CORNYN: Economists Praise Senate ‘Tax Cut & Jobs Act’ Prior to Vote

‘It cuts tax rates across the board, reducing the burden on American job creators and middle-class families alike. It’s been estimated that folks back in my home state of Texas will see more than 76,000 new jobs created.’

Texas Insider Report: WASHINGTON, D.C. — “A lot is on the line this week as we debate and vote on the Senate’s tax reform bill,” said Senator John Cornyn from the Senate Floor, praising the tax reform proposal that passed out of the Senate Finance Committee recently and previewing the Senate’s consideration of the legislation.

  • Excerpts of Sen. Cornyn’s remarks are below, and video of his remarks can be found here.

“This week, we’ll be considering the Senate’s version… of our Tax Cuts & Jobs Act, which is the first major overhaul of our nation’s tax code in more than 30 years.

“Under our proposal, it’s been estimated that folks back in my home state of Texas will see more than 76,000 new jobs created.” 

“Two days ago, we got a letter from nine world-class experts on tax policy and economics… In that letter, they praised the plan’s objectives to enhance the prospects of both increased economic growth and household incomes – more take-home pay.

“But not only that, they said based on their analysis, our plan is likely to achieve those objectives, too.” 

“To regain our standing in the world, we need to get our financial house in order. The first step is to pass this tax reform package, which will show our seriousness and determination in jump-starting our economy as a way to address our fiscal challenges.

Senator John Cornyn, a Republican from Texas, is a member of the Senate Finance, Intelligence, and Judiciary Committees.

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