Thursday evening, the U.S. Senate voted to pass a budget resolution that paves the way for comprehensive tax reform. The 51 to 49 vote was split on party lines, with Kentucky Senator Rand Paul being the only Republican to vote no.
The Kentucky Chamber is vocal advocate for tax reform that will improve the competitiveness of the U.S. and lessen the tax burden of businesses thereby encouraging more investment and jobs in Kentucky and the nation as a whole. After the vote, Senate Majority Floor Leader Mitch McConnell released the following statement:
“Tonight we completed the first step towards replacing our broken tax code by passing a comprehensive, fiscally responsible budget that will help put the federal government on a path to balance. This budget also gives us the tools we need to strengthen our economy after years of stagnation under the previous administration. We have a once-in-a-lifetime opportunity to replace a failing tax code that holds Americans back with one that actually works for them. To middle class families across America, we have a simple message: we want to take more money out of Washington’s pockets and put more in yours.”
“Now, with this budget, we are on the path to delivering much-needed relief to American individuals and families who have borne the burdens of an unfair tax code for entirely too long. I want to thank Chairman Enzi, the Members of the Budget Committee, and its staff for their extraordinary work on this budget.”