As chairman of the Finance Committee, with exclusive Senate jurisdiction over taxes, Sen. Chuck Grassley led through Congress $2 trillion in bipartisan tax relief, leaving more money in workers’ pockets, reducing tax rates across the board, including the first-ever 10 percent lowest bracket, and spurring economic growth and activity. Congress later made permanent the vast majority of the Grassley-led measures with significant bipartisan support. Grassley, now a senior member of the Finance Committee, is involved in current tax reform discussions. He made the following comment on the joint statement on tax reform today from House and Senate and executive branch leaders.
“One of the biggest goals of reforming the federal tax code is job creation. Companies make decisions based on their bottom line, so it’s up to us as lawmakers to create conditions that are likely to encourage job creation in Iowa instead of India or China. Small businesses are responsible for a majority of net new jobs since the 1970s, yet some small businesses experience tax rates exceeding 40 percent. This burden should be lifted. Another key goal is lowering individual tax rates and making the tax code simpler and fairer. People generally should have the choice to use more of their money as they see fit. I look forward to continuing to listen to Iowans on their ideas for tax reform in the weeks ahead.”
