Anna Eshoo: “The Republican tax bill cuts the tax rate for so-called pass-through businesses, which is how many of the Trump family's…”

“The Republican tax bill cuts the tax rate for so-called pass-through businesses, which is how many of the Trump family's businesses are structured, including hotels, golf courses, and real estate developments. Specifically, the tax rate for passive business income, which is derived from licensing, royalties, and other arrangements that the Trump organization specializes in, will be cut from 39.6 percent to 25 percent in the Republican tax scam bill. That same bill also repeals the alternative minimum tax, which we know from Mr. Trump's leaked 2005 tax return forced him to pay an additional $26 million in taxes that year. Without the AMT, he is completely off the hook and would, essentially, have a measly 3 percent effective tax rate: another great example for the American people. It is no wonder they don't trust Washington, D.C. Lastly, the Republican tax bill doubles the estate tax exemption to $22 million, and guess who wins again? Mr. Trump. Mr. Speaker, only with full disclosure of the President's tax returns will we know how much he and his family will benefit from this Republican tax scam. That is why I urge my colleagues to stand up for transparency, listen to the will of the American people, and vote on this bipartisan legislation.”