The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
“TAX REFORM” mentioning the U.S. Dept of Labor was published in the Senate section on pages S1325-S1326 on March 5, 2018.
The Department provides billions in unemployment insurance, which peaked around 2011 though spending had declined before the pandemic. Downsizing the Federal Government, a project aimed at lowering taxes and boosting federal efficiency, claimed the Department funds "ineffective and duplicative services" and overregulates the workplace.
The publication is reproduced in full below:
TAX REFORM
Mr. McCONNELL. Mr. President, on one final matter, it has been 73 days since President Trump signed historic tax reform into law.
It feels as though it has been longer than that because, practically every day, another major national employer announces a new commitment to invest in American workers because of tax reform. Every day, we hear about more local businesses realizing new savings and putting it toward equipment, expansion, and employees. Every day, we hear about how bonuses, rising wages, expanded benefits, and lower taxes are giving middle-class families a whole lot more breathing room. Yet, every day, we are reminded that some of our friends across the aisle are still desperately trying to minimize this good news. Democratic leaders have tried to say that these new jobs, raises, bonuses, and business expansions amount to no more than ``crumbs.''
I leave the final verdict to the hard-working families across the country, including the many Kentuckians from whom I hear. In the meantime, the economic data are painting quite an optimistic picture.
Last week, the Labor Department announced that weekly jobless claims had reached a 48-year low. Let me repeat that. Fewer Americans are filing for unemployment today than at any time since 1969. The labor market is tightening; employers are competing for talent; and workers and their families are coming out on top.
In January, Americans' real disposable income rose more quickly than it had since April of 2015. That is the biggest jump in spending money available to American families, accounting for tax rates and inflation, in nearly 3 years. That is more money to save for a home purchase or a college fund. It is more to save for retirement or to spend on a family vacation. U.S. consumer confidence is higher today than it has been since the year 2000, and, last week, news broke that U.S. manufacturing is expanding at its fastest pace since 2004.
Look, it is not complicated. The bill passed by the Republicans in Congress last year was designed with a very simple philosophy in mind: that when we put more of Americans' hard-earned money back in their own pockets, they will know what best to do with it, that when we level the playing field and take weight off the shoulders of small businesses, they will help their communities thrive, and that when we welcome investment from entrepreneurs and job creators, instead of discouraging it, the economy will respond in kind.
The idea was simple enough, but as we are already seeing, because the Republicans in Congress and the President were able to overcome lockstep partisan opposition on the other side and get tax reform across the finish line, that simple idea is having an extraordinary impact.
____________________
