[Congressional Record Volume 164, Number 135 (Wednesday, August 15, 2018)]
[Senate]
[Page S5614]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               TAX REFORM

  Mr. RISCH. Mr. President, as you know, late last year, Congress 
passed the Tax Cuts and Jobs Act. As chairman of the Senate Committee 
on Small Business and Entrepreneurship, I supported this legislation 
because of its potential to spur investment, stimulate economic growth, 
and ease the tax burden on millions of small businesses. While our 
economy continues to grow, small businesses often don't receive due 
attention for their accomplishments and contributions. Owners and 
employees of small businesses nationwide continuously display resilient 
attitudes and a tenacious work ethic, proving that the American 
entrepreneurial spirit is alive and well. This law gives Americans the 
tools they need to grow and flourish, and their success stories 
encouraged me to begin this series of speeches highlighting the ways 
tax reform benefits small businesses.
  Today, I am pleased to share the story of Centennial Bolt, INC, 
located in Denver, CO. Founded in 1979 by Mark Cordova, Centennial Bolt 
specializes in manufacturing top-of-the-line fasteners. The Cordova 
family story serves as an inspirational example for hardworking 
American families. From humble beginnings, Mark's father, Moses, worked 
his way to a managerial position at Triangle Steel, Inc., and started 
his own business, Cordova Bolt, in San Diego, CA. After graduating from 
the University of San Diego, Mark moved to Denver and followed in his 
father's entrepreneurial footsteps by founding Centennial Bolt. This 
business became the premier fastener company in the Rocky Mountain 
region because of its ability to assist clients with projects of all 
shapes and sizes. After years of hard work and perseverance through 
tough economic times, Mark is now the CEO of both Cordova and 
Centennial Bolt.
  Tax reform's impact on Centennial Bolt and other small businesses 
nationwide cannot be overstated. Changes in the tax law offer necessary 
relief to both Centennial Bolt's employees and their families. Due to 
an increase in savings from tax reform, Mark plans to expand his 
workforce from 50 to 65 employees, while increasing employee salaries. 
This past year, the company surprised all 50 of its employees with an 
unexpected Christmas bonus for their hard work. In order to compete on 
a larger scale, Mark also plans on reinvesting the company's savings 
from tax reform into an additional facility and existing infrastructure 
upgrades. Across the country, tax reform continues to provide owners 
and entrepreneurs with increasing opportunities that help them and 
their employees to realize their dreams.
  Mark is optimistic about his company's future and believes the 
benefits his company receives from tax reform will give Centennial Bolt 
a competitive advantage. They are one of the many small businesses 
nationwide that can now more freely raise salaries, hire new employees, 
and compete with larger businesses in their industries. As tax reform 
continues to drive our economy forward, I will continue to acknowledge 
its positive impact on small businesses. I am proud to recognize 
Centennial Bolt and all of the small businesses that are thriving as a 
result of tax reform, and I look forward to watching the continued 
growth of the American small business community.

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