In response to President Trump's speech last night, NTU President Pete Sepp commented, "Last night, President Trump spoke passionately about the need to 'restart the engine of the American economy' – through pro-growth tax policies, relief from burdensome regulations, replacing Obamacare with a fiscally responsible alternative, and controlling the growth of the federal bureaucracy. Although the President and Congress have taken some steps toward these goals, now is the time for our nation's leaders to more effectively translate words into deeds.
House Speaker Paul Ryan and Ways & Means Committee Chairman Kevin Brady have offered a solid blueprint that simplifies the tax code, lowers both the individual and corporate rates, and removes many of the financial obstacles employers face to doing business abroad. The process to develop detailed legislation that becomes law will involve patient negotiation and deliberations – but it will also take leadership on both ends of Pennsylvania Avenue to ensure this process isn't shut down by those with agendas that effectively perpetuate the status quo.
Meanwhile, the House has already taken the initiative of passing the REINS Act in order to tame unaccountable regulatory rampages. The Senate should follow suit quickly. At the same time, both the White House and Congress should address other fiscal realities, among them the need to overhaul our unsustainable entitlement programs and bring all categories of federal spending under control.
The challenges and opportunities for taxpayers that existed prior to the President's speech grow more urgent with each passing day. Tax, budget, regulatory, and health care reforms are a winning combination for our nation's economic future. As such, it's vital Republicans and Democrats come together in a show of bipartisanship and make them a reality."
