Tax Reform

Floor Speech

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Mr. McCONNELL. Mr. President, on another matter, with Republican policies shaking the regulatory rust off of the U.S. economy, American job creators, entrepreneurs, and working families have been thinking big again.

For 8 years, Democrats pushed a one-size-fits-all agenda that heaped outsized benefits on the largest cities and left the rest of the country struggling to catch up. Now Main Street businesses across America feel the wind is at their backs. So they are expanding their operations, buying more equipment, and hiring new workers.

For too long, taxpayers grappled with an outdated Federal Tax Code that seemed to keep more of their hard-earned income every year. Now, thanks to Republican tax reform, working families are seeing paychecks grow, special bonuses hit their bank accounts, and will send thousands of dollars less to the IRS next year.

Now that Congress and the President have put a stop to the last administration's rampant, top-down Federal rulemaking, U.S. manufacturing is churning back to life as well. The new economic climate that is taking hold across the country has producers feeling more confident about planting deeper roots right here in the United States--new capital investment, new factories, new American jobs.

Novelis, a leading producer of rolled and recycled aluminum, broke ground just this week on a new factory in Guthrie, KY. The company is choosing the Commonwealth in which to build the 400,000-square-foot facility and create at least 125 new jobs, and they are not keeping any secrets about what is helping them make this investment. Here is a quote: ``A favorable economic environment,'' including ``the significant positive impact of tax reform in the U.S., reinforces Novelis' decision to expand at this time.''

This is not just a Kentucky phenomenon. According to new survey data from the National Association of Manufacturers, more than 93 percent of U.S. manufacturing firms have a positive outlook. Already, 77 percent of manufacturers are reporting hiring new workers, and 86 percent say they are investing in plants and equipment.

Many American communities revolve around these manufacturing facilities. Sadly, during the Obama years, they were among the most likely to be left behind by the so-called ``recovery,'' but now that is changing. Today, manufacturing wages are growing at their fastest pace in 17 years. These are just a few signs of our Nation's economic comeback under Republicans' pro-growth, pro-opportunity agenda.

Remember, not one of our Democratic colleagues voted with us to set this train in motion--not one. They voted against cutting redtape for American manufacturers. They voted against the tax reforms that are growing paychecks and helping to create new jobs. They voted against the newly lowered utility rates that benefit both families and employers.

My Democratic colleagues like to talk about supporting the middle class. These days, it is looking more and more like that is all it is-- just talk. Yet, while they occupy themselves with partisan politics, Republicans will keep on clearing the tracks and letting the American economy roll on ahead.

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