Washington, D.C. — Today, House Ways and Means Chairman Kevin Brady (R-TX) delivered the following remarks in support of H.R. 6760, the Protecting Family and Small Business Tax Cuts Act, on the House floor.
Remarks as prepared for delivery:
“For far too long, Americans watched as an entitled Federal Government took a bigger and bigger slice from their family’s budget.
“But that changed last year. With the Tax Cuts and Jobs Act we choose you – the hardworking taxpayers of this country.
“With our new code we were determined to let you keep more of what you earn – and boy has the result been incredible.
“Eight months later we’ve seen an economic turnaround with more jobs, bigger paychecks, and historic Main Street optimism.
“We’ve gone from asking “where are the jobs” to “where are more workers?” One small business owner recently told me that thanks to the new code they are set to have their best year ever.
“This has meant real change for real people – with nearly 1.7 million new jobs created since January and wages rising at their fastest rate in nine years.
“While this economic turnaround has come as a shock to opponents of the new tax code here in Washington, it’s no surprise to millions of hardworking families and small businesses across America who were overtaxed and over-regulated.
“Thanks to our new code, there is a new hope and a new optimism that wasn’t here before. To call it a sudden change from the sluggish Obama-era economy would be an understatement.
“For a decade, it was like America’s economy was going through a 25 mile per hour zone. Now that the high taxes and uncompetitive regulations are gone, we’re on the open highway again.
“It’s critical that we keep this strong momentum going – especially for Americans who were hit hardest by the Great Recession.
“That’s what the legislation before us today is all about. By making the new code permanent for families and small businesses, the Protecting Family and Small Business Tax Cuts Act will keep America’s economy booming.
“In fact, the nonpartisan Tax Foundation estimates this will add 1.5 million new jobs and increase GDP over 2%. That’s on top of the 1.7 million new jobs we’ve already seen created since the Tax Cuts and Jobs Act was signed into law by President Trump.
“We don’t want to go to back to the bad old days of higher taxes, Main Street not hiring, jobs going overseas, and our economic growth puttering along.
“So given the choice between keeping taxes high and allowing families to keep more of their money, Republicans chose—and continue to choose—the American people.
“I thank Representative Rodney Davis for introducing this bill and Representatives Meadows and Walker, along with all of our Republican Ways and Means Members, for being original cosponsors.
“Empowering families to run their own lives is at the heart of the American Dream. It’s the key to our nation’s economic success, and it’s the reason that, eight months after tax reform became law, Americans are more hopeful about their future.”