‘Historic Tax Relief’

A ‘Major Victory’

“The Senate passed the most sweeping tax rewrite in decades early Saturday, with Republicans lining up to approve an overhaul that will touch almost every corner of the United States economy, affecting families, small business owners and multinational corporations …” (“Senate Republicans Pass Sweeping Tax Bill,” The New York Times, 12/01/2017)

“Republicans muscled the largest tax overhaul in 30 years through the Senate early Saturday, taking a big step toward giving President Donald Trump his first major legislative triumph …” (“Tax Bill Clears Senate In Big Boost For Trump, GOP,” The Associated Press, 12/02/2017)

“[T]he Republican-controlled US Senate …passed a historic overhaul of the US tax code, clearing what has long been considered the largest and most byzantine hurdle in an effort that hasn't been completed in more than 31 years.” (“How All But One Republican Senator Found A Way To Pass Tax Reform,” CNN, 12/02/2017)

“…Republicans came together in near unanimity behind the landmark legislation.” (“Senate GOP Tax Bill Passes In Major Victory For Trump, Republicans,” The Washington Post, 12/02/2017)

‘Intended To Immediately Cut Taxes For … Middle-Class Families’

“Republicans have pitched the bill as a middle-class tax cut and the overhaul is intended to immediately cut taxes for about 70 percent of middle-class families.” (“Senate Republicans Pass Sweeping Tax Bill,” The New York Times, 12/01/2017)

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 accelerate if the Tax Cuts and Jobs Act passes, leading to more jobs, higher wages, and a better standard of living for the American people.” (Op-Ed, “An Open Letter To Congress Signed By 137 Economists Supporting GOP Tax Reform Bill,” CNBC, 11/29/2017)

• “The enactment of a comprehensive overhaul – complete with a lower corporate tax rate – will ignite our economy with levels of growth not seen in generations. A twenty percent statutory rate on a permanent basis would, per the Council of Economic Advisers, help produce a GDP boost ‘by between 3 and 5 percent.’ … We firmly believe that a competitive corporate rate is the key to an economic engine driven by greater investment, capital stock, business formation, and productivity – all of which will yield more jobs and higher wages.” (Op-Ed, “An Open Letter To Congress Signed By 137 Economists Supporting GOP Tax Reform Bill,” CNBC, 11/29/2017)

Repealing The Individual Mandate Tax: ‘A Tax Cut For Low-Income Americans’

“Senate Republicans have approved the repeal of ObamaCare’s individual mandate as part of their tax-cut bill, a major step toward ending an unpopular part of the health-care law.” (“Senate GOP Repeals Obamacare Mandate,” The Hill, 12/02/2017)

• “The sweeping tax overhaul that passed the U.S. Senate on Saturday contains the Republicans’ biggest blow yet to former President Barack Obama’s healthcare law, repealing the requirement that all Americans obtain health insurance.” (“U.S. Senate Tax Bill Accomplishes Major Obamacare Repeal Goal,” Reuters, 12/02/2017)

SEN. McCONNELL: “[T]he Senate also voted to deliver relief to low- and middle-income Americans by repealing ObamaCare’s individual mandate tax. For too long, families have suffered under this unpopular and unfair tax imposed under an unworkable law.” (Sen. McConnell, Op-Ed, “Tax Reform: What’s in It for You,” The Wall Street Journal, 12/03/2017)

THE WASHINGTON POST: “Republicans are right: Slashing Obamacare’s requirement to buy health insurance amounts to a tax cut for low-income Americans….” (“The Health 202: Republicans Are Right. The Individual Mandate Is A Tax On The Poor.,” The Washington Post, 11/20/2017)

• “The thing is, Republicans are right, if you listen to the Supreme Court and the IRS. The high court ruled back in 2012 that the penalty for being uninsured is the same thing as a tax…. And the penalty is paid chiefly by lower- and middle-class Americans, according to the IRS. More than half the total penalty payments – 58 percent – come from people earning less than $50,000. Eighty-six percent is from people earning less than $100,000.” (“The Health 202: Republicans Are Right. The Individual Mandate Is A Tax On The Poor.,” The Washington Post, 11/20/2017)

Responsible Energy Exploration In Alaska: ‘Fulfilling A Long-Time GOP Goal’

“Senate Republicans passed legislation early Saturday allowing oil and gas drilling in the Arctic National Wildlife Refuge as part of a tax reform package, moving closer to fulfilling a long-time GOP goal. The passage of the bill marked a significant achievement for Sen. Lisa Murkowski, R-Alaska, the chairwoman of the Senate Energy and Natural Resources Committee, who has introduced legislation to open a portion of the Alaskan refuge to drilling every term she has served in the chamber, only to be blocked by Democrats.” (“Senate Republicans Approve Plan To Allow Drilling In Arctic Refuge With Tax Legislation,” Washington Examiner, 12/02/2017)

SEN. LISA MURKOWSKI (R-AK): “The bottom line is that this is a proposal that does work. It does work for Alaska families…. We are going to create thousands of jobs, not just in Alaska but really all over the country. We will reduce our foreign oil dependence…. We are also taking a major step to make energy more affordable…. Making sure that we are being environmentally conscious at every turn is what we do and is a priority for us in Alaska…. [W]e will do it right. We will take care of our lands. We will take care of our wildlife. We will take care of our people.” (Sen. Murkowski, Congressional Record, S.7538-40, 11/30/2017)