Senator Murkowski Statement on Senate Tax Reform Legislation
After thoroughly reviewing the good work of the Finance Committee, I intend to support the reconciliation legislation that is now before the Senate.
Because the bill includes provisions originating in the Energy and Natural Resources Committee, Alaskans can expect to see me co-managing it with my colleagues, Budget Chairman Mike Enzi and Finance Chairman Orrin Hatch.
The bill before us has a number of features that are very attractive to Alaskans. It lowers tax rates, doubles the child tax credit, and provides tax relief for many families by doubling the standard deduction. It promotes economic growth, employment, and investment by improving the tax code for corporations and small businesses. And it removes the tax penalty for those who do not wish to purchase health insurance that they cannot afford or that offers little value to them.
Of course, the bill also includes a title that I am proud to have written, to open a small portion of the non-wilderness 1002 Area in ANWR in northeast Alaska to responsible energy production.
We still have work to do on this legislation and I look forward to the debate on the Senate floor and my colleagues’ ideas to further improve it.
Outside of the tax legislation, we must enact healthcare reforms to help stabilize the individual market. The Alexander-Murray bill helps to accomplish that, and as an original cosponsor of that effort, I will continue to encourage the President and my colleagues to act swiftly on it.