On the recordApril 10, 2019
Mr. President, tax day is not anyone's favorite day, but thanks to the Tax Cuts and Jobs Act, millions of American families are facing a less painful tax bill this year. They are also seeing a lot of economic opportunity. When Republicans took office after President Trump's election, we were determined to make things better for American families. Under the Obama administration, the economy had stagnated, wages barely grew, job growth was weak, business investment growth was low. Republicans knew that if we wanted to make life better for families, we had to turn that around. American families can't thrive if the economy isn't thriving. You need a strong, growing economy to give Americans access to good wages, good jobs, and real opportunities. So we got right to work. We repealed burdensome regulations that were acting as a drag on economic growth, and we passed a comprehensive reform of our Nation's outdated Tax Code. Why the Tax Code? Well, the Tax Code has a huge effect on our economy. A small business owner facing a huge tax bill is unlikely to be able to expand her business or to hire a new employee. In fact, if her tax burden is heavy enough, she may not even be able to keep her business open. Similarly, a large business is going to find it pretty hard to create jobs or improve benefits for employees if it is struggling to stay competitive against foreign businesses that are paying much less in taxes.…
Source
govinfo.gov




