As chairman of the Finance Committee, with exclusive Senate jurisdiction over taxes, Sen. Chuck Grassley led through Congress $2 trillion in bipartisan tax relief, leaving more money in workers’ pockets, reducing tax rates across the board, and spurring economic growth and activity. Congress later made permanent the vast majority of the Grassley-led measures with significant bipartisan support. Grassley, now a senior member of the Finance Committee, made the following comment on the tax reform and relief framework announced today.
“A major undertaking like tax reform takes the bully pulpit of the presidency to start a debate with Congress and the American people. President Trump deserves credit for making tax reform and relief a priority. The framework released today shows Congress is committed to fulfilling its role as the legislative branch of government. Next, the committees of jurisdiction will do the work to fill out the details of the framework and pass legislation that will get to the President’s desk. Our current outdated tax code puts U.S. businesses at a disadvantage in the global economy. Tax policy ought to help put U.S. job creators at the front of the pack. Small businesses create most new jobs. The framework would increase their opportunity to do that. For farmers and family businesses, the framework would repeal the estate tax. That’s a matter of fairness to those who have lived frugally and invested every penny in their land or business. They shouldn’t be penalized for that. For individuals, I’ve never met anybody who wants to spend more time or money doing their taxes. We should do everything we can to put taxpayers in the driver’s seat of how they use more of their own money.”