On the recordNovember 28, 2017
Mr. President, I rise to discuss the tax relief bill, which the Senate is working very hard to try to pass. I brought some charts with me to show the impact this bill will have in terms of reducing the tax burden for hard-working American taxpayers and also helping to grow our economy. It is important to understand this is not just about making sure American taxpayers can keep more of their hard-earned wages and income but also this is about making sure we have a growing economy, that we have more jobs, and that we have rising wages and rising income for American workers. Here are just some of the statistics that show that. These statistics are according to the nonpartisan Tax Foundation and also the Council of Economic Advisers. What you see from this first chart is, this tax relief package is about real economic growth, not just making sure our taxpayers get a tax cut but about growing our economy. This top number, which comes from the Council of Economic Advisers, is $4,000 that workers, on average, would receive from the economic growth created by the combination of reducing the regulatory burden, which is something we have been working on all year with the administration--reducing that regulatory burden--and combining that then with tax relief to generate more economic growth. As I said, according to the Council of Economic Advisers and the nonpartisan Tax Foundation, it also generates almost 4 percent in terms of a larger economy.…





