This Budget Paves the Way for Tax Reform and a Brighter Future for Middle-Class Families
WASHINGTON— Oct. 4, Congressman Pat Tiberi (R-OH), chairman of the Joint Economic Committee, spoke in support of H. Con. Res. 71, the FY2018 Budget Resolution, which balances within 10 years and provides reconciliation instructions for tax reform.
The following are key excerpts from his floor remarks:
“Mr. Speaker, we’re making a choice today about the kind of future we want.
“We can choose a future of more deficits and more debt. We can continue having a weak economy where people in their prime working years keep leaving the job market.
“We can choose a future where America’s job creators decide they’ll be better off starting or moving their business overseas. And if we choose this future of more of the same, it’s not the wealthy who will suffer.
“It’s the most vulnerable, low-income Americans trying to climb out of poverty. It’s the middle-class families who find it harder and harder to get ahead—people like my dad, a retired steelworker. And, it’s our children and grandchildren, who will have to pay tomorrow for the mistakes we make today.
“We can instead choose a better future where the government learns to live within its means and moves toward balanced budgets.
“A future where job-creating small businesses aren’t punished by the tax code when they succeed, where we stop losing jobs and businesses to foreign countries with lower tax rates, where workers can finally get the pay raises they deserve, and where prosperity is widespread and not concentrated in a handful of large cities.
“[This budget] paves the way for a world-class tax code built for growth—a better future.
“Yesterday the Joint Economic Committee held a hearing on the decline in business startups—the engines of job growth and innovation—and the role tax reform could play in reversing the downward spiral.
“Among other things, here’s what we heard: First, simplify the tax code. Entrepreneurs spend way too much time and money complying with the tax code instead of focusing on growing the business.
“Second, lower the tax rates our companies pay. That’s something foreign governments have already done to attract businesses.
“Third, let companies of all sizes write off the cost of their growth-producing investments immediately—called “expensing”—instead of deducting them slowly from taxes over many years under complicated depreciation rules.
“Fourth, stop punishing our companies for investing overseas profits back in America. Move away from our worldwide system of taxation to the territorial system of nearly all other countries.
“These steps will boost economic growth. Growing markets will give entrepreneurs the confidence to risk starting a business. More startups create more jobs—an average of six new jobs per startup—and more economic growth. The cycle continues and spreads prosperity.
“I’m happy to report that these recommendations are a large part of our tax reform framework: simplicity, lower tax rates, expensing, a territorial tax system that rewards investment in America, and boosting economic growth.
“Mr. Speaker, we have a choice to make. We could turn our backs on the most vulnerable Americans and doom them to more of the same: sub-par growth, more debt, less opportunity, and a complex, outdated tax code that punishes job creation and investment in America. I hope we choose a better future, and the first step is voting for this budget.”
Tiberi Statement on USITC Vote in Favor of Whirlpool Workers
FOR IMMEDIATE RELEASE | October 5, 2017 | Tiberi.House.Gov | https://goo.gl/6L2rvp
WASHINGTON— Congressman Pat Tiberi released the following statement praising the U.S. International Trade Commission’s unanimous vote determining that a surge of large residential washer imports from Samsung and LG has seriously injured American manufacturers and workers. The vote was part of a section 201 safeguard petition Whirlpool Corp. filed earlier this year to stop Samsung and LG from repeated country hopping to evade U.S. trade laws. In response to today’s favorable ruling, Tiberi released the following statement:
“When our trade laws are strictly enforced, that provides the right incentives for American manufacturers to keep investing in the American worker. So I am pleased that after my testimony in September, the USITC unanimously voted in favor of Whirlpool and their ability to compete on a level playing field against global competitors. This is good news for the 10,000 Ohioans who work for Whirlpool and a big win for American-made products.”
On September 7, 2017, Tiberi testified before the USITC and urged them to vote in favor of Whirlpool workers in Ohio. The following was his testimony:
“Chairman Schmidtlein, Vice-Chairman Johanson, and Members of the Commission.
“It is an honor to appear today along with Senators Rob Portman and Sherrod Brown. I’m here to support Whirlpool’s petition for global safeguard relief on large residential washers.
“Whirlpool has 10,000 workers in the Ohio communities of Findlay, Marion, Ottawa, Greenville, and Clyde. It is a company that takes pride in American manufacturing, employing 25,000 workers nationwide and supporting tens of thousands of additional jobs in its supply chain. If you go to a home appliance store and look at the fantastic appliances made by Whirlpool, you’ll see a red, white, and blue sticker that proudly says “Designed, Engineered, and Assembled in America.” There could not be a better model for American manufacturing.
“A key part of Whirlpool’s American manufacturing footprint is in a small town in north central Ohio, just down the road from Sandusky. Whirlpool has 3,000 dedicated employees at the Clyde facility, where they produce high-quality, innovative washers. That facility is the lifeblood of the Clyde community and the communities that surround Clyde, from which Whirlpool sources component parts and raw materials like steel from other American manufacturers.
“I do not need to tell you, but trade is a front-page topic these days. Companies are reinvesting in America, which is something Whirlpool never stopped doing.
“This reinvestment in America hinges upon fair trade. All producers — whether domestic or foreign — need to follow U.S. trade law. When it comes to washers, Samsung and LG have engaged in a pattern of unacceptable trade practices. These companies have been shipping unchecked volumes of washing machines into the United States from multiple export platforms over the last few years. This surge in imports has been fueled by Samsung and LG’s “country-hopping” to evade country-specific antidumping orders every step of the way. High volumes of imports — imports that this Commission has already found to have been unfairly traded — have eroded the domestic industry’s financial performance and have turned a winning decision to manufacture in the United States into a losing one.
“Samsung and LG’s “country hopping” behavior is extremely frustrating. But with an effective safeguard remedy in place, if Samsung and LG want to relocate their manufacturing again to avoid trade measures, the only place they can go is here, to America. I have seen some articles indicating they are opening facilities in the United States. From my point of view, if this safeguard case ensures they actually move to the United States and they actually make washers here, it would be a great result for America, and finally allow all washer producers to compete on a level playing field.
“On behalf of American workers who are trying to compete and win here in the United States, I am asking you to fairly consider the facts in light of the legal requirements under Section 201. Given what this Commission has found in prior cases, there can be no doubt that the domestic washers industry is seriously injured and the cause is from the substantial and increasing volume of imported washers. And the need for a remedy is urgent. Thank you.”