Huge Steps Forward On Tax Reform

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 to help middle-income families that are struggling. … That’s what this is. This is one of the most historic and the biggest things that we will ever do. And the reason is because this is one of the biggest things we can do to improve people's lives, to revitalize that beautiful, American idea, to spread liberty and freedom. This is something that's going to refresh our confidence in ourselves, in our confidence in each other.” (Speaker Ryan, Remarks, 11/16/2017)

“House passes sweeping tax bill in huge victory for GOP: The House on Thursday passed legislation to overhaul the tax code, moving Republicans one step closer to achieving the top item on their legislative agenda.” (“House Passes Sweeping Tax Bill In Huge Victory For GOP,” The Hill, 11/16/2017)

• “The 227-205 House vote was a victory for Speaker Paul Ryan (R., Wis.) and President Donald Trump, who rallied Republicans in the Capitol before the vote.” (“House Passes GOP Bill To Overhaul Tax System,” The Wall Street Journal, 11/16/2017)

“The House of Representatives passed a bill that would usher in the most far-reaching overhaul of the U.S. tax system in 31 years, a plan that would reduce the corporate tax rate to its lowest point since 1939 and cut individual taxes for most households in 2018.” (“House Passes GOP Bill To Overhaul Tax System,” The Wall Street Journal, 11/16/2017)

“The vote Thursday represents a key milestone in President Donald Trump’s quest to cut taxes for businesses and individuals…” (“House Passes Tax Bill In First Step Toward Historic Overhaul,” Bloomberg, 11/16/2017)

• “With 227 Republican votes, the House passed the most sweeping tax overhaul in three decades on Thursday, taking a significant leap forward as lawmakers seek to enact $1.5 trillion in tax cuts for businesses and individuals and deliver the first major legislative achievement of President Trump’s tenure.” (“House Passes Tax Bill, As Does Senate Panel,” The New York Times, 11/16/2017)

• “House Republicans passed a $5.5 trillion tax bill Thursday, in a major step toward rewriting the nation’s tax code...” (“House Passes Massive GOP Tax Cuts,” Politico, 11/16/2017)

‘Hours After The House Republicans Passed A Tax Bill Thursday, The Senate Finance Committee Approved Their Tax Bill’

SEN. ORRIN HATCH (R-UT): “After months of hard work and nearly a week of robust deliberation on the merits of this legislation, the Senate Finance Committee acted tonight to advance the most comprehensive tax reform bill in a generation. This is a historic moment and one we should all be proud of.” (Sen. Hatch, Press Release, 11/16/2017)

“The focus now shifts to the Senate, where Republicans are quickly moving ahead with their own tax overhaul… After four days of debate, members of the Senate Finance Committee voted 14 to 12 along party lines to approve their version of the tax package late Thursday night. The approval helps clear the way for the full Senate to consider the bill after Thanksgiving…” (“House Passes Tax Bill, As Does Senate Panel,” The New York Times, 11/16/2017)

“Hours after the House Republicans passed a tax bill Thursday, the Senate Finance Committee approved their tax bill, pushing it closer to a full vote on the Senate floor.” (“Senate Panel Approves Republican Tax Plan,” CBS News, 11/16/2017)

“Republicans just took another huge step forward on their tax-cut plan… The Senate Finance Committee moved the massive GOP tax plan forward another step Thursday by reporting the Republican bill to the full chamber.” (“Republicans Just Took Another Huge Step Forward On Their Tax-Cut Plan,” Business Insider, 11/17/2017