U.S. Senator Mike Enzi, R-Wyo., Chairman of the Senate Budget Committee, today said Congress should focus on growing America’s economy through tax policies that put more money in the hands of hardworking Americans as the committee began consideration of the Senate’s FY 2018 Budget Resolution.
“Our nation needs a simpler, fairer, and more transparent tax system that will leave more dollars in the pockets of working families,” Enzi said. “This budget will put in motion a process for pro-growth reform that will cut taxes on American families and job creators by a net $1.5 trillion over 10 years. In addition to keeping more money in the pockets of hardworking taxpayers, such reform done right will spur investment and reinvigorate productivity here at home.”
Enzi noted the last time Congress was able to accomplish large-scale tax reform was in 1986 and much has changed in the country and the world in those 31 years, including our tax code.
“While the Senate budget is first and foremost about reforming the tax code, it is also a serious fiscal plan,” Enzi said. “If Congress and the Administration can adhere to this budget blueprint, we will be on a better fiscal track with a combination of restrained spending, reduced tax burdens, and a growing economy. By 2026, the resolution – with ensuing economic growth from tax reform, reduced spending and an improved regulatory landscape – would generate a $79 billion on-budget surplus. This surplus would grow to $197 billion by 2027.”