Erik Paulsen: “The budget that is being considered here today sets in motion the process of the first major tax reform that we will…”

“The budget that is being considered here today sets in motion the process of the first major tax reform that we will have been able to see in 3 decades. We are on the cusp of a really exciting opportunity to give Americans what they deserve: a Tax Code that works for them, not against them. Now, on the House Ways and Means Committee, we spent many months meeting, holding hearings, discussing, working on almost a daily basis ways to craft a tax plan that is simpler and fairer for all Americans. The framework that was just rolled out last week takes that into account and lays out a plan that will lead to more jobs and, most importantly, bigger paychecks. You know, the economic ``recovery'' since the Great Recession hasn't worked for a lot of Americans. It certainly hasn't worked for a lot of Minnesotans that I represent. Economic growth has been anemic, and we remain uncompetitive in far too many areas. Many are living paycheck to paycheck, and either have or now are at risk of having a lower standard of living than their parents. Young people, like my daughter's generation, will go backwards if this country is not fundamentally more competitive economically. They feel like they just can't get ahead. Meanwhile, seniors, and baby boomers who will soon become seniors, are also at great risk. Their savings, as well as the government's ability to fulfill its commitment to Social Security and Medicare, could be undermined if we don't grow our economy at a higher rate.…”