09.27.17

Unified Framework For Fixing Our Broken Tax Code

‘After a decade of lost growth, hardworking American families know the status quo is unacceptable. They want to keep more of their hard earned money so they can make ends meet, provide for their children, and save for retirement. We need to make it easier for America to compete here at home and overseas,” said Senate Majority Leader Mitch McConnell (R-KY). “It’s time to take more money out of Washington’s pockets, and put more of it in the pockets of Americans.’

WASHINGTON, D.C. - The Trump Administration, the House Committee on Ways and Means, and the Senate Committee on Finance have developed a unified framework to achieve pro-American, fiscally-responsible tax reform. This framework will deliver a 21st century tax code that is built for growth, supports middle-class families, defends our workers, protects our jobs, and puts America first. It will deliver fiscally responsible tax reform by broadening the tax base, closing loopholes and growing the economy.

“After a decade of lost growth, hardworking American families know the status quo is unacceptable. They want to keep more of their hard earned money so they can make ends meet, provide for their children, and save for retirement. We need to make it easier for America to compete here at home and overseas,” said Senate Majority Leader Mitch McConnell (R-KY). “It’s time to take more money out of Washington’s pockets, and put more of it in the pockets of Americans.”

This unified framework serves as a template for the tax-writing committees that will develop legislation through a transparent and inclusive committee process. The committees will also develop additional reforms to improve the efficiency and effectiveness of tax laws and to effectuate the goals of the framework.  The Chairmen welcome and encourage bipartisan support and participation in the process.

The full framework can be found HERE, and a one page overview can be found HERE. 

Related Issues: Taxes, Tax Reform