Executive Calendar

Floor Speech

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Mr. THUNE. Mr. President, 2 years ago, when Republicans took control of the White House as well as of Congress, we promised the American people that growing the economy was going to be our No. 1 priority, and we got right to work.

Under the Obama administration, American workers and businesses faced a lot of obstacles, including burdensome regulations and an outdated Tax Code that acted as a drag on economic growth, so we immediately focused on removing burdensome regulations. Then we focused on developing a historic, comprehensive reform of our Tax Code, which was signed into law last December. Now, the Tax Code isn't necessarily the first thing people think of when they think of economic growth, but the Tax Code has a huge impact on our economy.

It helps to determine how much money individuals and families have to spend and save. It helps to determine whether a small business can expand and hire. A small business owner who faces a huge tax bill is highly unlikely to be able to expand her business or hire a new employee. The Tax Code helps to determine whether large businesses hire, grow, and invest in the United States. A large business is going to find it pretty hard to create jobs or improve benefits for employees if it is struggling to stay competitive against foreign businesses that pay much less in taxes. A large business is also unlikely to keep jobs and investment in the United States if the Tax Code makes it vastly more expensive to hire American workers.

Prior to the passage of the Tax Cuts and Jobs Act last December, our Tax Code was not helping our economy or American families. It was doing just the opposite so we took action.

We cut tax rates for American families, doubled the child tax credit, and nearly doubled the standard deduction. We lowered tax rates across the board for owners of small and medium-sized businesses, farms, and ranches. We lowered our Nation's massive corporate tax rate, which, up until January 1, was the highest corporate tax rate in the developed world. We expanded business owners' ability to recover the cost of investments they make in their businesses, which frees up cash that they can reinvest in their operations and their workers, and we brought the U.S. international tax system into the 21st century so American businesses would not be operating at a competitive disadvantage next to their foreign counterparts.

Now we are seeing the results. The economy is thriving. Our economy grew at a robust 4.2 percent in the second quarter of this year. The unemployment rate is at its lowest level since 1969--almost 50 years ago. Think about that. In other words, it has been almost 50 years since the last time unemployment was at this low level.

More than 1.8 million jobs have been created since the Tax Cuts and Jobs Act was signed into law. Wages are growing at the best rate in years, and incomes are up 4.2 percent. Businesses are bringing money back into the United States, and business investment is up--from an average of 1.8 percent before the 2016 election to an average of 10 percent so far this year. Small business optimism is at historic levels. Consumer confidence is at an 18-year high. The list goes on.

Those are a lot of stats, but they basically boil down to one thing; that is, that life is getting better for American families. Incomes are growing, and families have access to more jobs and opportunities and better benefits. That means fewer families have to live paycheck to paycheck, that an unexpected car repair or doctor bill is less devastating, that it is easier to afford that family vacation or the fees for piano lessons, and that more families have money to save for their kids' college or for their retirement.

That was the goal--getting the economy thriving again so American families can thrive. I am proud to say, we are succeeding. I am proud that our policies are making life better for American families. Yet we are not stopping there. We are going to keep working to secure the gains we have made for the long term and make sure every American has access to a future of security and opportunity. Tribute to Chuck Grassley

Mr. President, I want to take a brief moment to express my gratitude to the Judiciary Committee chairman, Senator Chuck Grassley, for his leadership over the past months as we worked to confirm Judge--now Justice--Kavanaugh.

Every Supreme Court confirmation process is a somewhat arduous affair, but Chairman Grassley had to contend with more than an increased workload. He had to contend with Democratic colleagues who did everything they could to delay and disrupt the process and to taint Justice Kavanaugh's confirmation. Yet no matter what tactics the Democrats resorted to, from interrupting the confirmation hearing to withholding critical information, Chairman Grassley stayed above the fray. He carried on with what needed to be done, whether that was compiling information from Justice Kavanaugh's time in the White House or interviewing witnesses. He made sure the entire confirmation process was thorough and fair, and he ensured that Dr. Ford and Justice Kavanaugh were treated with dignity and respect.

I am grateful we had him at the helm of the Judiciary Committee during this process, and I am grateful that, once again, he helped to put an outstandingly qualified Justice on the Supreme Court. Tribute to Nikki Haley

Mr. President, I also want to take just a minute to recognize the outstanding work that Nikki Haley has done as the U.S. Ambassador to the United Nations.

Ambassador Haley has been a terrific ambassador and a real leader on the President's foreign policy team. She has been a clear, unequivocal voice for the principles our country values, and she has been a tough and outspoken critic of the tyrannical regimes that threaten our country and the free world.

I am sure the President will choose an excellent replacement, but Nikki Haley will be a tough act to follow. I wish her all the best as she begins her next chapter. She will be missed.

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