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‘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
11.27.17
Economists Laud Pro-Growth Tax Reform
ECONOMISTS: 'The House And Senate Finance Bills Would Achieve' 'Pro-Growth Objective' WALL STREET JOURNAL: "…a letter from some of the country's most distinguished economists making the case that the House and Senate reforms will significantly raise U.S. growth potential." (Editorial, "Tax Reform, Growth and the Deficit," Wall Street Journal, 11/27/2017) "Dear Mr. Secretary: The present debate over tax reforms proposed by President Trump's administration and embodied in bills that ha… 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
Dem Demagoguery Debunked
JOINT COMMITTEE ON TAXATION: 'There's Nothing [In The Chairman's Mark] That Mandates That People Give Up Insurance' SEN. MIKE ENZI (R-WY): "I've been hearing this word that [repeal of the individual mandate tax is] going to 'kick' 13 million people off health insurance. Is there anything in there that says we're going to 'kick' anybody off?" Joint Committee On Taxation: "The result in terms of changes in the uninsured is a result of decisions made. There's nothing that mandates that people giv… Continue Reading
11.15.17
‘A Tax Code That's Pro-Family’
IVANKA TRUMP: 'Today, In The Vast Majority Of American Homes, All Parents Work. Our Tax Code Has To Recognize And Support… This Reality' "Ivanka Trump scores win with Senate plan to double child tax credit: Ivanka Trump notched a policy victory late Tuesday night when the latest revisions to the Senate tax bill proposed doubling the child tax credit." ("Ivanka Trump Scores Win With Senate Plan To Double Child Tax Credit," Politico, 11/15/2017) SEN. MARCO RUBIO (R-FL): "…I welcome… 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
‘Middle Class Biggest Winners In Senate Tax Plan’
'Making Good On Republican Promises To Focus On 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) 'Middle Class Biggest Winners In Senate Tax Plan, [Joint Committee On Taxation] Study Says' The Hill: "All income groups on average would see their taxes go down under Senate Republicans' tax bill, according to Congress's tax scorekeeper. The … 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
11.03.17
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
10.20.17
Budget Passage ‘A Major Step Forward’ ‘To Overhaul The Tax Code’
SEN. MIKE ENZI (R-WY): "This budget resolution is the first step to pro-growth tax reform, as it will provide the fiscal headroom needed for the tax-writing committees in the Senate and the House to produce tax reform legislation… Hardworking families deserve a system that works for everyone in order to provide higher wages and more jobs. Pro-growth tax reform can help U.S. businesses and their workers compete in the global marketplace, spur investment and job growth here at home, and fr… Continue Reading
10.19.17
The Death Tax Is ‘Just Plain Wrong’
Sen. Ron Wyden, Finance Committee Ranking Member: 'If You Oppose Losing Farmland To Strip Malls… You Should Stand With Me And Work To Repeal The Estate Tax' SEN. JOHN THUNE (R-SD): "As if the long arm of the IRS isn't intrusive enough during life, too often the death tax punishes hard-working Americans even after they've passed away… In an environment where it's frequently too difficult and costly for family-owned farms to be passed from one generation to the next, we should be kn… Continue Reading
10.19.17
Dems & Debt: ‘Just Put It On The National Credit Card’
DEM RHETORIC: 'We Don't Want A Reform To Balloon The Debt' SEN. CHUCK SCHUMER (D-NY): "…we don't want a reform to balloon the debt… we should not pile hundreds of billions, maybe trillions more on top of the debt. Tax reform should be deficit neutral." (Sen. Schumer, Congressional Record, S.5244, 9/13/2017) REALITY: 'This Budget Resolution Puts Our Nation On A Path To Balance' SEN. MIKE ENZI (R-WY): "This budget resolution puts our nation on a path to balance by restraining fe… Continue Reading
