Political Quotes

“in 2017, Republicans reformed the Tax Code in a traditional sense. We broadened the tax base by reducing tax preferences for special interests in favor of lower overall tax rates. We also had several other goals, including maintaining the progressivity of the Tax Code, cutting taxes across all income groups-- predominantly for the middle class--and making our business tax system globally competitive. We were able to accomplish each of these goals in that 2017 tax bill. On average, taxpayers across all levels saw a tax cut. Middle-income taxpayers saw the largest percentage decrease in their tax bills. Also, we not only maintained the progressivity of our Tax Code, we made it more progressive. Moreover, the bill brought our business tax system and rates in line with the rest of the world. You just heard Senator Sasse speak brilliantly about that point. It put an end to the practice of corporations moving headquarters offshore to avoid paying the highest tax rate in the developed world. In the process, it incentivized American businesses to invest here at home and made America a more attractive place for foreign companies to locate. Now, prepandemic, these reforms resulted in the highest economic growth, the lowest unemployment, and the biggest wage gains that we had seen in decades. So when you talk about what the Democrats are proposing through reconciliation, it is kind of like they are ready to kill the goose that laid the golden egg. Now we are post-COVID.…”