Majority Leader McConnell Issues Remarks on Need for Tax Reform

WASHINGTON, Nov. 29 -- The office of Senate Majority Leader Mitch McConnell, R-Kentucky, issued the following floor remarks regarding the need for tax reform:

"During the last decade, hardworking American families have tried to get ahead. But they too often faced insurmountable barriers. The economy was sluggish. Paychecks were stagnant. And jobs and opportunities seemed out of reach. The people we represent deserve better. And we must deliver. It's time to take our foot off the brake and get our economy going again and growing again. We can do that through tax reform.

"Every American who has ever interacted with the IRS already knows that our tax code is broken. Rates are too high. The deductions and loopholes are too complex to understand. And it's too easy for well-connected elites to take advantage. Passing tax reform is the single most important thing we can do right now to shift the economy into high gear and deliver much-needed relief to American families.

"The Senate Finance Committee has developed a bill that is the result of years of work, dozens of hearings, and a full committee markup. I would like to commend Chairman Hatch once again for his leadership of the Finance Committee, and thank him for producing legislation to unleash the potential of our economy, to create jobs, and to keep them here.

"Throughout this process, we have kept middle-class families at the center of our efforts. We want to make their taxes lower, simpler, and fairer. That's why our plan will give the typical family of four with a median income a tax cut close to $2,200. A single parent raising his or her child on a modest income could also see a tax cut of nearly $1,400. These are real savings that can help families plan for their future and get ahead.

"The Finance Committee's tax reform proposal also provides substantial relief to small businesses. We want to make it easier for them to grow, invest, and hire. The bill will also remove incentives for corporations to ship jobs and investments overseas. And finally, our tax reform proposal delivers relief to low- and middle-income Americans by repealing Obamacare's individual mandate tax. For too long, families have suffered under an unpopular tax from an unworkable law. Repealing this Obamacare tax will help those who need it most.

"Yesterday, the Senate Budget Committee under Chairman Enzi's leadership reported out a bill including our proposal to reform the tax code. I would like to thank Chairman Enzi and the members of the Budget Committee for their outstanding work to get us to this important moment. They have been strong advocates for tax reform, and I appreciate their efforts.

"The committee's report also included Chairman Murkowski's plan to further develop Alaska's oil and gas potential in an environmentally responsible way. Her legislation, which has the support of her Alaskan colleague Senator Sullivan, was designed to create good jobs, provide new sources of energy, and strengthen our national security. Now, they will both advance to the Senate floor.

"Today, the Senate will take the important next step toward fixing the tax code and helping middle-class families keep more of their hard-earned money. Members will vote to begin debate on this once-in-a-generation opportunity to reform our tax code so it works for the middle class. I encourage any member who thinks that we need to fix the problems of our outdated tax code to vote to proceed to the legislation.

"Anyone who thinks that rates are too high or loopholes are too prominent should vote to begin debate. And to members who have ideas about how to make the bill better, I urge them to vote for the motion to proceed and offer their amendments. I believe my mandate from the people of Kentucky is to vote yes. And I certainly intend to do so.

"The bottom line is this: we must vote to begin debate. Because once we do, we will be one step closer to taking more money out of Washington's pocket and putting more money into the pockets of the hardworking men and women we represent. This is our chance to deliver relief for the people who have sent us here. And the way that we can do that is by voting to proceed to the bill.

"Every member will have the opportunity later today to answer the calls of American families by voting to begin debate. I will vote yes on the motion to proceed, and I urge all of my colleagues to do the same."