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Hatch Praises Final Senate Passage of First Tax Overhaul in More Than 30 Years
Sweeping Tax Reform Package Will Increase Take-Home Pay for Middle-Class Families, Equip American Tax Code for 21st Century
WASHINGTON – Tonight, Senate Finance Committee Chairman Orrin Hatch (R-Utah) hailed Senate passage of the House-Senate conference committee report for H.R. 1. The comprehensive tax reform bill will give the typical family of four earning the median family income of $73,000 a tax cut of more than $2,000.
Hatch issued the following statement:
“Tonight’s vote in the Senate marks a pivotal moment in American history. For the first time in more than three decades, we cleared a comprehensive overhaul of the nation’s tax code and delivered on our promise of creating and advancing pro-growth policies that will lift the economy and build a better future for the American people. It also repeals Obamacare’s burdensome and regressive individual mandate tax – dismantling a major aspect of the damaging law.
“With this legislation, we maintained our commitment to creating a tax code that is based in simplicity and fairness. We’re lowering rates across the board for the American people. We’re ensuring businesses, both small and large, can better compete and bring more jobs and investment back home. And, we’re remaking the tax code in way that will allow more individuals and families invest in their future. We should all be proud of this historic moment, which puts us a stone’s throw away from helping hardworking Americans get bigger paychecks, better jobs and fairer taxes.”
Hatch, as chairman of the Senate Finance Committee which has jurisdiction over tax policy, is one of the chief architects of the tax reform overhaul. For more information, visit: finance.senate.gov/taxreform.
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