December 17, 2019 - Issue: Vol. 165, No. 204 — Daily Edition116th Congress (2019 - 2020) - 1st Session

[Page S7059]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         TAX CUTS AND JOBS ACT

  Mr. GRASSLEY. Madam President, this week marks the second anniversary 
of the passage of the Tax Cuts and Jobs Act--December 2017--when the 
biggest tax cut in the history of the country was passed by the 
Congress. It has been very successful.
  The reason I come to honor this second anniversary is because polls 
show that people don't realize the benefits of the tax cuts. Some of 
them even wonder: Did we get a tax cut?
  I have some appreciation for that because I spent 10 years on an 
assembly line in Cedar Falls, IA, and probably if I got a 50-cent cut 
every week, I wouldn't know until the end of the year that that added 
up to $250 more in my pocket. So under the circumstances of the working 
men and women of America, it might be difficult to know that.
  Studies show a great benefit to the middle-class families from this 
tax cut. Thanks to these historic tax cuts and reforms, Americans do in 
fact have more money in their paychecks and their pocketbooks. 
Individuals and families have more to spend or, if they want, to save 
it, and maybe a lot of people save for retirement.
  Small businesses and entrepreneurs benefit from the tax cut. They 
have more to invest in their employees and in their business 
operations, and they probably hire more Americans.
  As a result, we have experienced the longest U.S. economic expansion 
in history, higher wages, and historically low unemployment--the lowest 
since 1969.
  I am proud to say on this 2-year anniversary of the tax reform that 
it has been a resounding success.
  I yield the floor.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The senior assistant legislative clerk proceeded to call the roll.
  Mr. McCONNELL. Madam President, I ask unanimous consent that the 
order for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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