Ahead of Consideration Economists Praise Senates Tax Cuts and Jobs Act

This week well be considering the Senates version... of our Tax Cuts and Jobs Act which is the first major overhaul of our nations tax code in more than thirty years.  Texas Insider Report: WASHINGTON D.C. On the Senate floor U.S. Senator John Cornyn (R-TX) praised the tax reform proposal that passed out of the Senate Finance Committee recently and previewed the Senates consideration of the legislation.  Excerpts of Sen. Cornyns remarks are below and video of his remarks can be found here.

This week well be considering the Senates version... of our Tax Cuts and Jobs Act which is the first major overhaul of our nations tax code in more than thirty years. It cuts tax rates across the board reducing the burden on American job creators and middle-class families alike. Under our proposal its been estimated that folks back in my home state of Texas will see more than 76000 new jobs created.  Two days ago we got a letter from nine world-class experts on tax policy and economics... In that letter they praised the plans objectives to enhance the prospects of both increased economic growth and household incomes - more take-home pay. But not only that they said based on their analysis our plan is likely to achieve those objectives too.  To regain our standing in the world we need to get our financial house in order. The first step is to pass this tax reform package which will show our seriousness and determination in jump-starting our economy as a way to address our fiscal challenges. A lot is on the line this week as we debate and vote on the Senates tax reform bill.