Anna Eshoo: “Yesterday, Republicans unveiled their vision for tax reform, and it is not pretty. The proposal raises taxes on the…”

“Yesterday, Republicans unveiled their vision for tax reform, and it is not pretty. The proposal raises taxes on the middle class and showers the wealthiest 1 percent of our country with 80 percent of the benefits, at a total cost of $1.5 trillion charged to our Nation's credit card. The plan should be called ``Hurt the Middle Class Act.'' It eliminates personal deductions for medical expenses; it eliminates the deductibility of interest paid on student loans; it eliminates the deductibility of State and local income taxes, again, raising taxes on the middle class; and to add insult to injury, the proposal eliminates the deduction for personal property losses from one natural disaster fire. Now, in California, we just experienced the worst fires in California's history. Over 14,000 people lost their homes, at a cost of at least $3 billion. The heck with them. When policies weaken the middle class, the backbone of our country, they weaken our entire country. The President said tax reform will be the best Christmas present of all, but, for the middle class, this bill will be one lump of coal. ____________________”