Cornyn on Fox: Senate Tax Reform Brings Companies Jobs Back to U.S.

We want to provide every incentive to bring that money here to make those investments here and to create jobs here. Texas Insider Report: WASHINGTON D.C. Today U.S. Senator John Cornyn (R-TX) appeared on Fox News Your World with Neil Cavuto to discuss the Senate Finance Committees markup of tax reform legislation. Excerpts from his appearance are below and video can be found here. Repealing the regressive individual mandate tax which is primarily paid by low-income Americans does provide additional revenue for us to use to bring down middle class tax rates." We can make the individual tax cuts permanent if our Democratic colleagues would join us in trying to pass a bipartisan bill but they made it pretty clear that they have no interest in that so were stuck with just doing it for the ten-year budget window using this process." We do provide a tax rate cut. And youre right we do repeal the deductibility of state and local taxes… If we can by eliminating the state and local tax deduction we can get rates lower and the economy going again then everybody benefits." What were told is that because of lower tax rates in countries like Ireland that this is causing those companies to move their headquarters offshore and make investments there… We want to provide every incentive to bring that money here to make those investments here and to create jobs here."