Ways and Means Committee member Adrian Smith (R-Nebraska’s 3rd District) addressed Americans for Tax Reform’s annual pre-Tax Day press conference, hosted by Grover Norquist.
In his remarks, Smith highlighted the Republican tax law’s impact on economic growth and wages.
“We are seeing this economic growth in a way that’s substantive, it is meaningful, and workers are benefiting, our economy is expanding, and I think that’s good news in and of itself,” Smith said.
Smith also noted that the Tax Cuts and Jobs Act included important tax cuts on both the corporate and the individual side.
“And as we do sort through all of this, I think it’s important to note that even President Obama said we needed a lower corporate tax rate,” Smith said.
“But we Republicans were not going to pass a corporate tax cut and not give individuals tax relief as well. That’s why we doubled the standard deduction, that’s why we doubled the child tax credit, and really empowered workers.
“The whole bill created upward pressure on wages. That’s going to do far more for workers than a group of politicians thinking they can come up with new regulations.”
For more economic good news from Smith’s home state of Nebraska, click here.