Young, Donnelly release statements on Senate tax reform bill
Sunday, 03 December 2017 00:52

The U.S. Senate passed a sweeping tax rewrite early Saturday (Dec. 2) in a 51-49 vote.

Republican Senator Bob Corker of Tennessee joined all Senate Democrats in voting against the 500-page bill. The proposed legislation now moves to a conference committee to work out the differences between the Senate version a House of Representatives tax bill passed last month.

The final bill will be sent to the President for his signature into law.

Both Indiana Senators Joe Donnelly (who voted against the bill) and Todd Young (who voted for it) issued statements following the Senate vote Saturday:

 

Young votes for tax reform package

WASHINGTON, D.C. – U.S. Senator Todd Young (R-Ind.) Saturday issued the following statement regarding passage of the Senate’s tax reform bill. The bill passed by a 51-49 vote. 

“This is 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.

“Many American workers have not seen a pay raise in a decade. 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.”

To see Young’s video statement, click here.

 

Donnelly votes against Senate tax reform bill

WASHINGTON, D.C. –  U.S. Senator Joe Donnelly released a video statement after voting against the Senate tax reform bill.

Donnelly said he has been "willing all along to work toward tax reform that will benefit middle class families."  

In his video statement Donnelly said,“From the beginning I’ve been willing to partner with Republicans, with Democrats, with the president, with this administration. I agreed with President Trump’s stated goals of supporting the middle class and keeping jobs here in America ... 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 U.S. jobs to foreign countries, and it’s a giveaway to Wall Street and other big money interests.”

To see Donnelly’s statement, click here.

 

Transcript of Donnelly’s video statement:

Hello. I’m U.S. Senator Joe Donnelly. I wanted to briefly speak to you about why I voted against Senator Mitch McConnell’s tax hike bill.

I believe we need to reform our tax code and cut taxes for the middle class. From the beginning I’ve been willing to partner with Republicans, with Democrats, with the president, with this Administration. 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.

Unfortunately, this tax hike bill from Senator McConnell does not reflect the priorities the president and I discussed on numerous occasions, including when I traveled with him on Air Force One to Indiana recently—and that is why I couldn’t support this bill. It results in a tax hike for nearly a million middle class Hoosier families in the coming years and it fails to address the outsourcing of jobs to foreign countries. In addition, this bill takes away health care and raises costs for millions of families.

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.     

Independent, non-partisan analyses suggest this bill would raise taxes on a majority of families making less than $75,000, while at the same time giving a tax cut to the wealthiest and the top one percent. This bill does not close tax loopholes like one that allows Wall Street hedge fund managers to pay a lower tax rate than a Hoosier firefighter, than a Hoosier teacher, or a Hoosier steelworker – that’s just not right and it’s just not fair.

I had high hopes that tax reform would include policies aimed at encouraging companies to invest in American jobs and penalize companies that ship jobs to other countries. This bill has neither the carrot to encourage investment in American workers, nor the stick required to address the outsourcing of jobs to foreign countries.

I’m disappointed because this represents a real missed opportunity. I believe our country is stronger when we work together and pass legislation that focuses on the middle class. That didn’t happen here but I will continue to fight for Hoosiers to help our middle class get ahead. ​