Toomey Statement on Committee Passage of the Tax Cuts & Jobs Act
Pro-growth tax reform maximizes growth of the American economy and gives tax cuts to middle income families.
WASHINGTON, D.C. - U.S. Senator Pat Toomey (R-Pa.) issued the following statement on the Senate Finance Committee's passage of the Tax Cuts and Jobs Act:
"I am very excited about the product we now have. Hardworking families I represent in Pennsylvania are going to benefit from this bill in two ways. First, they're going to owe less to Uncle Sam because this bill will cut their taxes. The second way they will benefit is from the acceleration in economic growth we'll have after making the industrialized world's worst business tax code into one of the best. This bill will spur significant new investment, business expansion, and new business startups, leading to more jobs, higher wages, a better standard of living for more Pennsylvanians.
"Passage out of committee was a big step towards our goal of enacting pro-growth tax reform, and could not have been achieved without the steadfast leadership and guidance of Chairman Hatch. I look forward to moving this bill to the Senate floor soon so hardworking families get a big tax cut and American businesses are globally competitive once again."