In The News
Infrastructure should be bipartisan. Making the dollars work is Congress' obligation. Be creative. Create dozens of different revenue streams, and make it more efficient to be able to get needed projects and needed repairs out of the ground faster and more efficiently.
Yesterday evening I discussed the math behind tax reform and why Americans should expect a significant increase in economic growth. According to projections done by the Congressional Budget Office (CBO) labor force participation is increasing and with the passage of our historic tax reform legislation it will surpass projections.
We need to start to look at medicare, medicaid, and what is happening to some of the trust funds. We should start planning how were going to shore those up and how to stabilize- and these are huge issues.
We actually have a birth rate crisis in the United States. We're not having enough children and programs like social security and medicare are pay as you go programs. So, in about 18-20 years we don't have enough young workers moving into the workforce.
Mandatory spending entitlements are two thirds of our spending. Our goverment is consumed by paid for entitlements. So, coming up with the cash, the ability to finance infrastructure, we're going to have to look to a lot of those additives in your "cauldron." And, some of it is- are there federal assets that can be sold or released? Are there bonds? Are there joint partnerships?
I believe the tax bill, the tax reform, is fair to individuals. It is simpler. It is going to also deal with the hemorrhaging we have of corporations, and these are big corporations, leaving our country, hiding their profits overseas and moving their expenses to the US...This is not a win for Republicans - it is a win for society.
I believe that we are faced with the opportunity of a generation. We have both the chance and the immense responsibility of rewriting our broken tax code to spur economic growth, make the tax system fairer for the average American family, and more competitive for our small businesses.
...The difficulty for many of us on the Ways and Means Committee as we are grinding out, making the math work... If you look at things like the tax foundation and other non partisan groups, this is going to be really good for the economy. It is also going to be really good for the hard working middle class.