Tax Reform ‘On The Cusp Of A Historic Moment’

REP. BRADY: ‘We’re Coming Together As A Conference Committee With One Singular Mission In Mind – Finalizing The Tax Cuts And Jobs Act, And Delivering Transformational Tax Reform’

PRESIDENT TRUMP: “…I want to thank the incredible members of the House and the Senate, who have been working so hard. We're very, very close to a historic legislative victory, the likes of which rarely has this country seen. I think I can say, Kevin and Orrin, that we're getting very close.” (President Trump, Remarks At Lunch, 12/13/2017)

• PRESIDENT TRUMP: “This bill is vital to the American people for many reasons. First of all, it's going to have a tax cut, the likes of which we haven't seen for, not only business but for the working families of our country. It's really a tax cut based on jobs and also very good for companies, which also means jobs. The typical family of four earning $75,000 will see an income tax cut of $2,000. So that's $2,000 in their pocket, additional to spend on whatever they want to spend, or they could save the money also.” (President Trump, Remarks At Lunch, 12/13/2017)

SENATE MAJORITY LEADER MITCH McCONNELL (R-KY): “The conferees have been working diligently to produce a report that both chambers can vote on soon. Once they complete their work, Congress will be able to fulfill our commitment to the American people and deliver real tax reform…. Passing pro-family and pro-growth tax reform is the single most important action we can take right now to grow our economy and help the middle class get ahead. Families deserve a tax system that works for them. And along with President Trump and his team, this Republican-led Congress is working to deliver. This is our chance to set a new course … For the Americans who were left behind by the Obama economy, this is our opportunity to provide relief. We want to make your taxes lower, simpler, and fairer. We want to bring investment and jobs back home and keep them here. The bottom line is this: we want to take more money out of Washington’s pocket and put more money into the pockets of the middle class. I’m confident the conference committee will finalize a bill that does just that.” (Sen. McConnell, Press Release, 12/13/2017)

SPEAKER OF THE HOUSE PAUL RYAN: “We’re on track for bringing it through the system next week to get it done by Christmas, which was our goal and pledge all along so that we start the New Year, with a new tax system, with a big middle class tax cut and a tax cut for businesses to make us globally competitive to get faster economic growth and more jobs.” (Speaker Ryan, Press Release, 12/13/2017)

SEN. ORRIN HATCH (R-UT), Finance Committee Chairman: “We are on the cusp of a historic moment. Right now, we are closer than we’ve been in more than three decades to overhauling our nation’s outdated and burdensome tax system…. I took over as the lead Republican on the Senate Finance Committee nearly seven years ago.  And, since that time, my top priority … has been tax reform…. All of those years and all of that work has brought us to where we are today, with both the House and Senate passing major tax reform bills, giving this conference an opportunity to come together to reconcile any remaining differences in order to produce legislation that can pass in both chambers.” (Senate Finance Committee, Press Release, 12/13/2017)

• SEN. HATCH: “We are very close to producing legislation that will lower individual tax rates across the board and give the largest portion of tax cuts to middle-class families. We are very close to giving working, middle-class families additional help in the form of larger paychecks, an expanded child tax credit, and a simplified system where more than nine in ten taxpayers will be able to entirely avoid the complex and time-consuming process of itemizing their deductions. And, we are very close to achieving the bipartisan goal of reducing our corporate tax rate and fixing our international tax system so that we can grow our economy, keep our businesses competitive in the global marketplace, and keep investment, economic activity, and jobs from moving offshore.” (Senate Finance Committee, Press Release, 12/13/2017)

REP. KEVIN BRADY (R-TX), Ways & Means Committee Chairman: “Today, we’re coming together as a Conference Committee with one singular mission in mind – finalizing the Tax Cuts and Jobs Act, and delivering transformational tax reform for the first time in three decades.” (Rep. Brady, Press Release, 12/13/2017)

• REP. BRADY: “…we're really working on, I think, on a comprehensive agreement. We're making -- I'll tell you this. We're making good progress. I like the direction we're going. More importantly, I like the timetable that we're going to hit, which is a conference committee report at the end of the week, after we meet tomorrow in a public conference setting.” (Fox News, 12/12/2017)