Conference Report On H.R. 1, Tax Cuts And Jobs Act
Mr. Speaker, I appreciate the gentleman yielding time to me. First, I want to start off by thanking all of the members and the staff of the Ways and Means Committee for all of their hard work in putting this bill together. I want to thank…
Mr. Speaker, I appreciate the gentleman yielding time to me.
First, I want to start off by thanking all of the members and the staff of the Ways and Means Committee for all of their hard work in putting this bill together. I want to thank them for this.
I want to personally thank one of my predecessors from the Ways and Means Committee, who helped lay the foundation to get us where we are today, and that is Dave Camp. Dave Camp did a lot to help us get to where we are.
I want to, most of all, commend and express my profound admiration to the architect of this measure, Chairman Kevin Brady.
His endless patience and his persistence and his great demeanor have seen this through and gotten us to where we are today.
My colleagues, this is a day I have been looking forward to for a long time. We are about to achieve some really big things, things that the cynics have scoffed at for years, decades even; ideas that have been worked on for so long to help hardworking Americans who have been left behind for too long.
Today--today--we are giving the people of this country their money back. This is their money, after all.
Announcement by the Speaker Pro Tempore
Mr. Speaker, I would simply like to remind my colleagues and the Speaker that my minute can last for as long as I want it to last.
Mr. Speaker, as I was saying, today we are giving the people their money back. The bottom line here is the typical family making the median income in America will get a $2,059 tax cut next year alone. What this is is real relief for families who are living paycheck to paycheck, struggling to make ends meet.
They hear about the economy getting better. They turn on the TV, and they see the stock market going up, but now we need to make sure that these people in our communities and our country, who are struggling, see their own personal economy getting better, and that is what this is all about.
We have got to understand that times are tough for a lot of people in this country right now. Today, this is about how much better things can be. This is about more jobs, fair taxes. It is about bigger paychecks. It is about faster growth and upward mobility. It is about a strong economy that makes all of us stronger and healthier. Those are the effects, those are the benefits, of tax reform.
Here is the heart of it, and here is why this is so vital that we do this. Here is what it speaks to and what I truly believe is a generational defining moment for this Nation.
Our Tax Code is so broken that it undermines the very thing that makes our Nation exceptional in the first place. It punishes hard work. It discourages our entrepreneurial spirit. It dims freedom and free enterprise. It limits the potential of our own people.
When Americans see good jobs going away, when Americans wake up and they see the companies that they grew up with in their communities going away, they wonder if we have lost something bigger.
The mission that drives us here today is to restore this beautiful American idea. What is that idea? That the condition of your birth does not determine the outcome of your life. You can work hard, play by the rules, get ahead, and make a better life for yourselves and an even better one for your kids.
It is that sense of possibility. We want people to be free to strive to make the most of their lives. We want a country with the resilience to endure and tackle all of its challenges.
Mr. Speaker, economic growth and job creation will not solve all of our problems, but it will help make all of our problems much easier to solve. This is the direction that we are choosing here today because we know exactly where the status quo leads us.
For years, the powers that be have blocked and stonewalled reform under the umbrella of an arrogant, condescending, and paternalistic ideology--an ideology that seeks to limit mobility, to limit aspirations, to accept less in our lives. It is a view of the world that sees life and the economy as a zero-sum game. Your gain comes at my loss; therefore, we can't do it.
Look at where this got us: the worst recovery since World War II, flat wages, and an economy just limping along. Stagnation is a breeding ground for a class-based society where elites predetermine the outcome of our lives. That is not the American idea.
They will tell you this: Just hand over more freedom to the unelected bureaucrats, and they will figure it out, they know more, we will all just be okay. Hand over more of your hard-earned dollars to the IRS, and it will all be okay.
There is your scam right there. We know, given the opportunity, there are no limits to what our people, our fellow citizens, our brothers and sisters can
do. Yet for years now, this Tax Code has been skewed to the well connected, full of special interest carve-outs and loopholes.
Meanwhile, the hardworking family in America has got to jump through all the hoops that the IRS can muster. Reform means we bring rates down at every level. We clear out these loopholes so that people can just keep more of what they earn in the first place, because it is their money in the first place. No special favors, just basic fairness.
Reform means simplification, too. Nearly 9 out of 10 Americans will still be able to do their taxes on the form the size of a postcard. That is amazing.
And given the opportunity, there are no limits to what our workers and our entrepreneurs can do.
Yet while the world has changed, while the world has become more competitive, closer, smaller, our Tax Code has not. Instead of leading, we have been falling behind to the point where we now are the worst in the industrialized world at how we tax our businesses.
We tax our businesses a whole lot more than our foreign competitors tax theirs. They win; we lose. That is not fair.
It is basically open season for our competitors to come in and take our jobs overseas under the current Tax Code. Reform means we go from the back of the pack to the front of the pack.
Instead of the slow growth that we have been slogging through for years, we want to get back to real sustained economic growth. We want to build an opportunity economy where there is more demand for higher paying jobs. That is the whole purpose of all of this. Make sure that people can grow up and reach their potential. Make sure that the jobs are there to give people the careers they want so they can reach their potential, so their families can reach their potential. That is why we are doing this.
This is, without question, the single most important thing we can do to, once again, make America the best place to do business.
There is more than that in this bill. With this bill, were are finally restoring the freedom to make our own healthcare choices. By repealing the individual mandate at the heart of ObamaCare, we are giving back the freedom and the flexibility to buy the healthcare that is right for you and your family.
Finally, we are doing something truly to put America in the lead. We are doing something historic to develop our own energy resources. Some people have been working here since I was in the second grade on this project. After decades and decades in this Chamber, we are opening up a small, nonwilderness area of the Alaska National Wildlife Refuge for responsible development. It is the most ambitious step we have taken in years to secure our own energy future.
This is one of those times to just take a step back. Let's just take a minute, collect ourselves, and step away from the noise.
We talk a lot in this job about turning points. There is no doubt that we are at one of those turning points right now. This one will determine the kind of country we are going to have this century.
But too often, we have seen before how doubt creeps in, how the tyranny of short-term thinking takes over, and history--history--fails to turn.
There is, after all, a reason that this has not been done in 31 years. This really is a generational defining moment. And let's let this generational defining moment be defined by optimism, not by fear; by the rising aspirations of our people and not the doom and gloom of managed decline that we have become too familiar with.
This is our chance. This is our moment. Let's turn at this turning point. Let's reclaim the principles that have guided us for generations. Let's recapture our destiny for generations to come so this beautiful story of the American idea is repeated and repeated and passed on to the next generation, a nation more united, more confident, more prosperous, and, Mr. Speaker, more free. Pass this bill.