Mr. Speaker, pursuant to House Resolution 619, I call up the bill (H.R. 1) to provide for reconciliation pursuant to title II of the concurrent resolution on the budget for fiscal year 2018, and ask for its immediate consideration. Mr.…
Mr. Speaker, pursuant to House Resolution 619, I call up the bill (H.R. 1) to provide for reconciliation pursuant to title II of the concurrent resolution on the budget for fiscal year 2018, and ask for its immediate consideration.
Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks and to include extraneous material on H.R. 1, the bill currently under consideration.
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, today the full House begins consideration of H.R. 1, the Tax Cuts and Jobs Act, historic tax reform legislation that will revitalize our economy and provide lasting tax relief to Americans of all walks of life.
Over 30 years have gone by since the last overhaul of our Nation's tax system. In that time, our Tax Code has become one of the most complicated, unfair, and uncompetitive in the world. Today it is impacting nearly every aspect of Americans' lives, and not for the better.
The overwhelming complexity of today's system forces American taxpayers to spend billions of hours and billions of dollars every year just filing their taxes. Trillions of dollars in carve-outs and loopholes give favoritism to Washington special interests while hardworking Americans get nothing but frustration.
With some of the highest tax rates in the world for our businesses, we are seeing good-paying American jobs and manufacturing plants move overseas one after the other.
Today, with the Tax Cuts and Jobs Act, we change all of this. With this bill, we have an opportunity to deliver the most transformational tax overhaul in a generation. But make no mistake, this bill is not about us. It is not about Congress. This bill is about--for the first time in decades--providing the American people with a simple and fair tax system, so much so that nine out of ten Americans will be able to file using a simple postcard-style system. It is about finally rewarding hard work, growing jobs and paychecks, and allowing Americans to keep more of their hard-earned money to use on whatever is important to them.
So if you are one of the millions of Americans who is sick of today's Tax Code, you are going to see a remarkable difference. You will see the standard deduction doubled, increasing to protect more of every paycheck from taxes. You will have a larger child tax credit, providing more support as you raise a family and care for your loved ones. More Americans will get help raising their kids.
You will have peace of mind when it comes to life's most important investments because this bill preserves tax benefits to help you afford your home, to pay your property taxes, and put your kids through college.
So if you are a typical middle-income family of four making $59,000 a year, you are going to get a tax cut of nearly $1,200. More than that, you are going to enjoy the benefits of a strong, healthy, and growing American economy. You are going to see more jobs on Main Street.
With this bill, our small businesses will finally have low tax rates and a fair Tax Code that works with them as they grow and create jobs. You are going to see our larger businesses--our iconic American brands and our major manufacturers--win throughout the world and create new, good-paying jobs right here at home because, with this bill, we are going to have one of the most modern and one of the most competitive Tax Codes on the planet. That includes lowering our corporate rate from 35 to 20 percent, which beats many of our international competitors.
Not only are you going to see jobs stop leaving the United States, you are going to see our Nation become a 21st
century magnet for job creation and business investment.
With the Tax Cuts and Jobs Act, the American people will see and help lead the way in launching a new era of Made in America innovation. In the end, the Tax Cuts and Jobs Act is a striking alternative to the broken Tax Code we have today. It represents a bold path forward that will allow us as a country to break out of the slow-growth status quo once and for all.
Mr. Speaker, the American people have waited years--decades--for a fair, simple, and competitive Tax Code. Right now, in this moment, we stand on the doorstep of delivering the most sweeping tax overhaul since President Reagan's reforms in 1986. Like President Reagan back then, President Trump is now putting his full support behind this effort.
Let's pass this historic bill and take another step forward in delivering bold, pro-growth, pro-family tax reform for Americans throughout this Nation.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I yield myself 10 seconds.
Mr. Speaker, I will note that, in the district of my good friend from Massachusetts, the average family of four making $87,000 will see a tax cut of $2,032.
Mr. Speaker, I yield 2 minutes to the gentleman from Illinois (Mr. Roskam), chairman of the Tax Policy Subcommittee and a leader in the tax reform effort.
Mr. Speaker, I yield 3 minutes to the gentleman from Washington (Mr. Reichert), chairman of the Trade Subcommittee and a champion for working families.
Mr. Speaker, I yield 3 minutes to the gentleman from
Nebraska (Mr. Smith), chairman of the Human Resources Subcommittee and a champion for agriculture.
Mr. Speaker, Massachusetts will gain 24,000 jobs; families will see a $3,000 increase in their paychecks.
Mr. Speaker, I yield 3 minutes to the gentleman from Minnesota (Mr. Paulsen), a key member of our committee and a leader in technology and employee stock options.
Mr. Speaker, I yield 2 minutes to the gentlewoman from Tennessee (Mrs. Black), the chair of the Budget Committee who cleared the path for this progrowth tax reform.
Mr. Speaker, I yield an additional 15 seconds to the gentlewoman.
Mr. Speaker, I yield 3 minutes to the gentleman from Pennsylvania (Mr. Meehan), one of the key members of our Tax Policy Subcommittee and a champion for working men and women.
Mr. Speaker, under tax reform, California will grow 111,000 new jobs, and paychecks will increase by nearly $3,000.
Mr. Speaker, I yield 3 minutes to the gentlewoman from South Dakota (Mrs. Noem), a champion of family-owned farms and businesses.
Mr. Speaker, the gentleman's constituents in Virginia's District 11, with average household earnings of $136,000, with two kids, will see a tax cut of $5,008.
Mr. Speaker, I yield 2 minutes to the gentleman from Kentucky (Mr. Barr).
Will the gentleman yield?
Mr. Speaker, I wish to thank the gentleman from Kentucky for his leadership here.
Mr. Speaker, we will work together for a mutually accepted solution to make sure we exempt work colleges to use their endowments to provide tuition-free education.
Mr. Speaker, I would note that the constituents in California's 13th District, a median family of four earning $107,000 will see a tax cut of $2,589.
Mr. Speaker, I yield 2 minutes to the gentleman from West Virginia (Mr. McKinley).
Will the gentleman yield?
Mr. Speaker, I thank Mr. McKinley for his passion about making sure our smaller communities can revitalize and grow and about the role of the historic preservation tax credit in doing that. I commit to working with him and continuing to work with him on this issue because I know the importance of it.
Mr. Speaker, because of the Tax Cuts and Jobs Act, in the Fifth District of Massachusetts, a median household of four earning $143,000 will see a tax cut of $5,208.
Mr. Speaker, I yield 3 minutes to the gentleman from New York (Mr. Reed), one of our key leaders on tax reform on the Ways and Means Committee.
Madam Speaker, I am proud the Tax Cuts and Jobs Act for that family of four in Ohio, in the Ninth District, a $64,000 household, will see a tax cut of $1,284.
Madam Speaker, I yield 1 minute to the gentleman from Ohio (Mr. Turner).
Madam Speaker, I inadvertently cut the gentleman short. I yield the gentleman an additional 2 minutes.
Will the gentleman yield?
Madam Speaker, I would like to thank Mr. Turner and Mr. Davis for raising this important issue. On the committee, Representatives Meehan and Lynn Jenkins led the discussion and share your sentiments.
I have a keen interest in this issue. I will work with you toward a positive solution on tuition assistance in conference with the Senate.
Madam Speaker, the Tax Cuts and Jobs Act for families of four in Vermont, making $89,000, will see a tax cut of $2,030.
Madam Speaker, I yield 3 minutes to the gentlewoman from Indiana (Mrs. Walorski), one of our key leaders championing for small business.
Madam Speaker, I also ask unanimous consent that the gentleman from Illinois (Mr. Roskam) be permitted to control the balance of my time.
Will the gentlewoman yield?
Madam Speaker, I thank both the gentlewoman and the gentleman for stepping forward and being such strong advocates for taxpayers in a State that taxes its families and businesses, I think, almost beyond belief.
Our goal in tax reform is to achieve tax relief for families and individuals across the country, regardless of where you live, and across all incomes, while, at the same time, unleashing the economic engine for American economic growth.
California, by the way, under tax reform, is the number one job creator under the new Tax Code.
So I agree with the gentleman and the gentlewoman. There are still some areas where we want to make and will make improvements in this bill. If they will work with us to continue to move this process forward, I am happy to commit to working with both of them to ensure we reach a positive outcome for their constituents and families as we reconcile our differences with the Senate.
Madam Speaker, I reserve the balance of my time.
Madam Speaker, I yield myself such time as I may consume.
Madam Speaker, Washington is just hilarious.
Lawmakers back home tell everyone they are for tax reform, until it comes actually time to do it. Everyone says they want a fairer, flatter, simpler Tax Code, as long as you keep every special interest provision in this big, fat, messed-up Tax Code.
Everyone says they want to give people back more of what they earned and get Main Street businesses going, as long as you don't change anything in the Tax Code. As long as the lobbyists win and the American people lose, they are willing to talk about it.
House Republicans are actually acting on tax reform for the first time in 31 years.
In Washington, they sneer at that family of four back home making $59,000 a year. That is the average household. Under our tax reform, they pay $1,182 less that they keep in their pocket. Washington makes fun of that. That is real money for families.
A firefighter making $48,000 a year keeps over $1,300. That single mom working hard every day making $30,000 a year has a $700 larger refund than she gets today.
That Main Street startup business working I don't know how many hours, making $62,000 a year--that was my Chamber of Commerce member right there--in that startup business, they keep $3,007 more than they do today. Washington just laughs at that. But it is real money for real people.
In my district, a family of four making $90,000--two teachers--keeps $2,176 more every year of their life from this.
My friends on the Democrat side now worry about the debt. I remember the first year Democrats took control of the House, they doubled the deficit. The second year, they tripled it. The third year, it went to $1 trillion. It stayed that way until the American people gave the House back to Republicans.
They love spending money and raising the deficit when they let Washington grow, but when it is time to grow jobs and paychecks, all of a sudden they are worried about the debt.
The truth of the matter is we want to keep this debt and deficits going. Don't change anything. Keep this slow-growth economy, keep spending, and I guarantee you debts and deficits will grow.
We are talking about growing jobs, growing paychecks, and getting back to a balanced budget by getting this economy moving in a big way.
At the end of the day, it is time to end the status quo in Washington, D.C. Americans deserve a fair, flatter Tax Code, one that closes loopholes and ends special interest deductions so that Americans can keep more of what they earn, so their paychecks can raise and our businesses can compete and win anywhere in the world, especially here at home America.
It is time our jobs start coming back to America, rather than watching them go: our jobs, research, manufacturing patents, our headquarters. That era is over, and it starts with H.R. 1, the Tax Cuts and Jobs Act.
We will continue this debate tomorrow, Madam Speaker, so we will continue to deliver tax reform and tax cuts for the American people.
Madam Speaker, I reserve the balance of my time.