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Tax Reform

Floor Speech

Date: Oct. 11, 2018
Location: Washington, DC
Issues: Taxes

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Mr. McCONNELL. Madam President, it has been more than 9 months since Republicans passed the most sweeping tax reform in a generation. Here are just a few of the economic headlines we have seen since it took effect: consumer confidence at an 18-year high, faster year-on-year wage growth than at any point since 2009, and the lowest national unemployment since 1969--almost 50 years ago.

Behind all of these numbers are middle-class families whose lives are changing for the better, and the effects are reaching all kinds of communities--even the places most neglected for nearly a decade by the Obama administration's so-called recovery.

After years of investment and job creation being disproportionately concentrated in the biggest metropolitan areas, 2018 has been a different story. So far this year, it has been smaller and rural communities--smaller and rural communities--that have led the Nation in relative job growth. Out across the heartland, empty storefronts and stagnant local economies are giving way to vibrant transformation and new opportunities.

So when we hear that States like Missouri are thriving again on the watch of the Republicans' pro-growth, pro-opportunity agenda, it really shouldn't come as a surprise. It shouldn't surprise us that Missouri's statewide unemployment rate has reached its lowest level since 2000-- the lowest unemployment in 18 years.

News like this will not surprise anyone who has been listening to the accounts of Missourians, like Mary Beth Hartman, who runs a small construction company in Springfield. She says the new tax law has given her the flexibility to expand vacations and bonuses for her employees and invest half a million dollars in new equipment.

Or Brandon Pister--he used his tax reform bonus to help his family cover medical expenses and put money into savings.

The junior Senator from Missouri can be proud that he voted for the historic policies that helped unleash all of this good news. It is a shame that his colleague, the senior Senator from Missouri, chose to vote in lockstep with Senate Democrats and try to block tax reform from taking effect.

Republicans will keep sharing success stories like these from Missouri and keep helping the American people write more.

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