Political Quotes

“last week, Senator Cardin and I introduced our S Corporation Modernization Act. That brings the total of tax reform bills I have introduced so far this year to six. Obviously, 2017 was a banner year for tax reform. In December of 2017, we passed the Tax Cuts and Jobs Act, a historic, comprehensive reform of our Tax Code that put more money in American families' pockets and helped spur growth at American businesses. The Tax Cuts and Jobs Act has been a great success for our economy and for hard-working Americans, but there are still things we can do to strengthen our Tax Code even further. As I mentioned, last week, Senator Cardin and I introduced our S Corporation Modernization Act. S corporations are the most common formal business structure in the United States. There are nearly 5 million of these businesses throughout the United States, including large numbers in rural America. Despite the popularity of S corporations, however, there have been few S corporation-related changes to the Tax Code since this business structure was created. There are things we can do to make it easier for these businesses to operate and raise capital. That is why Senator Cardin and I developed the S Corporation Modernization Act. Our legislation makes pro-growth reforms that will make it easier for these businesses to grow and create new jobs and opportunities in their communities.…”