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(11) Closing tax loopholes to finance higher 
spending does not constitute fundamental tax re-
form. 
(12) Tax reform should curb or eliminate loop-
holes and use those savings to lower tax rates across 
the board, not to fund more wasteful Government 
spending. Washington has a spending problem, not 
a revenue problem. 
(13) Many economists believe that fundamental 
tax reform, including a broader tax base and lower 
tax rates, would lead to greater labor supply and in-
creased investment, which would have a positive im-
pact on total national output. 
(b) POLICY ON TAX REFORM.—It is the policy of this 
concurrent resolution that Congress should enact legisla-
tion to comprehensively reform the tax code to promote 
economic growth, create American jobs, increase wages, 
and benefit American consumers, investors, and workers 
that— 
(1) simplifies the tax code to make it fairer to 
American families and businesses and reduces the 
amount of time and resources necessary to comply 
with tax laws; 
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(2) substantially lowers tax rates for individuals 
and consolidates the current seven individual income 
tax brackets into fewer brackets; 
(3) repeals the Alternative Minimum Tax; 
(4) reduces the corporate tax rate; and 
(5) transitions the tax code to a more competi-
tive system of international taxation. 
SEC. 607. POLICY STATEMENT ON TRADE. 
(a) FINDINGS.—The House finds the following: 
(1) Opening foreign markets to American ex-
ports is vital to the United States economy and ben-
eficial to American workers and consumers. The 
Commerce Department estimates that every $1 bil-
lion of United States exports support more than 
5,000 jobs here at home. 
(2) The United States can increase economic 
opportunities for American workers and businesses 
through the elimination of foreign trade barriers to 
United States goods and services. 
(3) Trade agreements have saved the average 
American family of four more than $10,000 per year 
as a result of lower duties. Trade agreements also 
lower the cost of manufacturing inputs by removing 
duties. 
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(4) American businesses and workers have 
shown that, on a level playing field, they can excel 
and surpass international competition. 
(5) When negotiating trade agreements, United 
States laws on Intellectual Property (IP) protection 
should be used as a benchmark for establishing glob-
al IP frameworks. Strong IP protections have sig-
nificantly contributed to the United States’ status as 
a world leader in innovation across sectors (includ-
ing in the development of life-saving biologic medi-
cines). The data protections afforded to biologics 
under Federal law, including 12 years of data pro-
tection, allow continued development of pioneering 
medicines to benefit patients both in the United 
States and abroad. To maintain the cycle of innova-
tion and achieve 21st century trade agreements, it 
is vital that our negotiators insist on the highest 
standards for IP protections. 
(b) POLICY ON TRADE.—It is the policy of this con-
current resolution— 
(1) to pursue international trade, global com-
merce, and a modern and competitive tax system to 
promote domestic job creation; 
(2) that the United States should continue to 
seek increased economic opportunities for American 
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workers and businesses through high-standard trade 
agreements that satisfy negotiating objectives, in-
cluding— 
(A) the expansion of trade opportunities; 
(B) adherence to trade agreements and 
rules by the United States and its trading part-
ners, and 
(C) the elimination of foreign trade bar-
riers to United States goods and services by 
opening new markets and enforcing United 
States rights; and 
(3) that any trade agreement entered into on 
behalf of the United States should reflect the negoti-
ating objectives and adhere to the provisions requir-
ing improved consultation with Congress. 
SEC. 608. POLICY STATEMENT ON SOCIAL SECURITY. 
(a) FINDINGS.—The House finds the following: 
(1) More than 55 million retirees, individuals 
with disabilities, and survivors depend on Social Se-
curity. Since enactment, Social Security has served 
as a vital leg of the ‘‘three-legged stool’’ of retire-
ment security, which includes employer provided 
pensions as well as personal savings. 
(2) Lower-income Americans rely on Social Se-
curity for a larger proportion of their retirement in-
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come. Therefore, reforms should take into consider-
ation the need to protect lower income Americans’ 
retirement security. 
(3) The Social Security Trustees Report has re-
peatedly recommended that Social Security’s long- 
term financial challenges be addressed soon. The fi-
nancial condition of Social Security and the threat 
to seniors and those receiving Social Security dis-
ability benefits becomes more pronounced each year 
without reform. For example— 
(A) in 2022, the Disability Insurance 
Trust Fund will be exhausted and program rev-
enues will be unable to pay scheduled benefits; 
(B) in 2034, the combined Old-Age and 
Survivors and Disability Trust Funds will be 
exhausted, and program revenues will be unable 
to pay scheduled benefits; and 
(C) with the exhaustion of the Trust 
Funds in 2034, benefits will be cut nearly 21 
percent across the board, devastating those cur-
rently in or near retirement and those who rely 
on Social Security the most. 
(4) The recession and continued low economic 
growth have exacerbated the looming fiscal crisis 
facing Social Security. The most recent Congres-
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