On the recordNovember 15, 2017
Our Tax Code is a statement of our values, and I can tell you that this tax bill doesn't reflect my values nor those of the American people. This bill favors the wealthy over the middle class, it favors corporations over the working families, and it favors special interests over everyday Americans. Madam Speaker, this tax bill raises taxes for 36 million middle class Americans, and it cashes a check for $2.3 trillion worth of debt that will be left for our children and grandchildren to pay. This tax bill gives permanent tax cuts for corporations and multinationals while making the tax cuts for regular taxpayers temporary. This tax bill preserves tax deductions for certain industries but does away with tax cuts in the Code that help everyday Americans. It eliminates the deduction for State and local taxes. It also limits mortgage interest deductions and limits the medical expense deduction affecting 9 million households. The independent group, the Tax Policy Center, estimates that almost half of the tax cuts, 47 percent of the tax cuts, will go to the top 1 percent. Madam Speaker, this bill devastates education. Education is truly the investment in our human capital, our workforce. It eliminates deductions for interest on student loans. It eliminates deductions for teachers who buy supplies. It eliminates lifetime learning credits, and it eliminates employer tuition assistance.…
Source
govinfo.gov




