On the recordOctober 10, 2018
Mr. President, 2 years ago, when Republicans took control of the White House as well as of Congress, we promised the American people that growing the economy was going to be our No. 1 priority, and we got right to work. Under the Obama administration, American workers and businesses faced a lot of obstacles, including burdensome regulations and an outdated Tax Code that acted as a drag on economic growth, so we immediately focused on removing burdensome regulations. Then we focused on developing a historic, comprehensive reform of our Tax Code, which was signed into law last December. Now, the Tax Code isn't necessarily the first thing people think of when they think of economic growth, but the Tax Code has a huge impact on our economy. It helps to determine how much money individuals and families have to spend and save. It helps to determine whether a small business can expand and hire. A small business owner who faces a huge tax bill is highly unlikely to be able to expand her business or hire a new employee. The Tax Code helps to determine whether large businesses hire, grow, and invest in the United States. 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 pay much less in taxes. A large business is also unlikely to keep jobs and investment in the United States if the Tax Code makes it vastly more expensive to hire American workers.…
Source
govinfo.gov




