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‘China Fears The Tax Changes Could Make The U.S. A More Attractive Place To Do Business’
'In The Beijing Leadership Compound Of Zhongnanhai, Officials Are Putting In Place A Contingency Plan To Combat Consequences For China Of U.S. Tax Changes…' 'Beijing Fears The Tax Changes Could Make The U.S. A More Attractive Place To Do Business' "Beijing fears the tax changes could make the U.S. a more attractive place to do business and, combined with expected higher U.S. interest rates, sap investment from China." ("U.S. Tax Plan Draws Attacks Abroad…" The Wall Street Journ… Continue Reading
12.12.17
Manufacturers Bullish On Tax Reform
'Manufacturers Are Saying Loudly And Clearly That More Jobs, Better Pay And Manufacturing Growth Are On The Horizon' "The National Association of Manufacturers said Monday its latest quarterly CEO survey reflects historically high optimism on expectations for the passage of tax reform in Washington. The trade group said CEO optimism - hitting a high mark in 20 years of the survey - should send a message to legislators that failure to enact the bill would be a blow to American business." ("Man… Continue Reading
12.08.17
Ready To Finalize Tax Reform Legislation
Senate Conference Committee Members Work To 'Send A Final Bill To The President's Desk' And 'Provide Relief To Families And Small Businesses' SENATE MAJORITY LEADER MITCH McCONNELL (R-KY): "Last week, Senators answered the calls of our constituents by voting to overhaul our complex and outdated federal tax code. We seized the opportunity to spur economic growth, to help create jobs right here at home, and to take more money out of Washington's pocket and put more money into the pockets of hardw… Continue Reading
12.07.17
Tax Reform: ‘Good For The Middle Class’
Sen. Rounds: 'The Tax Reform Bill … Takes Meaningful Steps To Reform Our Tax Code In A Manner That Will Allow Businesses To Flourish Again And Families To Keep More Of Their Hard-Earned Dollars' SEN. MITCH McCONNELL (R-KY): "For many Americans the legacy of the Obama economy is sluggish growth, stagnant paychecks and missed opportunities. A lost generation of workers still struggle with the consequences of the Great Recession and find it nearly impossible to get ahead. One of the biggest… Continue Reading
11.30.17
100+ Economists Laud Pro-Growth Tax Reform
Estimate A Gross Domestic Product (GDP) Boost Of 'Between 3 And 5 Percent' ECONOMISTS: 'Economic Growth Will Accelerate If The Tax Cuts And Jobs Act Passes, Leading To More Jobs, Higher Wages, And A Better Standard Of Living' 137 Economists: "'Ask five economists,' as the Edgar Fiedler adage goes, 'and you'll get five different answers.' Yet, when it comes to the tax reform package aimed at fixing our broken system, the undersigned have but one shared perspective: Economic growth will accele… Continue Reading
11.29.17
‘Reducing Taxes For The Middle Class’
The Senate 'Finance Committee Plan Cuts Tax Rates Across The Board' 'Laser-Focused… On Reducing Taxes For The Middle Class' SEN. ORRIN HATCH (R-UT): "[W]e have been laser-focused… on reducing taxes for the middle class. And that is exactly what this bill will do." (Sen. Hatch, Press Release, 11/10/2017) FINANCE COMMITTEE: "The Finance Committee plan cuts tax rates across the board. The proposal also repeals a number of tax credits and benefits that predominantly benefit wealthy … Continue Reading
11.29.17
‘Tax Reform Our Economy Desperately Needs’
Economists, Manufacturers & Retailers Associations: Tax Reform 'Will Yield More Jobs And Higher Wages' MANUFACTURERS & RETAILERS: 'Passing Historic Tax Reform Would Deliver … Immense Benefits To U.S. Workers' JAY TIMMONS, President and CEO, National Association of Manufacturers, and MATTHEW SHAY, President and CEO, National Retail Federation: "[W]e have brought together two of the largest sectors of America's economy - manufacturing and retail - to help our elected leaders seize… Continue Reading
11.28.17
An ‘Excellent Tax Bill For Small Business’
Small Business Advocates Agree: Senate Tax Bill Is 'Exactly What Small Business Owners And Entrepreneurs Need Right Now In Order To Grow' SEN. RISCH: 'The Aim Of This Entire Exercise Is To Reduce The Burden On Taxpayers And Create An Environment That Enables Families And Businesses, Particularly Small Businesses, To Thrive' SENATE MAJORITY LEADER MITCH McCONNELL (R-KY): "These are the job generators that produce most [of the] jobs in America. And every small business group I can think of is … Continue Reading
11.20.17
Targeting Inversions: ‘This Is A Really Big Deal’
Tax Reform 'Would Do Far More To Stop Corporate Tax Gaming Than Anything The Obama Administration Did In Eight Years' SEN. ROB PORTMAN (R-OH): "I think there is a consensus, at least in the real world, about the fact that our current tax code is hopelessly broken, and we have to fix it, and if you're against helping our companies stay American companies, that must mean that you believe that they ought to become foreign companies, which is exactly what's happening. … Ernst and Young, whi… Continue Reading
11.17.17
Huge Steps Forward On Tax Reform
First The House Of Representatives, Then The Senate Finance Committee Passed Sweeping Tax Reform legislation House Passage A 'Key Milestone,' 'Significant Leap Forward' In Republicans 'Quest To Cut Taxes For Businesses And Individuals' SPEAKER RYAN: "We need to restore growth. We need to restore opportunity. We need to restore this beautiful thing we affectionately call the American Idea. Passing this bill is the single biggest thing we can do to grow the economy, to restore opportunity, and… Continue Reading
11.17.17
‘A Pro-Growth, Pro-Family Proposal That Will Reduce Taxes’
Conservative Groups Say Senate Tax Reform Plan 'Simplifies The Code, Reduces Taxes For Families And Businesses, And Grows The Economy' AMERICANS FOR TAX REFORM: "The Senate's Tax Cuts and Jobs Act is a pro-growth, pro-family proposal that will reduce taxes on Americans at every income level and dramatically simplify the 70,000+ page tax code. It will also provide a much-needed overhaul to the outdated tax code so that businesses large and small will again be able to compete against foreign comp… Continue Reading
11.16.17
Job Creators: Senate Tax Plan Will ‘Energize Our Nation’s Economy’
'Momentum Is Building For Historic Tax Reform… That Lifts Everyone Up And Leaves No One Behind,' 'We Can Revitalize The Job Market And Reinvigorate Local Economies' 'Tax Reform Is Vital,' 'This Is A Proposal That Would Cut Taxes, Create Jobs And Energize Our Nation's Economy' JAY TIMMONS, National Association of Manufacturers President and CEO: "Momentum is building for historic tax reform, and the Senate's bold vision takes us one step closer to victory-to a plan that lifts everyone … Continue Reading
11.16.17
‘A Bigger Tax Cut’
SEN. TOOMEY: 'Every Single Cohort Has A Larger Savings, Which Is To Say A Bigger Tax Cut, Under This More Recent Version Than The Previous Version, Right?' JCT: 'That's Correct' Average Savings Today Is 9.5% For The $20-30,000 Income Cohort, Vs. 7% Last Week SEN. PAT TOOMEY (R-PA): "These [tax bill] iterations are getting better and better for working families, middle class, and in every cohort. So Mr. Barthold, let me ask you a couple of questions if I could. And I want to focus on taxes th… Continue Reading
11.15.17
‘Tax Relief To Enable Small Businesses To Grow’
National Federation Of Independent Business 'Strongly Supports The Chairman's Mark' JUANITA DUGGAN, President & CEO, NFIB: "On behalf of the National Federation of Independent Business (NFIB), the nation's leading small business advocacy organization, I am writing to thank you and your staff for your continued commitment to America's small businesses. NFIB strongly supports the Chairman's Mark, as modified, to provide appropriate tax relief for America's small businesses." (Juanita D. Dugga… Continue Reading
11.15.17
Flashback: Sen. Wyden’s Plan To Tax The Poor
SEN. RON WYDEN (D-OR): "…big thanks to Mark [Mazur] and the [Tax Policy C]enter for their usual professional job of making sure that we have a real debate and have a real discussion." (Sen. Wyden, Remarks To The Tax Policy Center, 11/7/2017) THEN Liberal Tax Policy Center: Under Sen. Wyden's 2010 Tax Bill 'Close To A Fifth Of Those In The Bottom Two Quintiles Experience A Tax Increase' "The Bipartisan Tax Fairness and Simplification Act of 2010 ("Wyden-Gregg," introduced as S. 3018) … Continue Reading
11.13.17
‘The Senate Tax Bill … Would Boost The Economy’
'Higher Wages And … An Additional 925,000 Full-Time Equivalent Jobs' "The Senate tax bill introduced Thursday would boost the economy, creating 925,000 new jobs and raising wages by 2.9 percent over 10 years, according to a new analysis released Thursday by the Tax Foundation." ("Senate Bill Would Cut Taxes By $1.78 Trillion, Create 925k New Jobs, Study Finds," Washington Examiner, 11/10/2017) 'The Plan Would Increase Long-Run GDP By 3.7 Percent' TAX FOUNDATION: "Our analysis finds t… Continue Reading
11.13.17
Finance Committee Republicans Applaud Senate Tax Relief Plan
CHAIRMAN HATCH: 'We Have Been Laser Focused… On Reducing Taxes For The Middle Class' SEN. ORRIN HATCH (R-UT): "[T]oday as Chairman of the Senate Finance Committee, I'm releasing a Chairman's mark for the Senate version of the Tax Cuts and Jobs Act, legislation that is the culmination of years of effort to reform or nation's tax code. Now, we've been at this a long time and today's mark marks a significant step forward in this effort." (U.S. Senate Finance Committee, Press Release, 11/1… Continue Reading
11.09.17
ANWR: ‘A Tremendous Opportunity For Both Alaska And Our Country’
SEN. MURKOWSKI: 'The Economic Benefits Will Be Substantial, Our National Security Will Be Strengthened, And The Environmental Impacts Will Be Minimal' SEN. MURKOWSKI: This Legislation 'Will Put Us On A Path Toward Greater Prosperity' SEN. LISA MURKOWSKI (R-AK): "This legislation is a tremendous opportunity for both Alaska and our country… The legislation I released tonight will put us on a path toward greater prosperity by creating jobs, keeping energy affordable for families and busi… Continue Reading
11.03.17
Dems New Position On Tax Reform: ‘We Have To Make Sure This Doesn’t Happen’
Democrats Used To Say 'Comprehensive Tax Reform Has To Happen' Now 'Have No Intention Of Engaging With Republicans' "[P]rivately, Democratic leaders have no intention of engaging with Republicans [on tax reform] even if they offered, sources close to them say. House Minority Leader Nancy Pelosi (D-Calif.) is convinced another GOP crash-and-burn would likely hand Democrats the House next year, so there's no political upside to playing ball. … 'So we have to make sure this doesn't happen.'… Continue Reading
11.02.17
House Tax Reform Proposal ‘A Big Step Forward’
Senators Applaud Chairman Kevin Brady & The House Ways And Means Committee 'Their Legislation Marks The First Step Towards Our Goal Of Modernizing A Tax Code' SENATE MAJORITY LEADER MITCH McCONNELL (R-KY): "Today, the House of Representatives took a big step forward in our effort to help provide the American people with a robust economy that reaches for its full potential: that puts more money in middle-class pockets, that produces better jobs for workers, that secures more opportunity … Continue Reading
