NCGOP Statement on Tax Cuts & Jobs Act
Raleigh, NC -- Early this morning the Senate voted to pass the GOP tax plan. NCGOP Chairman Robin Hayes responded below:
"With this critical vote, Senate Republicans took the next step in delivering tax cuts and letting working-class Americans keep more of their hard-earned paychecks. By making good on their promises to overhaul our tax code, Senator Burr and Senator Tillis are putting the people of North Carolina first and giving our economy a much-needed boost. I hope Democrats get off the bench to work with Republicans as the House and Senate work together to finalize this tax cut plan." - NCGOP Chairman Robin Hayes
"Thanks to Republican leadership, we are one step closer to delivering historic tax reform for the American people. President Trump and Republican leaders in Congress made a pledge to expand economic opportunity for all, cut taxes for the middle class and small business owners—and tonight, they kept their promise. This legislation will spur growth, strengthen our economy, and empower American businesses to create more American jobs, and I am confident tonight’s vote will continue the process of making America great again." - RNC Chairwoman McDaniel
GOP TAX PLAN
TAX REFORM WILL BE A GAME-CHANGER FOR SMALL BUSINESSES
- Small businesses and small-scale employers are the backbone of the American economy, but our complex and burdensome tax code makes it exceedingly difficult for them to succeed.
- According to a CNBC/SurveyMonkey Small Business survey released this fall, the number one concern of small-business owners is taxes. This comes in two parts: tax rates and tax compliance.
TAX REFORM WILL JUMP START ECONOMIC GROWTH
- Creating a more competitive business environment could boost GDP by 3-5% and lead to greater investment, job creation and productivity.
- The real winners of a pro-growth tax reform plan are American workers and middle-class families who deserve to see higher wages and more economic opportunities.
THE WINNERS OF PRO-GROWTH TAX REFORM WILL BE THE MIDDLE CLASS
- A recent report by the Tax Foundation noted that both the House and Senate tax reform bills will increase long-run GDP by at least 3.5 percent.
- A less burdensome and simpler tax code will make American businesses more competitive, boost job growth and wages, and grow our economy.
- All Americans stand to benefit when our economy is growing. A stronger economy means more wealth, new jobs, and higher wages for hardworking, middle-class Americans. A stronger economy means a new age of opportunity.