Walorski: Tax Reform Will Boost Job Creation, Help Hoosier Families

Statement

U.S. Rep. Jackie Walorski (R-Ind.) today in a House Ways and Means Committee hearing examined how pro-growth tax reform would strengthen the Indiana economy, boost job creation, and help Hoosier families keep more of their hard-earned money.

"I am grateful to represent Indiana's 2nd District, one of the largest manufacturing districts in the country," Congresswoman Walorski said. "We have a lot of manufacturers and farmers, a lot of moms and dads that are just trying to pay bills and get their kids through school and through college. But I've heard from so many CEOs in my district that the American economy has succeeded in spite of our tax code. It hasn't helped it."

Walorski pointed to the positive impact a simplified tax code and lower rates would have on northern Indiana businesses like Smoker Craft, a boat manufacturer in New Paris, Ind. She cited Peter Barrett, a senior vice president at Smoker Craft, who said tax reform would allow the company to grow and create jobs.

"He said that tax cuts will allow his company to hire more workers, raise wages for their 600 employees, create new training programs, expand their plant, and make new capital equipment purchases," Walorski said.

A recent report by the nonpartisan Tax Foundation found the House Republican tax reform Blueprint would lead to the creation of nearly 1.7 million new jobs nationwide -- including more than 36,000 in Indiana -- and increase take-home pay for middle-income Hoosier households by more than $4,500 per year on average.

House Republicans in 2017 unveiled their Blueprint for simplifying the tax code, lowering rates on individuals and families at every income level, and delivering the lowest rates in modern history for job creators of all sizes. The House Ways and Means Committee now is working with the Trump administration and the Senate toward an agreement on tax reform legislation.

Today's hearing, entitled "How Tax Reform Will Grow Our Economy and Create Jobs," was a major step as the committee continues working toward permanent, comprehensive tax reform. Another hearing on tax reform has been announced for Tuesday, May 23. Since 2011, the committee has held more than 40 hearings on tax reform. Witnesses included:

John J. Stephens, Senior Executive Vice President and Chief Financial Officer, AT&T Inc.

Zachary Mottl, Chief Alignment Officer, Atlas Tool Works, Inc.

David N. Farr, Chairman and Chief Executive Officer, Emerson Electric Co.

Douglas L. Peterson, President and Chief Executive Officer, S&P Global Inc.

Steven Rattner, Chairman, Willett Advisors LLC

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