John Thune

Mr. THUNE

Mr. THUNE. Mr. President, last November, the American people elected President Trump and a Republican Congress with a clear mandate, and since taking control in Washington this year, we have been working to deliver on our promise of a safer, stronger, and more prosperous America. Now we have the opportunity to pass a bill that advances all of these priorities and sets our country up for better days ahead. We have worked hard on this, and now it is time to deliver. The centerpiece of our bill is permanent tax relief for the American people. The 2017 Republican-led tax cuts lowered rates for every income bracket. We doubled the child tax credit and nearly doubled the standard deduction. But those policies will expire at the end of the year without action from Congress, which means a typical family would be hit with a $1,700 tax hike next year. In my State of South Dakota, South Dakotans would see their taxes go up on average $2,500. We are determined not to let that happen--not next year, not ever. Our bill makes the 2017 lower tax rates permanent. It raises the child tax credit to $2,200 per child and links it to inflation permanently, and it maintains the higher standard deduction that 90 percent of taxpayers use. And we are not stopping there. Seniors will have an even higher standard deduction. Millions of tipped workers will benefit from no tax on tips, and millions of hourly workers will be able to keep more of their overtime pay with no tax on overtime. Passing this bill means smaller tax bills and bigger paychecks for the American people--permanently. It will also help get our economy firing on all cylinders again. In 2017, we boosted our economy by lifting the tax burden on American businesses. We lowered tax rates for the owners of small and medium- sized businesses, farms, and ranches. We made it easier for them to recover the cost of investing in their businesses, which, in turn, freed up cash for them to invest in their operations and their workers. These and other major reforms helped kick-start our economy, and now we have the opportunity to make all of the pro-growth reforms from 2017 permanent and go even further. Our bill makes the small business deduction permanent. Full expensing for new equipment and domestic R&D will be permanent. Full expensing for new factories and factory improvements will generate growth and job creation and encourage more goods to be made in America. A higher death tax threshold that is linked to inflation will spare countless family farms, ranches, and small businesses from a potentially devastating tax and the cost of burdensome planning, and the next generation will be able to access new investment accounts when they reach adulthood to use for education, to start a business, to buy their first home--essentially, to get a running start on the American dream. All of this means more money in Americans' pockets, more opportunity, and greater prosperity. A bill to make America stronger and more prosperous would be incomplete if it didn't make America's farmers and ranchers stronger. Agriculture producers will, of course, benefit from permanent tax relief, but this bill also directly addresses the challenges producers have faced these past few years. It increases reference prices for every covered commodity; it enhances crop insurance coverage and affordability, including for farmers just starting out; and it supports risk management, disaster assistance, and conservation programs that producers depend on. The last few years have been some of the toughest in recent memory for American agriculture, and I am proud that this bill addresses these issues head-on. I can assure America's farmers and ranchers that their priorities will continue to be a priority here in Washington. This bill is also about a stronger America, and it makes a generational investment in our national security--all of our national security. That starts with securing our borders. The Trump administration has already done incredible work in stemming the flow of illegal immigrants and deporting criminals who had taken up residence in our country, but there is more work to be done, and law enforcement needs more resources to do it. Our bill provides those resources: the technology and manpower to stop illegal immigrants and illegal drugs at the border; an increased capacity to deport dangerous individuals from our country; and, yes, finally finishing the wall. As I said, the administration has made great progress already, and I am eager to get these resources into the hands of the men and women on the frontlines to solidify those gains. We are also making a major investment in strengthening our military. Recent events have only reinforced the imperative of military readiness. But in a number of instances, we have let our military strength slip, and adversaries like China have begun to outpace us in key capabilities. Our bill will help reverse that trend. It invests in shipbuilding, supports a new Golden Dome for missile defense, revitalizes the defense manufacturing capacity in America, and invests in the warfighting technologies of tomorrow. With this bill, we can help ensure that our men and women in uniform have what they need to deter and defeat any threat. We are safeguarding our national security from every angle, which means addressing energy security. Energy security might not get the same attention as border security or national defense, but it is a big part of keeping America strong and secure. Relying on energy from hostile nations or unstable parts of the world can be a dangerous proposition, and maintaining energy independence is key to keeping a country secure. We are fortunate to have an abundance of natural resources in this country, and our bill makes sure that the American people benefit from those resources by freeing them up for responsible domestic production for a secure, stable, and affordable supply of energy. There is a lot more I could say about this bill, but before I close, I just want to talk about how this bill delivers on Republicans' promise to rein in the size of government. It delivers savings to the American people by reining in waste, fraud, and abuse in Federal programs. It includes the largest spending cut in American history as well as commonsense, good-government reforms that haven't been attempted in Washington, DC, in decades. With more revenue--revenue we get by growing the economy, not by raising taxes--this bill will actually help reduce the deficit by as much as $6 trillion. This bill delivers on the mandate the American people gave Republicans last year: a stronger America, a safer America, and a more prosperous America. It is right around the corner. I yield the floor. I suggest the absence of a quorum.

Mr. THUNE

Mr. THUNE. Mr. President, I ask unanimous consent that the Senate be in a period of morning business, with Senators permitted to speak therein for up to 10 minutes each.

Mr. THUNE

Mr. THUNE. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. THUNE

Mr. THUNE. Mr. President, I ask unanimous consent that when the Senate completes its business today, it stand adjourned until 2 p.m. on Saturday, June 28; that following the prayer and pledge, the morning hour be deemed expired, the Journal of proceedings be approved to date, the time for the two leaders be reserved for their use later in the day, and the Senate be in a period of morning business, with Senators permitted to speak therein for up to 10 minutes each.

Mr. THUNE

Mr. THUNE. Mr. President, if there is no further business to come before the Senate, I ask that it stand adjourned under the previous order.

Mr. THUNE

Mr. THUNE. Mr. President, I understand there is a bill at the desk, and I ask for its first reading.

Mr. THUNE. Mr. President, I now ask for a second reading, and in order to place the bill on the calendar under the provisions of rule XIV, I object to my own request.

Mr. THUNE

Mr. THUNE. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. THUNE

Mr. THUNE. Mr. President, next year, if Congress fails to act, a typical family will face a $1,700 tax hike. A typical family in South Dakota will face a $2,500 tax hike. Republicans are determined to make sure that doesn't happen. Later this week, we will consider our reconciliation bill that will prevent that tax hike by extending the 2017 Tax Cuts and Jobs Act. I say ``extend,'' but we are doing a lot more than just extending the 2017 tax cuts. We are making them permanent. In some cases, we are even improving on them. Our 2017 tax relief legislation lowered tax rates for every income group. It doubled the child tax credit. It nearly doubled the standard deduction. The bill we are voting on this week will make all of that permanent, and it will go even further when it comes to the child tax credit, increasing it to $2,200 per child and linking it to inflation-- again, permanently. We are not stopping there. Our bill suspends taxes on tips, boosting the income of millions of Americans who earn tip income. It suspends taxes on overtime pay for millions of American workers, meaning police officers, firefighters, nurses, and others will be able to keep more of what they earn when they spend long hours away from their families. And an increased standard deduction for seniors will allow them to reduce their tax burden even further. The American people have better uses for their hard-earned money than sending it to Uncle Sam. And this bill will permanently ensure Americans can keep more of what they earn. The other legacy of the 2017 tax cuts is how they boosted our economy by lifting the tax burden on America's job creators. We lowered tax rates for owners of small- and medium-sized businesses, farms and ranches. We made it easier for them to recover the cost of investing in their businesses, which, in turn, freed up cash for them to invest in their operations and their workers. These and other major reforms helped kick-start our economy. And in the wake of the Tax Cuts and Jobs Act, our economy grew at a substantially better rate than projected. Real wages increased. Unemployment fell to a 50-year low. The poverty rate fell to the lowest level ever recorded. Business investment increased. Everywhere you looked, there was positive economic news. Mr. President, we were able to make some of the business tax reforms permanent in 2017. And now we have an opportunity to make the rest of these pro-growth policies permanent. That includes lower rates for small- and medium-sized businesses, the job-creating 199A small business deduction, and full expensing for new equipment and for domestic research and development. Once again, we are going beyond just making the 2017 tax relief permanent. We are setting our country up for a brighter future by further advancing a pro-opportunity, pro-growth Tax Code. Our bill includes full expensing for new factories and factory improvements so we can expect to see more growth and more jobs for American workers and more goods made in America. It raises the death tax threshold to $15 million and links it to inflation permanently, which will spare countless family farms, ranches, and small businesses from a potentially devastating tax and the headaches and expense of planning for it. And an entire generation of Americans will be able to access new investment accounts when they reach adulthood that can be used toward their education, to start a business, to buy their first home, and to get a running start on the American dream. Mr. President, this is a good bill. It is going to be great for our country. The Council of Economic Advisers, which accurately predicted the economic growth and higher wages in the wake of the Tax Cuts and Jobs Act, released its forecast of the Senate bill this morning. It contains a lot of good news, starting with as much as 4.9 percent higher GDP in the next few years. That means more jobs. It means bigger paychecks, as much as $10,000 per year for a typical family. It means more opportunity. Believe it or not, it means more revenue, revenue that we bring in in the right way--by growing our economy--not by raising taxes. In fact, the same forecasters who got the effects of the Tax Cuts and Jobs Act right are estimating as much as $6 trillion in deficit reduction stemming from the bill's pro-growth policies. Mr. President, we are well on our way to getting this bill passed this week, which means we are well on our way to a stronger and more prosperous America. That means Americans keeping more of their hard- earned money; it means American businesses growing and investing in our country and our workers; and it means a thriving economy like we had before the pandemic. Republicans are ready to deliver. I yield the floor. I suggest the absence of a quorum.

Mr. THUNE

Mr. THUNE. Mr. President, today I recognize Veblen, SD. The town of Veblen will be celebrating its quasquicentennial July 18-20, 2025. Veblen will host quasquicentennial events, which include a parade, vendor show, street dance, class reunions, fireworks, and much more. Veblen is located in Marshall County, nestled in the beautiful rolling hills of the Coteau des Prairies in northeastern South Dakota. The Veblen area has long been known as a community surrounded by the natural beauty of the breathtaking Glacial Lakes Region. Home to more than 300 people and multiple businesses, Veblen is known for its rich historical heritage and robust rural spirit. Since its beginning 125 years ago, the community of Veblen continues to serve as a strong example of South Dakota values and traditions. I offer my congratulations to the citizens of Veblen on its quasquicentennial and wish them continued prosperity in the years to come.

Mr. THUNE

Mr. THUNE. Madam President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. THUNE

Mr. THUNE. Madam President, today marks the third anniversary of the Supreme Court's Dobbs decision, overturning Roe v. Wade and returning the question of abortion to the people and their elected representatives. Three years on, there is much to celebrate. New protections for unborn Americans now exist in many States, and there are babies alive today who would not be here without Dobbs. But today is also a reminder of how much work there is still to be done. Other States have enacted aggressively pro-abortion laws, and the pro-abortion Guttmacher Institute reports that there were over a million abortions in the United States in 2024. So we still have a lot of work to do to reach a day when every--every--American, born and unborn, enjoys the full protection of the law. I am sure my Democrat colleagues have plans to commemorate the Dobbs anniversary, not as a day that opened the door to protections for human rights but as a day that opened the door to restrictions on Democrats' most cherished ``freedom,'' and that is the freedom to kill unborn human beings. I have to say, it is a pretty grim indictment of the moral health of a party when one of its signature issues is promoting the right to kill the youngest and most vulnerable Americans. As I said, there is still a lot of work to be done, but I am confident that we can get there. I look forward to the day when the life of every American, born and unborn, is protected and when being small and vulnerable does not mean that your human rights are any less respected.

Mr. THUNE

Mr. THUNE. I yield the floor.

Mr. THUNE

Mr. THUNE. Madam President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. THUNE

Mr. THUNE. Madam President, before I begin my remarks this afternoon, I want to speak briefly about Iran. For decades, the regime in Iran and its terrorist proxies have sought to sow chaos and violence throughout the Middle East. They threatened ``Death to America'' and to wipe Israel off the map. All the while, the mullahs have pursued a nuclear enrichment program that goes well beyond what is required for peaceful energy purposes. Madam President, Iran can never be allowed to have a nuclear weapon. This has been the position of President Trump and Members of this body for years. Since his reelection, President Trump made clear that a peaceful resolution was possible if Iran agreed to give up its nuclear weapons ambitions. Iran's leaders refused. As a result, on Saturday, the President ordered precise and limited strikes to go after Iran's nuclear program, consistent with this long- held national security imperative. I am grateful for the professionalism of all of our servicemembers in carrying out this important mission. Just a few hours ago, Iran launched an attack against our servicemembers in Qatar and Iraq. President Trump has been clear that he is not afraid to hold Iran accountable for any retaliation, and Iran risks going down a dangerous road with these attacks. Nevertheless, I am glad that the initial reports indicate that no Americans were killed in these strikes. If Iran is considering any further attacks against U.S. forces or interests, it should think long and hard about the consequences. I look forward to hearing from the administration during tomorrow's all-Senators briefing.

Mr. THUNE

Mr. THUNE. Madam President, we are getting closer to passing a bill that will help make America stronger and more prosperous--a bill that will ensure that working families can keep more of their hard-earned money; that will help small businesses grow and create jobs, strengthen America's farms and ranches, rebuild our military, secure our border, and, of course, unleash American energy. This bill is great news for our entire country, for Americans from every place and walk of life. But, today, I want to talk about how this bill will help make my home State of South Dakota stronger and more prosperous. That starts with making tax relief permanent. In 2017, the Republican-led Tax Cuts and Jobs Act meant lower tax bills for South Dakotans. That bill lowered tax rates for every income bracket, doubled the child tax credit, and nearly doubled the standard deduction. But those tax policies are set to expire this year, if Congress doesn't act, which would mean an average South Dakotan would see a $2,500 tax hike next year. We are not going to let that happen. Our bill will extend the Tax Cuts and Jobs Act's lower tax rates. It will extend the doubled child tax credit. It will extend the nearly doubled standard deduction. But not just extend them; make them permanent so that no hard-working American has to worry about a looming tax hike again, a few years down the road. I said we are going to make the $2,000 child tax credit permanent, but we are actually going to go further by increasing the tax credit by another $200. Under the Republicans' bill, the child tax credit will now be $2,200 per child, permanently. We are also delivering on a number of the President's campaign promises that will provide further relief to hard-working Americans. Under our bill, seniors will be able to reduce their taxes further with a $6,000 boost to their standard deduction. Police officers, firefighters, and hourly workers won't have to pay tax on their overtime pay. Waitresses and busboys will benefit with no tax on tips. And the next generation will be able to access new investment accounts, as adults, that they can use for their education, to buy their first home, to start a business--in short, to get a running start on their American dream. I could go on, but the bottom line is this: a bigger bottom line for hard-working Americans for the long term, more money in their paychecks, more opportunity, and a brighter future ahead. Madam President, the 2017 tax reform also helped grow our economy by lifting the tax burden on American businesses. Small businesses, farms, and ranches all benefited from lower tax rates and investment incentives. Tax reform freed up cash that business owners could use to invest in their operations and their workers. And South Dakotans saw those benefits on Main Street and on the farms and ranches that are the lifeblood of our State. Now Republicans are poised to make many of those reforms permanent. That includes investment incentives, like full expensing for new equipment and for domestic research and development. It includes the job-creating 199A small business deduction. It includes raising the death tax exemption to $15 million and linking it to inflation, meaning countless family farms, ranches, and small businesses will be spared the threat of this fundamentally flawed tax and the headaches that come with trying to plan for it. And, speaking of farms and ranches, in addition to providing farmers and ranchers with tax relief, our bill updates the farm safety net to address some of the challenges farmers and ranchers have been facing. It increases reference prices for every covered commodity, and it makes these prices more responsive to market conditions in the coming years. It increases crop insurance coverage and affordability, including for farmers just starting out. It supports livestock producers by making existing programs more responsive to drought and by funding the prevention of animal diseases that can devastate livestock. It invests in critical conservation programs, including programs that support South Dakota's wild bird populations, and it supports a bright future for agriculture by funding grants for research at agriculture research institutions and promoting trade for commodities in foreign markets. America's farmers and ranchers have faced some serious challenges in recent years--some of the toughest, in fact, in recent memory. I am proud that we are addressing their needs in this bill, and I can assure America's ag producers that their priorities will continue to be a priority here in Washington. There is a lot more I could say about this bill and how it will help South Dakota and our entire country, but before I close, I want to focus on how it will make America more secure. It makes a downpayment on strengthening our military by investing in the equipment our men and women in uniform need to keep America safe amid today's threats and tomorrow's. That includes expediting the production of the new B-21 long-range strategic bomber, the future backbone of the Air Force's bomber fleet. In the coming years, the B-21 will operate from several locations, including South Dakota's Ellsworth Air Force Base, and it is emblematic of the type of investments this bill is making in our military's future. This bill also makes a significant investment in our border security, including finishing the border wall. And, last but not least, it unleashes American energy. It reverses course from the Biden administration's hostility to responsible conventional energy production, and it will help guarantee a secure, stable, and affordable energy supply for American families and businesses and for our national security. A safer, stronger, and more prosperous America is within reach. We have made a lot of progress on this bill, and it is almost time to vote. I am looking forward to finishing our work and getting these policies in place for the benefit of South Dakota and of our entire country. I yield the floor. I suggest the absence of a quorum.

Mr. THUNE

Mr. THUNE. Mr. President, today I recognize Elena Burgwald, an intern in my Washington, DC, office, for all of the hard work she has done for me, my staff, and the State of South Dakota over the past several weeks. Elena is a graduate of O'Gorman High School in Sioux Falls, SD. Currently, she is attending the University of Nebraska-Lincoln in Lincoln, NE, where she is pursuing a degree in criminal justice. She is a hard worker who has been dedicated to getting the most out of her internship experience. I extend my sincere thanks and appreciation to Elena for all of the fine work she has done and wish her continued success in the years to come.

Mr. THUNE

Mr. THUNE. Mr. President, today I recognize Maddie Cross, an intern in my Rapid City, SD, office, for all of the hard work she has done for me, my staff, and the State of South Dakota over the past several weeks. Maddie is a graduate of Spearfish High School in Spearfish, SD. Currently, she is attending the University of South Dakota in Vermillion, SD, where she is majoring in political science and minoring in business administration. She is a hard worker who has been dedicated to getting the most out of her internship experience. I extend my sincere thanks and appreciation to Maddie for all of the fine work she has done and wish her continued success in the years to come.

Mr. THUNE

Mr. THUNE. Mr. President, today I recognize Elliot Hendrix, an intern in my Washington, DC, office, for all of the hard work he has done for me, my staff, and the State of South Dakota over the past several weeks. Elliot is a graduate of Stevens High School in Rapid City, SD. Currently, he is attending Cornell University in Ithaca, NY, where he is pursuing a degree in agricultural science. He is a hard worker who has been dedicated to getting the most out of his internship experience. I extend my sincere thanks and appreciation to Elliot for all of the fine work he has done and wish him continued success in the years to come.

Mr. THUNE

Mr. THUNE. Mr. President, today I recognize Taylor Quinn, an intern in my Washington, DC, office, for all of the hard work he has done for me, my staff, and the State of South Dakota over the past several weeks. Taylor is a graduate of Lincoln High School in Sioux Falls, SD. Currently, he is attending Augustana University in Sioux Falls, SD, where he is pursuing degrees in government and economics. He is a hard worker who has been dedicated to getting the most out of his internship experience. I extend my sincere thanks and appreciation to Taylor for all of the fine work he has done and wish him continued success in the years to come.

Mr. THUNE

Mr. THUNE. Mr. President, today I recognize Kaden Schmidt, an intern in my Washington, DC, office, for all of the hard work he has done for me, my staff, and the State of South Dakota over the past several weeks. Kaden is a graduate of Washington High School in Sioux Falls, SD. Currently, he is attending Iowa State University in Ames, IA, where he is pursuing a degree in aerospace engineering. He is a hard worker who has been dedicated to getting the most out of his internship experience. I extend my sincere thanks and appreciation to Kaden for all of the fine work he has done and wish him continued success in the years to come.

Mr. THUNE

Mr. THUNE. Mr. President, today I recognize Macy Steen, an intern in my Washington, DC, office, for all of the hard work she has done for me, my staff, and the State of South Dakota over the past several weeks. Macy is a recent graduate of the University of South Dakota in Vermillion, SD, having earned a degree in legal studies. This fall, she plans to attend the University of South Dakota Knudson School of Law. She is a hard worker who has been dedicated to getting the most out of her internship experience. I extend my sincere thanks and appreciation to Macy for all of the fine work she has done and wish her continued success in the years to come.

Mr. THUNE

Mr. THUNE. Mr. President, on Monday afternoon, the Senate Finance Committee released the text of the centerpiece of our reconciliation bill, making the tax relief we passed in 2017 permanent. The 2017 Tax Cuts and Jobs Act reduced tax rates for every income bracket, doubled the child tax credit, and nearly doubled the standard deduction. That, of course, meant more money in Americans' pockets. But those lower tax rates and the larger standard deduction and the child tax credit are set to expire at the end of this year, and if we don't take action, American families will be facing a massive tax hike starting in 2026. Americans making less than $400,000 a year would face a $2.6 trillion tax hike. A typical family of four making $80,000 would need to send an additional $1,700 to Uncle Sam--$1,700. Republicans promised the American people that we won't let that happen. With the release of the Finance Committee text, we are one step closer to delivering on that promise. Our bill will extend the Tax Cuts and Jobs Act's lower tax rates. It will extend the doubled child tax credit. It will extend the nearly doubled standard deduction--but not just extend them, Mr. President, make them permanent. Extending the lower tax rates or the standard deduction was never going to be enough for Republicans. We are making the lower tax rates and the doubled child tax credit and the increased standard deduction permanent so that American families do not have to worry about another looming tax hike a few years down the road. And we are actually going even further by increasing the child tax credit by another $200--again, on a permanent basis. Mr. President, that is not all we are doing. We are always going to make life better for the American people by growing our economy. In addition to cutting tax rates for hard-working Americans, the Tax Cuts and Jobs Act also implemented historic reform of the business side of the Tax Code. We lowered tax rates for owners of small and medium-sized businesses, farms, and ranches and made it easier for them to recover the cost of investing in their businesses, which in turn freed up cash for them to invest in their operations and their workers. We lowered our Nation's massive corporate tax rate--which, prior to the Tax Cuts and Jobs Act, was the highest corporate tax rate in the developed world--to make American businesses more competitive in the global economy and empower them to invest in wages and benefits for their workers. And we brought our international tax system into the 21st century so that American businesses would no longer be operating at a disadvantage next to their foreign counterparts. Mr. President, it worked. In the wake of the Tax Cuts and Jobs Act, our economy grew at a substantially better rate than projected. Real wages increased, unemployment fell to a 50-year low, the poverty rate fell to the lowest level ever recorded, and business investment increased. Everywhere you looked, there was positive economic news. When we passed the Tax Cuts and Jobs Act, we were able to make some of that business tax relief permanent. But like the individual tax relief, other provisions have either already expired, are expiring at the end of this year, or are in the process of phasing out. That includes lower tax rates for small and medium-sized businesses, the section 199A small business tax deduction, and full expensing for new capital investment and domestic research and development. Our legislation will permanently extend these key provisions. In between these and other new pro-growth policies, like a provision to boost domestic manufacturing by implementing full expensing for new factories and factory improvements, we can expect to see further economic growth and more jobs and opportunities for American workers. The Council of Economic Advisers, which accurately predicted the economic and wage growth that we achieved in the wake of the Tax Cuts and Jobs Act, is forecasting 2.9 percent to 3.5 percent long-run GDP as a result of our legislation. That means more jobs, better wages--as much as a $13,327 increase for a typical family--and more opportunities for American workers. It also means more revenue for the Federal Government--but revenue created the right way, through economic growth, not through higher taxes. And I should mention that, yesterday, the Congressional Budget Office released a new H.R. 1 analysis, which characteristically underestimates the economic growth--and hence the revenue--this bill will provide. CBO, the Congressional Budget Office, did the same thing with the Tax Cuts and Jobs Act, when it estimated revenues would be $1.5 trillion lower than what they have actually been. The Council of Economic Advisers, by contrast--which was most accurate in its modeling of the Tax Cuts and Jobs Act's effects, including its effect on revenue--tells us that passage of our legislation will increase Federal revenues by $4.1 trillion, more than enough to offset the CBO's deficit estimate. Mr. President, in addition to promising to make the 2017 tax relief permanent, President Trump outlined multiple other tax proposals on the campaign trail--proposals which were endorsed by the American people with his strong win in November. And with this bill, we are delivering on those promises. We are suspending taxes on tips for millions of tip workers. We are suspending taxes on overtime for millions of hourly workers. We are suspending taxes on auto loan interest when you buy a new car manufactured in the United States. And we are increasing the standard deduction for millions of low- and middle-income seniors, making their retirement a little easier and more prosperous. We are also implementing a program to create savings accounts for newborns, with an initial deposit of $1,000 to help parents save and invest for their children's future needs. Mr. President, everything we are doing in this bill is for the sake of making America stronger and more prosperous. And nowhere is that more true than when it comes to the tax portion--the centerpiece--of our bill. The tax provisions in our bill--from the permanent extension of the lower tax rates to the increased child tax credit, to the permanent tax relief for small and medium-sized businesses--will help bring security to American families and prosperity to our country. Working Americans--working Americans--are going to have a better life because of this legislation. I am proud to be a part of permanently extending and upgrading the Tax Cuts and Jobs Act. With that, I want to thank Chairman Crapo and his members on the Senate Finance Committee for their incredible work on the tax portion of our upcoming bill. I look forward to delivering permanent tax relief for hard-working Americans and American businesses in the very near future. I yield the floor. I suggest the absence of a quorum.

Mr. THUNE

Mr. THUNE. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. THUNE

Mr. THUNE. Mr. President, I move to proceed to legislative session.