U.S. Senate Majority Leader Mitch McConnell (R-KY) issued the following statement on the Tax Cuts and Jobs Act conference report that was released today:
“First and foremost, I would like to congratulate the members of the Senate and the House who worked tirelessly to reconcile the differences between the two tax bills. What they have accomplished is critical for the future of our country – and that is no understatement. After 31 years, it’s about time.
“For too long, America has struggled to compete in an increasingly competitive world. For years, jobs and businesses have left our country. Meanwhile, middle-class families struggled to get by. For years, our nation suffered under an economy that failed them with lack luster economic growth and under a system that rewarded the few at the expense of the many.
“That’s changing with this legislation. China is already worried about this tax bill, because they know it will make America more competitive and spur greater investment here in America. This legislation will bring real relief to the middle class by taking money out of Washington’s pocket and putting it into theirs. It means a tax cut of more than $2,000 for a family of four earning $73,000. That’s real money in communities across Kentucky – from Paducah to Pikeville. And only those who don’t know the struggles of hardworking American families could conclude otherwise.
“Next week, the Senate will get this bill done so we can ensure the American people get the gift of real, meaningful tax relief this holiday season.”