Erik Paulsen: “For the first time in a generation, middle- income and hardworking Americans are closer to a Tax Code that works for…”

“For the first time in a generation, middle- income and hardworking Americans are closer to a Tax Code that works for them rather than against them. It has been 31 long years since we last reformed our broken tax system, and, in that time, our Tax Code has become one of the most complicated, unfair, and uncompetitive in the world. It has led to a stagnant economy and sluggish growth. American businesses of all sizes have some of the highest tax rates in the world, sending our jobs, our manufacturing, our research, and our headquarters overseas. And you know, the economic recovery hasn't been all that great since the Great Recession--not that great for a lot of Americans. Half the population is living paycheck to paycheck. Many either have or 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. And then seniors and those baby boomers preparing for retirement, who have a lifetime of savings, are now at risk without a growing economy. The reforms in this bill today will help real people with tax cuts aimed to help middle-income families that want to save for the future and improve their own standard of living. The bill focuses on helping small businesses, Main Street Minnesota businesses with a simpler, clearer, and fairer Tax Code that is critical for job creation.…”