Local lawmakers react to Senate passing tax reform
SOUTH BEND, Ind. -
The Senate narrowly passed a tax reform bill early Saturday morning with a final vote of 51-49 and no Democrat in support of the legislation.
Sen. Joe Donnelly among those Democrats opposing the bill. He said in a statement he is disappointed, calling the bill a missed opportunity.
“From the beginning I’ve been willing to partner with Republicans, with Democrats, with the president, with this Administration,” said Donnelly. “I agreed with President Trump’s stated goals of supporting the middle class and keeping jobs here in America. I strongly believe tax reform can be done in a way that’s good for working Hoosier families.”
The senator says he hoped for tax reform that would encourage the investment in American workers and address the outsourcing of jobs. But he said this bill doesn’t accomplish those goals.
“Here’s the bottom line: I opposed Mitch McConnell’s bill because it is not tax reform, it’s a partisan tax hike on Indiana’s middle class, it does nothing to prevent outsourcing of US jobs to foreign countries, and it’s a giveaway to Wall Street and other big money interests,” Donnelly said.
Sen. Todd Young voted in favor of the bill, calling it a ‘big win for Hoosiers.’
“Not only did we repeal the oppressive individual mandate tax of Obamacare, but we acted on tax reform for the first time in 30 years that will ensure Hoosiers have a code that is fairer, that is simpler, and that allows them to keep more of what they earn,” he said.
Young says the tax reform will cause a reduction in rates for small businesses, which will allow those businesses to invest in more capitol equipment. This could result in higher productivity and higher wages for workers.
“Many American workers have not seen a pay raise in a decade,” said Young. “And over 50 percent of American families are living paycheck to paycheck. Repealing the Obamacare tax, doubling the standard deduction, doubling the Child Tax Credit, and lowering rates for middle-income Americans will provide needed relief.”
The next step is to reconcile the differences between the House and Senate version of the legislation.
Congresswoman Jackie Walorski, who spoke in favor of the House version of the bill, said she looks forward to finalizing the bill.
“Hardworking Hoosiers send too much of their hard-earned money to Washington and spend too much time figuring out their taxes,” said Walorski. “That’s why the House passed historic tax reform legislation that would boost our economy, simplify the tax code, level the playing field for American workers, and let middle-income families keep more of their paychecks. Now the Senate’s action has brought us yet another step closer to getting tax reform across the finish line, and I look forward to working together to send President Trump a bill to sign.”
The House will vote Monday on a motion to go to conference.