Skip to main content

tv   House Republicans on Tax Reform  CSPAN  November 2, 2017 1:57pm-2:24pm EDT

1:57 pm
quote
1:58 pm
speaker ryan: morning. good morning. first, i want to thank these families for taking time out of their day to join us. welcome. it is great to have you here with us today. fantastic. [applause] you are here who this is all about. this plan is for the middle class families in this country that deserves a break. it is for the families living paycheck to paycheck who just keep getting squeezed.
Check
1:59 pm
you know, about half the country is living paycheck to paycheck and more are about a paycheck away from living paycheck to paycheck in this country and this will help give people relief. the tax cut and jobs act will deliver real relief for people in the middle, people who are also striving to get there. with this plan, the typical family of four will save $1,182 a year on their taxes. for many families, having an additional $1,182 more will make a real difference. that $1,182 more covers about a year's worth of gas for your car. it covers your family's phone bill for the year, depending how much data your kids use. that $1,182 more could help you pay down your debt faster. it could renovate your home faster. that $1, 182 more for the average family, that will help you put more money away for
2:00 pm
college. it will help you save for retirement. it will help you save for a rainy day. with this plan we are getting rid of loopholes for special interests and we are leveling the playing field. we are making things so simple -- we are making things so simple you can do your taxes on a form the size of a postcard. . this is a -- an important moment for all americans. are we going to continue down this downward spiral or realize the promise of our country? are we going to revite rise the american idea? this is our chance to make sure that generations to come don't just get by, they get ahead in this country. let me tush this over to the person who led this effort. i am so proud of this man and this committee in this room. i want to turn it over to the chairman of the ways and means committee and i want to thank all the members of the ways and
2:01 pm
means committee for bringing us to where we are and getting us to this point. ladies and gentlemen, the leader of this moment, kevin brady, chairman of the ways and means committee. mr. brady: thank you, mr. speaker. thank you. the american families standing with us today. thank you as well to the ways and means committee members who have been listening and traveling across this country for this historic day. this is an exciting day. i think we all feel the excitement here in this room and here in this country. i know the american people have got to be excited as well. real relief from today's complex, kansasly, and unfair tax code is on the way. with this bill, there's relief for real american families. there's relief for american workers and there's tax relief for hardworking job creators of all sizes. with this bill, we will grow our
2:02 pm
economy by delivering more jobs, fair taxes and bigger paychecks to americans of all walk of life. that's -- of all walks of life. that's especially true of low and middle income american whors sick of today's broken tax code, its impact on their jobs, their lives, an their paychecks. under the tax cuts and jobs act, that's going to change. it's going to change right now. far middle income family of four making $59,000 a year this bill delivers tax cut of nearly $1,200. for that main street business making $62,000 a year, working day and night and weekends, a tax cut of other $3,000. for that main street business. that's your money. you earned it. you deserve to keep it. and you should be able to use it for whatever you want. that's exactly what this bill will do and that's why the tax t and jobs act has president
2:03 pm
trump's full support. this is it, america. this is our opportunity to make tax reform a reality and deliver the most transformational tax cut in a generation. let's not let washington's special interests, the tv pundits, or the pessimists fool you. none of them even thought we'd get this far with tax reform and they're wrong. now working together with president trump, our colleagues in the house and senate, and you, the american people, we're going to prove them wrong once and for all by getting pro-growth tax reform to the president's desk this year. thank you. >> thank you, chairman brady for your leadership, the members of the ways and means committee. the speaker said this is a special moment, we are going to make our economy boom.
2:04 pm
mrs. mcmorris rodgers: for that median income family of four, we're talking $1,182 in your pocket. think about the holidays around the corner what that means in your life. you know, as i travel around washington and visit towns and communities, recently i was down in north carolina, in michigan, u think about $1,182 for someone living paycheck to paycheck. someone in kettle falls, that's a big difference. or family like dee coobling's from michigan, maybe they can put more toward their mortgage. or victor a restaurant own in michigan , he says, quote, we pay our taxes first. we pay our people second. we pay our bills third. and then if anything is left over, we get paid. our plan is going to help people like victor. our plan also means more peace
2:05 pm
of mind. to spend more time with your kids or maybe your aging parents. or maybe just hang out with your friends. our plan is pro-family and it's pro-economic growth. because we value hard work and family. so if we're going to have a tax code that puts families first, i think we need to recognize that today's working american family has really changed since our tax code was last reformed. with that comes big change for realities that our families face every day. for one, women today are making history in the work force. two out of three businesses are being started by women. this means a lot of things. it includes an increase of working moms like some that are represented here today. we too are the faces of tax reform. that's why i'm pleased that our plan includes an expansion of the child tax credit a family credit, it's going to help families have more money in their pocketbooks.
2:06 pm
pro-family, pro-growth. that's what this plan is all about. so that you can plan for your future, realize your fullest potential and empower american families to start dreaming again. tax reform ow, text o 50589. >> this is an important daying i hope you understand the significance of it. for every member this could become the most significant bill they ever make a decision on in their term in congress. mr. mccarthy: more than three decades, for the last time we had tax reform this size. the american public has been asking for it. i think it's a little ironic that today is the seventh anniversary of republicans being elected to the majority in the house and then moving to the senate and now we have a president who has pushed to make sure hard working americans get to keep more of what they earn.
2:07 pm
three mange points i want to -- -- three major points i want to make. when i was 20 years old, i started my first small business. small business creates more jobs than any other thing in america. in this bill they'll get lower taxes, go to 25%, the lowest it's been in 40 queers. more small businesses, more jobs. second, every single american is going to keep more of what they earn. when you talk about a standard deduction, instead of the first $6,000 you earn tax free, it's $12,000. for families and couples, the first $24,000 you earn, tax free. you get to keep it. you get to determine what's best to invest. we're going to bring the money that's sitting overseas back to invest in american businesses. even before this bill goes into
2:08 pm
effect, i believe you're going to hear from businesses saying they want to come back to america. the cornerstone of what ways and means, of what president trump has work sod hard about, at the end of the day is that middle class family able to get more? as you heard from every other speaker up here, almost $1,200 in your pocket. that's the difference. this is about tax cuts. this is about america first. this is about the future. not only will america grow, we'll show the rest of the world how to lead. i want to introduce one of those individuals who got elected sen. years ago. who became a leader on ways and means and has really shown the direction of so much in this ill. hristy nelson. >> thank you, mr. leader.
2:09 pm
was out shopping the other day, a woman came toward me she said, when is it going to get bet her mrs. noem: she said health care costs have gone up, i had to car pool in to town tonight, waiting for a friend to pick me up, when will it get better, i haven't had a raise in years. i know this bill will help her. she was on the forefront of my mind when working on this package. the mortgage interest rate deduction, the family tax credit, i hope you understand how much it's been expanded to not just take into account a child tax credit but add benefits for elderly dependents in the home, children in the home who are going to college, and provide relief for families that are struggling. also starting january, their paychecks are going to be bigger. that's going to make a huge
2:10 pm
difference for them. i became passionate about tax reform years ago. it was because when i was going to college, my dad was killed in an accident on our family farm. he was 49 years old. he was my hero and my entire life all i had wanted to do was grow up and farm with him. when he was killed, about a month later, we got a bill in the mail from the i.r.s. that said we owed death taxes. we had land. we had cattle. we had machinery, but we didn't have money in the bank. i could not believe the federal government would come to a family that had already paid taxes on all that income and say because you had a tragedy, now you have to pay again. we took out a loan but it took us 10 years to pay off that loan. and it was difficult for us to keep our family operation. if we had had a gas station or grocery store the only option that would have been available to us would have been to sell that family business to pay those taxes. so i ran for the state legislature, i ran for congress on a lot of issues but repealing
2:11 pm
the death tax is incredibly important to me. it's the most unfair tax in our tax code. it's a double tax. and if we're going to really get back to a tax code that helps people and doesn't harm them, that's fair that doesn't have special pr visions or penalties by us picking winners and losers, we have to repeal the death tax. so i'm excited about the provisions in this bill and what it does for people in all walks of life. its focus on bringing relief to low and middle income individuals. and also focused on interest deductibility for farms an ranches across the state and other provisions that to the allow them to expense and bring down rates while they're being successful and helping our economy grow again. this is a unique opportunity for me. it's a unique opportunity for you. it's a wonderful opportunity for our country. i'm thrilled to be part of it. >> this is an exciting day for
2:12 pm
american families who are tired of paying too much in taxes. mr. scalise: who are fed up with a tax code that's so complicated if you call 10 different i.r.s. agents you get 10 different answers. people who are fed up with an economy that's not growing. the good news is that changes today with this tax cut plan that finally puts money back in the pockets of working families. if you look at what was done here, chairman brady and his committee on ways and means have worked incredibly hard to make sure that hard working families are going to get more of their paychecks. they're going to be able to keep more money. you're going to see wages go by getting our economy back on track. every time i see a company moving jobs overseas, it makes me angry. now we can be angry, we can be mad, but today we do something about it. by changing the tax code, we actually bring those jobs back to america. you're going to see tens of thousands of high-paying jobs.
2:13 pm
come back to america. because right now america is dead last in the industrialized world because we have the highest tax rate. that needs to change. let's make america competitive again. that's what our bill does. and by making america competitive again, we have an opportunity to rebuild the middle class. to bring good jobs back to america. and to grow our economy. just like these families behind me, they want to see more money in their pocketsful they deserve to have more shots at the american dream. you're going to see more people have real opportunity and have a real chance to get their piece of the american dream by having more money in their pockets and by seeing things like the death tax eliminated just like kristi talked about. this is an exciting day not only because we're standing here today as republicans in the house moving forward but president trump is standing with us. president trump campaigned on doing this exact same thing. of putting money back in the pockets of hardworking families and making sure we can rebuild our middle class and get our
2:14 pm
economy back on trk. it's exciting to be working with president trump to do something that's truly going to grow our economy and give more people a chance to have their piece of the american dream. now i'd like to turn it over to peter roskam, who has been a lead thorne ways and means committee at helping make sure we can simplify this tax code so much that you can actually fill out over 90% of americans will be able to fill out their taxes on a postcard. that's what simplicity mean, not only having more money in your pocket but being able to do this eter roskam. mr. roskam: thank you, mr. whip. you notice that the children are becoming impatient with tax reform, she's become a table pounder, get me this action right now. what we're going after, we're directly attacking the status quo. the status quo of the tax code, the status quo of the internal
2:15 pm
revenue code is the problem. it's the few that benefit under the status quo. it's everybody else that basically feels crushed by this and overwhelmed by this and we act as if historically this is a natural disaster that we can't do anything about. it's not a natural disaster. the internal revenue code is a statute. it was created by congress and it can be changed by congress. and what you sense right now, the optimism here on this podium, the sense of forward-lookingness across the american public, is people are longing for something. that gives them relief. they're longing for something that will bring back sort of the competitive nature. look, there's two views of the economy that are competing for the affections of the american people right now. one view is wrong. it's the zero sum game view of the economy. it says if somebody is successful that comes at someone else's demise. we reject that whole heartedly.
2:16 pm
the other view says, no, no, no. when people are successful, it's a benefit to everybody. we're sensitive to making sure everyone can participate and that added structure, these changes that we are proposing, are transformational for everyone. so i think what we need to do now is to be diligent, to be convincing, to be invitational and recognize that opportunities like this are few and far between. and so i want to thank our speaker and our leadership team and chairman brady especially for being the patience and being willing to listen to changes and to hear criticisms and critique bus ultimately to be incredibly disciplined and persevering to make sure that we have the opportunity to determine our uture. mr. ryan: these kids are behaving better than my kids do at church, fantastic job, guys.
2:17 pm
any questions? >> did you work to make sure the corporate is permanent while parts of the family credit are temporary. mr. brady: we are focused on enincreasing paychecks in a major way. the know the families who strug they will most have seen their paychecks leave for other countries. so we drove toward a 20% rate so our local businesses can compete and win anywhere in the world. especially here at home. so they can compete and create jobs competing against china, europe, and mexico, can create jobs here in america as well. it was critically important. the rest of the world understands, we're not going to be the doormat any longer. we're not going to standstill for 30 years when they leave us in the dust. we're going to compete and we're
2:18 pm
going to win and our jobs and paychecks for the middle class families are going to grow. permanent for businesses, permanence for families, matter. we did create in this few family credit which i think you ought to take a close look at a look at our neighbors, not only getting more help with their child, get manager help for themselves in that -- and that college kid, i've got one at home, or that parent coming back to live, and the most important thing about that family credit, it doubles the amount of americans who can finally get help with their kids. this is a family friendly tax code. so i'm very excited about what this brings middle class americans. i think permanence and certainty drive that growth. >> can you talk about the republicans compromise among
quote
2:19 pm
themselves compared to what we saw with the health care bill, it was a bit messier? and secondaryly, for years you and other republicans have argued that all americans that pay taxes and work should get a tax cut but with some of the elements of this bill and where your retorical focus is people in certain positions on the income scale. it steered away from the argument you have with democrats over the past 10 to 20 years and certainly under obama. can you talk about that? mr. ryan: the political will is strong and you can see it here. we have not reformed the tax code since 1986. the world is passing this country by. we're losing jobs and companies because of it. the political will among members here in the house as shown by the member os they have ways and means committee is ironclad to get this done because if we don't do this, we will not get the kind of economic potential we know we can reach. the fact that people are living paycheck to paycheck in this country, they need a break. so yes, the focus is on middle
2:20 pm
class tax relief. the focus is on bringing that tax relief to people in the middle and people trying to get there. that's why we put our emphasis on the tax relief for those people in the middle or working paycheck to paycheck, striving to get ahead and what kevin just said, we've got to modernize our tax code so ewe can be competitive again so we can keep jobs in this country, keep businesses in this country. we have seen a flurry of u.s. companies moving overseas and becoming foreign companies. that will only increase if we stay at the back of the pack. that is why we have to work quickly to fix our tax system, clean it up, level the playing field, make it more fair, so we can get bigger paychecks, more jobs and keep businesses in america and get businesses coming back home. we're the only company that says if you make money overs keep it there because tax laws dent let you bring it back. this levels the playing field, gets that money back in our country to nst in our jobs here. that's going to help paychecks, that's going to help
2:21 pm
competitiveness. that's why republican committed to doing this. -- bush tax ck cuts didn't create more jobs. why are you certain this will be different? . brady: first can i comment did the speaker just sound like a former chairman of the ways and means committee? what was the question? >> the bush tax uh cuts didn't lead to higher wages so why are you so confident about this one? mr. brady:s that complete redesign of the code so nine out of 10 americans can file using a postcard system. protect manager of the first thrars you earn. making sure we have strong middle class relief. it's more than that. we're not just putting higher
2:22 pm
octane fuel in an old clunker of a tax car. we proposed to drive a newer tax car that can compete and win against any country in the world so that redesign for simplicity, fairness and competitiveness, i predict under this tax reform plan america will vault from 31st in the world among our competitors to the top three as the best places on the planet for that next new job, that next new manufacturing plant, that next new research headquarters. that is what is different. mr. ryan: casie? >> if republicans can't get this done do you deserve to control the congress? mr. ryan: what's your second question? we're going to get this done because the american people are counting on us. we told the american people this is what we're going to do if we get the majority and we're doing
2:23 pm
it. thank you, everybody. appreciate it. [applause] [captions copyright national cable satellite corp. 2017] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> lawmakers in the house have been working on eliminating the board that's tasked with making cuts in

70 Views

info Stream Only

Uploaded by TV Archive on