On the recordDecember 19, 2017
I am proud to be here today to support this much-needed overhaul of our broken Tax Code. The status quo we have seen over the past decade is unacceptable, and this bill will finally provide much-needed relief to working families and put our economy back on the path to stable and sustained growth. This bill restores the global competitiveness of American businesses by lowering the corporate rate and moving toward a territorial system. Further, H.R. 1 provides our small businesses the lowest tax rate in a generation, ensuring that these job creators are able to reinvest more of their hard-earned money in our future. Instead of handing over more of their money to the government, small businesses can hire that extra employee, open that second location, or buy that new piece of machinery or lab equipment that they need to take them to the next level by putting in place a Tax Code that encourages growth and rewards investment. It is projected there will be over 10,000 new full-time jobs created in my State of North Carolina. I am proud to support this transformational bill that will bolster growth and investment here at home, leveling the playing field for U.S. businesses. Further, I look forward to continuing to work with my colleagues to ensure that Americans across the globe have a similar level playing field through a system of residence-based taxation.
