Thune: Senate Republicans to Deliver Historic Wins for the American People

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WASHINGTON - U.S. Senate Majority Leader John Thune (R-S.D.) today spoke at a press conference with Senate Republican leadership:

Thune's remarks below (as delivered):

"We have received, as you know, from the House, a budget reconciliation bill.

"The Senate, now, Finance Committee has completed its portion of it, and it was released, the text was, last night.

"We believe it leads to a stronger and more prosperous America, and so we are excited to get this bill out and on the floor.

"I want to applaud the members of the Senate Finance Committee, and particularly Chairman Mike Crapo, for the yeoman's work that he did to ensure that this product got out there.

"Everybody's had a chance now to look at it, but we're excited about what it does for a number of reasons.

"And it does create permanence in a lot of areas of the tax code.

"It makes permanent the 2017 Tax Cuts and Jobs Act rates.

"It makes permanent the expanded child tax credit and increased standard deduction.

"It makes permanent a lot of the business tax deductions, which will lead to growth and expansion in the economy and better-paying jobs.

"And, of course, it includes many of President Trump's promises on the campaign trail, including no tax on tips, no tax on overtime, and reduced taxes for seniors.

"And on the business side, we believe that making permanent a lot of the business tax provisions will lead to that growth in the economy that will create those better-paying jobs and lead to a stronger and a more prosperous country.

"And obviously, if you look at what happens if we don't do this, the alternative isn't a pretty one.

"I don't think it's a universe that anybody wants to live in, because it means a $4 trillion tax increase at the end of the year on the American people.

"2.6 trillion of that tax increase will fall on families making less than $400,000 a year and $600 billion of that tax increase would hit small businesses.

"That's the alternative if we don't take steps to act.

"It also includes a number of reforms and strengthens Medicaid in a way that makes it stronger and gets it back to what it was designed to do and for the people it was intended to benefit."

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