The Budget and Tax Reform

Floor Speech

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Mr. McCONNELL. Mr. President, on an entirely different matter, last week the chairman of the Budget Committee unveiled a comprehensive budget for fiscal year 2018 that the committee will consider this week.

This comprehensive budget resolution provides a path to balance by restraining Washington's spending, by reducing the tax burden, and by putting our country on a trajectory for better economic growth. I look forward to considering it on the floor after the committee finishes its work.

Not only will this budget put our country on a better fiscal track, with reduced spending, it will also provide Congress with legislative authority to enact much needed tax reform for hard-working American families.

The tax framework released by the administration and Congress's tax- writing committees is a template that will guide these committees as they work toward producing pro-American tax reform. The framework envisions a 21st-century tax code that is built for growth, that supports middle-class families, and that promotes American workers and American jobs. It is the framework our committees will look to as they work through a transparent and inclusive process in pursuit of its important goals, such as more jobs, fairer taxes, and bigger paychecks.

Basically, here is what our framework envisions: We want to take more money out of Washington's pocket and put more in yours, simply put. I know the chairman of the Finance Committee is committed to goals like those. I know I am. I hope our friends across the aisle will work with us in a serious way to achieve them as well because after decades of lost economic opportunities, it is time to get our economy on the right track again so it can finally grow at its full potential.

Let's shift our economy into high gear with pro-jobs tax reform.

Let's put our finances on a better path with Chairman Enzi's budget.

Let's watch the good work of each initiative advance within the Finance and Budget Committees this week, including the Finance Committee hearing on tax reform this morning.

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