Late last night, the Senate passed House Concurrent Resolution 71, the Fiscal Year 2018 Budget Resolution. That might seem like wonky Washington-speak, but this resolution is the foundation for the tax reform that will jumpstart the economy and grow wages. Reforming our tax code is a once-in-a-generation opportunity, and we are now one step closer to achieving this goal.
As I’ve discussed before, our broken tax code is holding back our economy because it discourages investment in America and hurts America’s ability to compete. We must simplify the tax code and encourage businesses to expand in America, not overseas. We must also bring our tax system into the 21st century so that future American generations can compete in the global economy. This will encourage job creation here at home, make it easier to start a business in the entrepreneurial capital of the world, and grow wages so that families can save more.
After countless amendments offered, and numerous hours of debate, my colleagues in the Senate voted to move forward in this important process. We have an obligation to ensure the American dream is possible, and I look forward to working with my fellow members of the Senate Finance Committee on the details of this important legislation. It’s regular folks like the ones you see here and our children that will benefit most from modernizing the tax code, and I won’t stop working until that happens.