Brady: ‘We are getting people out of the sidelines and giving them opportunity.’
by Kevin Brady on September 24, 2019 at 2:55 PM
Last week, I caught up with FOX Business’ Neil Cavuto to talk about trade, taxes, and the current state of the American worker.
CLICK HERE or the photo above to watch the full interview.
On Democrat Efforts to Raise Taxes
They are trying to attack our tax reforms and our re-regulation because it is working for the American public. It is certainly working for the economy. Look, we lifted 1.5 million people out of poverty last year. What I love is that now most new hires for working-age people in America are people of color. We are getting people out of the sidelines and giving them opportunity.
[Democrats] had an opportunity to join us, they failed. So now all I’m seeing is just crazy ideas on the tax side.
Much of what we did in the tax reforms was to change location decisions – where businesses put their plants, their patents, do their research. We’re just now finishing many of the rules and regulations that go with that. The reason I always say that the best part of tax reform is yet to come is because that will significantly impact where those new manufacturing and research plants are – they are going to be in the United States.
On Continuing to Grow our Economy
I think there are many days where Wall Street is disconnected from the average economy.
Our biggest challenge our businesses still tell us they have is workforce – they just cannot find the workers they need. So, what would you call this downturn, the ‘Help Wanted’ recession? Never before have we had such an urgency for labor.
The growth is there. I’m convinced that if we pass the USMCA this fall, and the President resets and redesigns that relationship with China, I think we’re at 3 percent growth or more.
We lowered the rate to 21 percent and redesigned the whole international code to be more competitive. Since we’ve done that, five countries have already lowered their corporate rate, some below us. This is competition. And having the most innovative and one of the most competitive tax codes on the planet is hard work. And we’re going to have to continue that work going forward. But going backward on that, look, it’s going to cost us jobs, manufacturing, patents and innovation.