Alert

WASHINGTON – Today, U.S. Senator Roy Blunt (Mo.) held a press conference, along with members of the U.S. Senate, Small Business Administration (SBA) Administrator Linda McMahon, Small Business & Entrepreneurship Council President & CEO Karen Kerrigan, and small business owners and American workers, to highlight the importance of tax reform. Blunt emphasized that tax reform will benefit workers, and small business owners, and will allow the United States to be more competitive in the global economy.

Following is a transcript of Blunt’s remarks:

“I would say, that both of our small business representatives here today mentioned the complexity of the code. The money that is invested in just complying with the tax code. So simplification matters, how you keep the books matters as the tax code requires you, to be more competitive. And I’m standing here thinking about our bigger corporations, that in many cases largely become assembly plants for things that come from small business. In automobiles, in airplanes, the more we compete effectively around the world, and we have a tax structure now that significantly disadvantages us.

“You know, 35 years ago, or 30 years ago, 31 years ago, in 1986, when the tax code was changed, our corporate rate was right in the middle of the countries we compete with. Now it’s at the very top of the countries we compete with. Doesn’t mean it was the wrong rate for 1986, it means it’s the wrong rate for 2017 and the next 25 or 30 years. There’s a reason this doesn’t happen very often, and one of the reasons is that people who create jobs and make investments needed a maximum capacity possible to be able to rely on the tax code that is in place and know that it will be there a while.

“I think this is a tax code that the test of time is going to show exactly what needs to happen. In Missouri where I live, 97 percent of all the businesses are small businesses. The jobs created are created there. But all of that thrives, as President Kennedy said, ‘A rising tide lifts all boats.’ So the stronger the economy is here, this is not a competition between segments of the economy, it’s a competition between us and other countries. And with regulatory reform, with the rule of law you can rely on, if you have to go court to find out how the law is going to be enforced, and with good tax policy, we’ll outcompete any country in the world, and so we’re all excited about what can happen today, and then what happens over the next few days.

“As the House and Senate come together, there are things in the House bill that aren’t in the Senate bill that’ll be in the final bill. There are things in our bill that aren’t in the House bill that will be in the final bill, and I think we’re going to see a product that allows us to compete at all levels in ways we’re not allowed to compete today.”

CLICK HERE To Watch Senator Blunt’s Remarks