Jeff Denham: “Our previous Tax Code was ineffective and outdated. For too long, Americans' history of entrepreneurs and aspiring job…”

“Our previous Tax Code was ineffective and outdated. For too long, Americans' history of entrepreneurs and aspiring job creators has been in jeopardy. The United States now ranks 12th worldwide in business openings. For the first time in 35 years, American business closures outnumbered business openings--the first time in 35 years. That means jobs were vanishing faster than they were being created. For decades, our country's families have been burdened by countless hours of paperwork just putting taxes together, confusing tax rules that you needed an accountant or a lawyer to look at, and unsustainable rates that cut into everyday hardworking paychecks. The Code also did little to encourage U.S. companies to invest right here. Instead, it was only successful in creating new loopholes, exemptions, and disincentives that pushed more profits and jobs overseas. The Tax Code just wasn't working. That is why I was proud to have supported and coauthored H.R. 1, the Tax Cuts and Jobs Act, which tackled each of these separate issues in ways to support American families and U.S. job growth. In the midst of all the rhetoric around here, the partisanship, the Washington spin outside of this building, it is important that we don't lose sight of who actually won in this. It is the people in my district. People in places all across the country. It is Americans who won by changing the Tax Code. This bill will allow businesses to grow, to continue to give bonuses and raises.…”