Portman Statement on the Release of the Senate Tax Reform Plan
Says Tax Reform is About Helping Middle Class, Creating Jobs & Boosting Wages – Will Save Typical Family of Four Nearly $1,500
WASHINGTON, D.C. – U.S. Senator Rob Portman (R-OH) today praised the introduction of the Senate tax reform proposal, saying it will help the middle class, create more jobs, and increase wages for American workers. A summary of the plan can be found here. Portman’s floor remarks from this afternoon on the new tax bill can be found here. Portman issued the following statement:
Tax reform is the single most important thing we can do to grow our economy, and I’m excited about this opportunity to provide tax relief to the middle class, create more jobs, and increase wages for American workers. Since I came to the Senate in 2011, we’ve had 70 hearings on tax reform in the Finance Committee. And next week, we will begin the process of considering this bill in committee, where every member will have the opportunity to have their voice heard and offer amendments to this proposal. The structure of the House and Senate proposals are similar, and while some of the details are different, I’m confident we can resolve them and get this done.
“Our plan is focused on three things. First is middle-class tax relief to help Ohio families who are dealing with this middle-class squeeze where expenses are up and wages are flat. With this plan, a median income family of four will save nearly $1,500 a year on their taxes. Instead of going to their tax bill, that money can go toward gas or groceries, a car payment, retirement, college savings, or a family vacation. Second is helping make American companies more competitive so we can create more jobs and increase wages here at home instead of encouraging businesses to leave for other countries, which is happening now. Third is leveling the playing field internationally so we can bring back jobs and investment. It’s crazy that we have a tax code that encourages companies to send jobs and investment overseas, and it’s outrageous that Congress has allowed this to happen. Our plan will fix this and help bring jobs and investment home. We’ve listened to the American people, and now it’s time to deliver on our promise to reform this broken tax code.”