Skip to content
The Times USA
Menu
  • ABOUT
  • CONTACT
  • LIFESTYLE
  • NATIONAL NEWS
  • BUSINESS
  • INTERNATIONAL NEWS
  • TECHNOLOGY
  • PRICE OF BUSINESS SHOW AUDIOS
Menu

Senior House Republican Challenges Democrats’ Conventional Wisdom on Taxes

Posted on February 11, 2020 by admin

The leading Republican on the powerful House Ways and Means Committee Kevin Brady (R-TX) delivered the following opening statement at a full committee hearing on corporate income taxes.

CLICK HERE to watch the hearing.

Remarks as prepared for delivery:

“Thank you, Chairman Neal.

“The whole premise of this hearing is false.

“Corporate taxes aren’t disappearing, they are growing – more than 12% last year. And according to CBO, corporate revenues are set to rise over the next decade both in real dollars and as a percent of GDP.

“The claim that corporations shoulder a smaller burden in the U.S. than in other countries is also misleading because most U.S. businesses – 95% – file as individuals, or ‘pass throughs,’ that aren’t traditional corporations.

“The crazy claim by Joe Biden and others that ‘all of the tax cuts went to folks at the top and corporations that pay no taxes’ was dismissed as ‘false’ by Factcheck.org.

“Failed presidential candidate Beto O’Rourke claimed the GOP Tax Cuts were ‘a two-trillion dollar tax cut that favored corporations.’ Washington Post slammed that as ‘not correct,’ noting that three out of every four dollars of the Republican tax cuts went to individuals and small businesses.

“And, of course, the oft repeated claim by Senator Bernie Sanders that ‘in the Republican tax bill, 83% of the benefits went to the top 1%’ was described as ‘misleading’ by PolitiFact.

“Incredibly, Democrats desperately try to claim responsibility for the remarkable economic boom under President Trump, insisting this is the result of a successful Obama economy.

“But to use President Obama’s own words, ‘you didn’t build this,’ because job growth is 3.2 million greater than projected, and the GDP is $266 billion larger than projected before the GOP tax reform.

“The Obama economic recovery was the slowest on record. Paychecks were flat, jobs and headquarters flowed overseas, consumer confidence was down, and small business optimism was nonexistent while food stamp and disability rolls exploded.

“Remember the ‘Summer of Recovery’? The vaunted ‘Stimulus’?

“Neither do economists, because they failed to jumpstart America’s economy due to a regulatory onslaught that choked our economy—especially for blue-collar workers.

“And ‘inversions’—companies leaving America—seemed like a monthly occurrence.

“Thanks to a unified Republican Congress and President Trump, we rewrote America’s outdated and uncompetitive tax code for the first time in 30 years. We created a tax code ‘built for growth’—the growth of jobs, paychecks, and the American economy.

“We let working families keep more of their money. Doubled the standard deduction. Increased the child tax credit and expanded it to millions of more families. And created a first-ever small business deduction to help Main Street businesses thrive.

“We lowered the corporate tax rate from the highest among our competitors to a more competitive 21%. And we redesigned the tax code so our businesses could compete and win anywhere in the world – especially here at home.

“As a result, we have more people working and higher wages in one of the most competitive economies on the planet. American manufacturing is back, and workers who were left behind in the Obama economy are coming off the sidelines and into good-paying jobs.

“Women, and especially women of color, are winning the jobs race for the first time in memory.

“Economic deniers refuse to accept these real results for working families, especially the poor and minorities left behind by the Obama administration.

“And in a newfound love for fiscal responsibility, they’ll recycle these tired lines: Like ‘Republicans run up the deficit with tax cuts so we can cut Medicare and Social Security later.’ And ‘all the tax cuts went to stock buybacks.’

“But with record and near-record revenues flowing into Washington, as FactCheck.org reminded Mayor Pete when he claimed the tax cuts were driving the nation’s debt, CBO confirms that spending is largely responsible for the nation’s debt.

“And what’s wrong with companies bringing back profits from overseas and investing in their own company, raising stock prices and improving the 401k’s of their workers and retirement plans across America who have invested in them?

“Our economy has created 3.2 million more jobs than projected before tax reform with one million more job openings than available workers.

“And income equality is declining in all measures for the first time in decades, according to the Current Population Survey.

“Wages are up last year 5.2% for workers in the bottom tenth of income versus a mere 1.9% for the upper 10%. That means $3,550 more a year for low-income workers.

“Wages are up more for ordinary workers than supervisors, more for African Americans than Caucasians, up more or bachelors than advanced degree holders.

“According to the CEA, since 2016, wealth for the bottom half is up a whopping 47%, while the top 1% is up a mere 13%.

“But it is impossible to get our debt under control when House Democrats refuse to even put a budget forward.

“And it’s even harder to take Democrats new alarm for fiscal discipline seriously when every Democrat vying for the White House is calling for trillions of dollars in new taxes and hundreds of trillions new spending.

“Rather than vilifying American businesses for political gain, Republicans are eager to build on the success that working families in America are finally seeing after years of disappointment and struggle under Democrats in the White House.

“And today could be an opportunity to debate the best ways how.

“The key to continue increasing our revenues is through making the tax cuts permanent which will create 1.5 million new jobs and lock in the gains for working families.

“We need to sell more ‘Made in America’ products around the world through increased trade, and Main Street businesses are desperate for more workers.

“Those are the challenges this Committee should be focused on today.”

You Might Also Like...

  • Senior House Republican Makes Case for Improved Retirement Security

    The top Republican on the House Ways and Means Committee Kevin Brady (R-TX) delivered the…

  • The Democrats and the Quest for the White House in 2020

    By The Price of Business Show, Media Partner of TTU Lee Kaplan, who is a…

  • Senior Republican in the House on the Markup of Healthcare Legislation

    The top Republican on the House Ways and Means Committee Kevin Brady (R-TX) delivered the…

  • Senior House Republican Takes Pelosi to Task Over Drug Cost Bill

    Today, the top Republican on the House Ways and Means Committee Kevin Brady (R-TX) released…

  • House GOP Ready to Challenge Democrats on "Medicare for All"

    Republicans are confident that they can win the "Medicare for All" debate. "Medicare for All"…

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

VIDEO: This Week’s Best of our Network

https://www.youtube.com/watch?v=Ll2bl4WBL3o

GDPR Compliance

USABR does not collect data on its visitors.  For more information visit: https://www.usabusinessradio.com/contact-us/

Contact

Contact articles@usabusinessradio.net for more information on articles on this site. BMuyco@usabusinessradio.net for all other information.

Recent Articles

  • Former GOP Nominee of US Senate Warns Trump on Potential Diddy Pardon
  • A Strategic Approach to Succession Planning: Training the Next Generation of Leaders
  • Three Ways To Seize the Helm of Your Life
  • Uncertainty Is Not the Enemy
  • Why Trump’s 2025 Birthright Citizenship Order Faces Legal Hurdles

Also in TTUSA

  • Break Free From the Couch Trap: Why Prolonged Sitting Could Be Harming Your Health
  • Supplement Talk: Should You Consider Taking Testosterone Boosting Supplements?”
  • Figuring Who is Running for the Democrat Nomination Just Got Easier
  • Online Roulette Win Real Money – Online slot machine and online slots game: play now
  • What Do You Need To Retire in Panama?

RSS The Daily Blaze

  • The Six-Second Rule To Overcome Amygdala Hijacking
  • Prohibited Access
  • Former White House Economist on EV Policies in Europe vs. USA
  • Explore the Benefits of Ready-To-Move Homes
  • “Operation Spiders’ Web Potentially Changes Warfare Forever

RSS USA Business Radio

  • Reagan vs. Trump on the Economy
  • Drop Your Long Term Care Insurance Policy or Negotiate?
  • Do Nationwide Injunctions Need Reform?
  • Why Great Leaders Must Master the Art of Feedback
  • Former CBS TV Exec on Donald Trump and His Media Critics

RSS USA Daily Times

  • Luxury Travel in Hawaii and the South Pacific
  • Sail the World and Write Your Travel Story
  • From Isolation to Inspiration: How Music for Mental Health Is Healing the Loneliness Epidemic
  • Modern Security Myths That Keep Circulating About Keyless Locks
  • Caregivers: Smart Advocacy by Understanding Research Costs

RSS USA Daily Chronicles.

  • Fortify Your Front Door With the Right Lock
  • David H. Souter, Retired U.S. Supreme Court Justice, Dies at 85
  • 3 Enlightened Things You Need To Know if You Feel Like You’re Losing Your Mind
  • Let’s Prevent Child Abuse Every Month
  • Bringing Resilience and Simplicity Into Life With MS

RSS Price of Business

  • Understanding the Importance of Vehicle Insurance in Ireland
  • Interview With Mark Walmsley, Founder of the Arts and Culture Network
  • Prohibited Access
  • Reagan vs. Trump on the Economy
  • Essential Houston Plumbing Tips Every Homeowner Should Know

RSS US Daily Review

  • How Brain-Based Programs Support ADHD Treatment in Baltimore
  • Top Countries Gaining From the Foreign Student Exodus in 2025
  • What’s Next for the House’s Budget Bill?
  • Former NBC Dateline Contributor New Series on the Price of Business Show
  • Why Mold Services in Tampa Are Essential for Every Homeowner

PoB Digital Network

US Daily Review

USA Business Radio

USA Daily Chronicles

USA Daily Times

The Daily Blaze

The Times USA

Price of Business

© 2025 The Times USA | Powered by Superbs Personal Blog theme