Leaders of the Senate Finance Committee applauded the vision for comprehensive tax reform that President Donald Trump outlined on Wednesday in an address held in Springfield, Missouri.
U.S. Sen. Orrin Hatch (R-UT), the chairman of the Senate Finance Committee, and U.S. Sens. Richard Burr (R-NC) and Dean Heller (R-NV), both members of the committee, voiced support for the president’s commitment to simplify the tax code, close special interest loopholes, bring tax relief to families and lower the corporate tax rate to 15 percent.
“A simplified tax code anchored in fairness will help hard working, middle-class families be better equipped to invest in their future,” Hatch said on Wednesday. “Creating fertile ground that invites businesses, both large and small, to do more here at home will help to create and retain higher-paying jobs for more American workers. And, getting rates down across the board will help keep our nation competitive around the globe.”
Hatch said his goal, like the president’s, is that tax reform advances with bipartisan support. The Senate Finance Committee plans additional hearings on tax reform and a markup this fall, he added.
Burr said he was pleased with the president’s first steps toward tax reform. He said Americans have suffered under a complicated and burdensome tax system that inhibits growth and takes money from families for too long.
“I have advocated for years in Congress for simplifying our tax code, lowering rates for everyone and allowing individuals to save money and time filing their taxes,” Burr said. “These common sense solutions will allow our nation to again be the envy of the world when it comes to opportunity.”
Heller said Congress is ready to address tax reform, and he said he was encouraged by the president’s comments about bringing tax relief to all families.
“Nevada’s hardworking families and small business owners have been waiting for a simpler, fairer tax code for years now, and Congress and the White House are poised to make that happen,” Heller said.
Earlier this week Heller hosted Treasury Secretary Steven Mnuchin in Las Vegas for a meeting with Nevada employers in order to learn more about Nevadans’ priorities as tax reform begins to take shape.
“… The message we received from these business leaders was clear — lowering rates will help boost the economy, create jobs and increase wages,” Heller said.
“As a member of the Senate Finance Committee, I’m looking forward to working with the Administration on this issue and having a seat at the table to make sure that the final product is what’s best for Nevada.”