A ‘Massive Victory’ For The American People

‘The Kind Of Herculean Lift Many Doubted Congress Could Pull Off’

“Republicans are on the brink of passing a nearly $1.5 trillion tax overhaul, and at this point, it looks like nothing can stop them.” (“With Their Tax Bill, Republicans Prepare For A Long-Awaited Win,” CNN, 12/28/2017)

• “Republicans are poised this week to cut taxes for most American workers and businesses, fulfilling a core campaign promise.” (Editorial, “Democrats Against Tax Reform,” Wall Street Journal, 12/18/2017)

• “The plan, unveiled in its final form Friday, would make the biggest changes to the tax code in three decades. Most significant, it would drop the corporate tax rate to 21 percent from 35 percent. The bill also would cut taxes for nearly all individuals… in most cases providing some relief for the middle class.” (“GOP Faces 5-Day Scramble To Pass Tax Bill…” Washington Post, 12/17/2017)

“Republicans unveiled on Friday their final, compromise plan to rewrite the tax code, putting them on the brink of a historic victory in Congress that’s sure to reverberate into next year’s elections. The legislation would cut both business and individual taxes as part of the biggest tax revamp in 30 years. It is poised to be carved into law next week when Congress sends it to President Donald Trump for his signature. … The agreement caps a remarkable legislative stretch in Congress.” (“Historic Tax Reform Vote Lined Up With GOP Bill Finalized,” Politico, 12/16/2017)

• “Approval of the tax bill seems certain, with House passage assured and two of the few potential Senate GOP opponents lining up Friday behind the measure: Marco Rubio of Florida and Tennessee's Bob Corker. That means a White House signing ceremony, probably by Christmas.” (“For GOP, Tax Bill's Most Visible Win May Be Averting Failure,” AP, 12/17/2017)

“Rewriting the tax code was the kind of herculean lift many doubted Congress could pull off… massive victory…” (“With Their Tax Bill, Republicans Prepare For A Long-Awaited Win,” CNN, 12/28/2017)

SEN. HATCH: We Are ‘On Track To Deliver A Comprehensive Tax Overhaul To The American People By Year’s End’

SEN. MITCH McCONNELL (R-KY): “For too long, America has struggled to compete in an increasingly competitive world. For years, jobs and businesses have left our country. Meanwhile, middle-class families struggled to get by. For years, our nation suffered under an economy that failed them with lack luster economic growth and under a system that rewarded the few at the expense of the many. That’s changing with this legislation. … This legislation will bring real relief to the middle class by taking money out of Washington’s pocket and putting it into theirs. It means a tax cut of more than $2,000 for a family of four earning $73,000. That’s real money in communities across Kentucky – from Paducah to Pikeville. And only those who don’t know the struggles of hardworking American families could conclude otherwise. Next week, the Senate will get this bill done so we can ensure the American people get the gift of real, meaningful tax relief this holiday season.” (Sen. McConnell, Press Release, 12/15/2017)

SEN. ORRIN HATCH (R-UT), Senate Finance Committee Chairman: “Historic achievements are challenging and reforming the tax code is no different. From the outset, Republicans in Congress sought to develop a comprehensive, pro-growth tax reform bill that will grow the economy, jumpstart job creation, and increase take-home pay for hardworking American families. … Today marks a critical milestone in this endeavor and keeps us on track to deliver a comprehensive tax overhaul to the American people by year’s end.” (Sen. Hatch, Press Release, 12/15/2017)

SEN. MIKE ENZI (R-WY), Senate Budget Committee Chairman: “After years of tax reform debate and months of negotiating, Congress is closer than ever to passing meaningful tax reform that will let folks in Wyoming and across the country keep more of their hard-earned money… That is what tax reform should be about — giving a helping hand to those individuals and families who might be struggling to move up the economic ladder. Our bill would help grow the economy, encourage job creation at home and, in turn, drive up wages. This is legislation designed to help people at every level.” (Sen. Enzi, Press Conference, 12/15/2017)

SEN. LISA MURKOWSKI (R-AK), Energy & Natural Resources Committee Chairman: “I’m grateful to my fellow conferees for working incredibly hard to reconcile our differences on tax reform and reach an agreement that reduces rates, lets hard-working Americans keep more of their own money, and makes our nation’s businesses more competitive… I also thank all of the conferees for recognizing the significant opportunity within our energy title and agreeing to open the non-wilderness 1002 Area. If we can successfully pass this legislation, the ultimate result will be more domestic jobs, larger paychecks, and greater energy security—and that is exactly what Alaska and our country need right now.” (Sen. Murkowski, Press Release, 12/16/2017)

SEN. JOHN CORNYN (R-TX): “This is good news for the American people. We're going to get the economy roaring back again, and improve pay, and increase jobs, and make America more competitive in the global economy, as well as simplifying the tax code and giving everybody in every tax bracket a tax cut. So this is good news any way you cut it.” (ABC’s “This Week,” 12/17/2017)

SEN. JOHN THUNE (R-SD): “Members of the House and Senate came together to finalize the details of a pro-growth tax reform bill that will provide Americans with more jobs, fairer taxes, and bigger paychecks. By reducing individual tax rates, doubling the standard deduction, and increasing the child tax credit, our bill will ensure Americans are able to keep more of their hard-earned money. And by lowering taxes on job creators, our bill will foster an economic environment that will give Americans access to more jobs, higher wages, and better opportunities. Our final package delivers on the promise we made to provide real relief to hardworking Americans.” (Sen. Thune, Press Release, 12/15/2017)

SEN. TIM SCOTT (R-SC): “It is a good day for the American people – my colleagues and I have put together a package that will ultimately deliver much-needed tax relief to our middle class families and boost our nation’s economy.  This is our chance to say to those who haven’t seen a paycheck increase in decades – we hear you, and we see you.  With this bill, we are helping single moms, like mine, by bolstering the Child Tax Credit and allowing more hardworking, everyday Americans to keep more of their hard-earned money.” (Sen. Scott, Press Release, 12/15/2017)

SEN. ROB PORTMAN (R-OH): “I fought alongside my colleagues in the Senate to preserve key tax incentives for undergraduate and graduate students in the final tax reform legislation. ...  I’m also pleased that the final bill includes my Stop Taxing Death and Disability Act, which will eliminate a tax penalty levied on student loans forgiven for families after the death of their child and Americans who develop permanent disabilities. I am pleased to continue my support for this important legislation that will not only help middle-class families, but also assist undergraduate and graduate students as they work finish their education and enter the workforce.” (Sen. Portman, Press Release, 12/15/2017)

SEN. PAT TOOMEY (R-PA): “I am elated that my colleagues and I have reached an agreement on a tax bill because it puts us one step closer to delivering both direct tax relief and a better economy to all Pennsylvanians. In just a few weeks, the vast majority of my constituents will get a pay raise because less of their hard-earned money will be going to Uncle Sam. Workers and employers will see a surge of new investment as this agreement takes the industrialized world's worst business tax code and makes it one of the best. At the beginning of this process, I promised that I would work hard in support of pro-growth principles that deliver a brighter economic future for Pennsylvanians and all Americans. I am thrilled that the conference bill achieves that goal.” (Sen. Toomey, Press Statement, 12/15/2017)