can to modernize our tax structure, as we also 
better prepare America's workforce for the many challenges and the 
global competition that face us in today's economy.
  Over the past three decades, our tax system has grown increasingly 
convoluted and punitive, making it harder for individuals and 
businesses to succeed. In fact, according to the National Taxpayer 
Advocate's annual report to Congress, ``if tax compliance were an 
industry, it would be one of the largest in the United States.'' It is 
not hard to see why, considering that our Internal Revenue Code is made 
up of about 4 million words, which, to give some context, is nearly 
seven times longer than Leo Tolstoy's notoriously lengthy ``War and 
Peace.''
  It goes on to say that ``a simpler, more transparent tax code will 
substantially reduce the estimated six billion hours and $195 billion 
that taxpayers spend on income tax return preparation; reduce the 
disparity in tax liabilities between sophisticated or well advised 
taxpayers and other taxpayers; enable taxpayers to understand how their 
tax liabilities are computed and prepare their own returns; improve 
taxpayer morale and tax compliance . . . and enable the IRS to 
administer the tax system more effectively and better meet taxpayer 
needs.''
  In short, as that report observed, when it comes to our Tax Code, 
there is no doubt simpler is better.
  So how do we get a simpler Tax Code? With tax reform. But that is 
just one of the numerous benefits that would come from a revised tax 
system.
  For instance, instead of inadvertently incentivizing companies to go 
overseas, as our current Tax Code does, a revised system would 
encourage businesses to keep jobs right here in the United States. 
Instead of restricting businesses' ability to expand, create jobs, and 
increase wages, as our current Tax Code does, a revised system would 
open up more opportunities for workers. Instead of deterring the type 
of growth that boosts the economy and puts more people back to work, as 
our current Tax Code does, a revised system would actually promote 
American investment.
  These are just the types of solutions middle-class families need 
right now, and they are the types of policies that the Republican 
Senate will continue to pursue as we work to reform our tax system. 
Fortunately, we now have an administration that is actually interested 
in making our Tax Code simpler for families and American businesses 
alike, without demanding $1 trillion in tax hikes for more government 
spending.
  Respective committees in the House and Senate have been working for 
some time to move our tax reform efforts forward, and the Speaker and I 
recently had a productive meeting with the President about this very 
issue. I appreciate the good work my colleagues are doing on this 
matter, especially the Finance Committee chairman, Senator Hatch, who 
has long been an advocate for simplifying our Tax Code. He has been 
working closely with committee members and Chairman Brady to advance 
the tax reform our economy simply demands.
  This is not an easy process. There are difficult issues that must be 
navigated, particularly with respect to business reform, but I am 
confident we can arrive at solutions that will be good for American 
workers and the businesses that employ them. We have made progress 
already, and we will keep moving forward as Members offer their input 
for consideration.
  I hope our friends across the aisle will come together in support of 
these bipartisan objectives as well, but either way, we have to keep 
working on this issue because we know the benefits tax reform can have 
for the American people who, after 8 long years of sluggish economic 
growth under the Obama administration, deserve a lot more.

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