Senator Lankford: This Budget Provides Path for Tax Reform
WASHNGTON, DC – Senator James Lankford (R-OK) released the following statement after voting for the FY2018 budget, which also provides reconciliation instructions for the consideration of a tax reform bill later this year:
“Our tax code hasn’t been updated in over 30 years – it’s complicated and outdated. This budget resolution provides the legislative path for tax reform that brings our tax code into the 21st century. After a decade of economic growth below two percent, we must get our economy growing. Meaningful tax reform will go a long way towards getting our economy moving and creating jobs.”
A budget resolution, which can include reconciliation instructions, is a piece of legislation that only requires simple majority (51 votes) in the Senate for passage, and is allowed only one time per fiscal year.