U.S. Sen. John Hoeven and U.S. Rep. Kevin Cramer, Republicans of North Dakota, joined President Donald Trump in their home state on Wednesday as he stressed the need for tax reform, relief that the lawmakers said would be a boon for North Dakota’s economy.
During an address in Mandan, North Dakota, Trump and U.S. Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn outlined major tax cuts for families and businesses and a simple, one-page tax form as priorities for tax reform efforts.
Wednesday’s speech by the president “highlighted North Dakota’s role in powering our nation’s economy and how tax reform will empower greater economic growth, job creation and help to increase wages for our workers, while also providing tax relief for individuals and families across the country,” Hoeven said. “We need to get tax reform done for the American people.”
Hoeven listed reducing compliance costs for businesses and families by simplifying the tax code, lowering tax rates and expanding the tax base to stabilize revenues as his top priorities for pro-growth tax reform.
“It’s no surprise President Trump used North Dakota as his backdrop for discussing the restoration of America’s competitive edge through tax reform,” Cramer said. “With the lowest unemployment rate in the nation, North Dakota is the role model for what can happen when our government focuses on promoting job growth and reducing complex regulations that harm businesses.”
According to the House Ways and Means Committee, the House Republicans tax reform plan would have a positive impact on incomes and jobs in North Dakota. North Dakota’s median household income is estimated to gain $4,995 after taxes and 5,123 new jobs would be created under the plan.
Cramer said tax reform is the single most important policy change that could boost wages, economic growth and create jobs across the country.
“Failing to implement meaningful tax reform would be a failure to the American people and we must act now,” Cramer said.
The majority of North Dakotans, 73 percent, support tax reform efforts that are being considered, according to a recent poll.