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Moran calls tax reform 'step in right direction'

Posted at 9:43 PM, Oct 19, 2017
and last updated 2017-10-19 22:43:06-04

WASHINGTON (AP) -- U.S. Sen. Jerry Moran (R-Kan.) called the tax reform bill passed in the Senate Thursday a major step in the right direction to "empower' Americans.

Republicans on Thursday muscled a $4 trillion budget through the Senate in a major step forward for President Donald Trump's ambitious promise of "massive tax cuts and reform.

The 51-49 vote sets the stage for debate later this year to dramatically overhaul the U.S. tax code for the first time in three decades, cutting rates for individuals and corporations while eliminating trillions of dollars of deductions and special interest tax breaks.

Moran (R-Kan.) issued a statement after the vote praising the plan:

“Our tax code should work for American families, not against them. Kansans know how critical tax reform is to their ability to find quality jobs, start small businesses, or pay for household items and utility bills every month. In the more than 30 years since we last passed major tax reform, the national and global economies have changed dramatically. We must adapt as well by establishing a fairer and simpler tax code to empower American individuals to succeed and American businesses to compete. Today’s budget vote is the first legislative step in the right direction, and I look forward to continuing to work with Kansans, the Administration and my colleagues in developing this legislation.”

The tax cuts would add up to $1.5 trillion to the deficit over the coming decade, however, as Republicans have shelved fears about the growing budget deficit in favor of a once-in-a-generation opportunity to rewrite tax laws.