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WASHINGTON – Sens. Mike Lee (R-UT) and Marco Rubio (R-FL) issued the following statement Thursday in response to the Tax Cuts and Jobs Act released by House Ways and Means Chairman Kevin Brady (R-TX): “We appreciate the hard work and countless hours our colleagues in the House have put into crafting this legislation. As we’ve long said, tax reform should be about making the code more pro-growth and pro-family. The House bill is an important step in the process.”

Every year an estimated 130 billion bank transactions worth more than $80 trillion flow through the American economy. Given the sheer volume of transactions, disagreements are bound to arise between banks and consumers. If a customer disagrees with their bank about a specific transaction, they can either a) fight the bank for the money they believe they are owed, or b) switch banks.

Mr. President, as we speak our brothers and sisters in Florida, Puerto Rico, and Texas are recovering from a string of devastating hurricanes. Over one hundred people have lost their lives because of these storms. Many more are struggling to get by day to day.

It’s not every day that good news comes out of Congress, but last night the United States Senate made firm progress on tax reform that included a strong bipartisan message that the final legislation must include real tax relief for working families. Make no mistake: Any tax reform legislation that is produced this year will do so largely along partisan lines. That is why the Senate’s passage of a budget resolution last night was so important for tax reform. It checked the first box in the budget reconciliation process created by the 1974 Congressional Budget Act that allows the Senate to pass certain budget-related legislation by a simple majority vote.