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Tax reform: Starting place for jobs, growth

The Hill

Friday, December 9, 2016

If there was one broad issue that both Democrats and Republicans agreed on during this year’s divisive election, it is the necessity of tackling the highest priority for the American people: jobs and economic growth.

We all can agree that the economic policies of the past are not addressing the anxieties of the future. The emotions Americans are feeling are rooted in the reality that real income is down while the cost of living is up as indexed to inflation.

We should forge a bipartisan accord on investments in our nation to jumpstart job creation. What is required are strategies to sustain economic development and expand economic opportunity for all Americans.

We all can agree that the economic policies of the past are not addressing the anxieties of the future.

An optimal place to begin is where the two sides have already indicated a desire for action: tax reform that allows our companies to compete more strongly in the global marketplace.

That is why the four of us decided to co-chair the Bipartisan Policy Center’s American Competitiveness and Job Creation Tax Initiative, so that we can find ways in which the tax code can more effectively drive economic growth and employment.

With the new Congress, Republicans will now control the White House and both houses of Congress. There has been discussion of possibly using a budgetary mechanism, little known outside Washington, called “reconciliation” to implement tax reform. This method would allow the majority to bypass the 60 votes typically necessary to forestall filibusters and pass major legislation in the Senate.

KEYWORDS: 115TH CONGRESS, BPC OP-EDS, GEORGE MITCHELL, OLYMPIA SNOWE