Ahead Of Consideration, Economists Praise Senate’s Tax Cuts And Jobs Act

“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…”

WASHINGTON –On the Senate floor, U.S. Senator John Cornyn (R-TX) praised the tax reform proposal that passed out of the Senate Finance Committee recently and previewed the Senate’s consideration of the legislation.

“This week, we’ll be considering the Senate’s version… of our Tax Cuts and Jobs Act, which is the first major overhaul of our nation’s tax code in more than thirty years. It cuts tax rates across the board, reducing the burden on American job creators and middle-class families alike. 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. A lot is on the line this week as we debate and vote on the Senate’s tax reform bill.”