Doris Matsui: “However, I have to say that there are fundamental flaws in this legislation. First of all, it does make significant…”

“However, I have to say that there are fundamental flaws in this legislation. First of all, it does make significant changes, although the authors talk about technical changes, in the top-heavy rules and the anti-discrimination rules. But these changes are actually substantive changes and, in fact, what they will do is make it more difficult for lower- and middle-income wage earners, employees, to be able to get pension benefits. In addition, statistically, a number of outside groups, because we do not have a joint tax committee distribution table, but a number of outside groups have said that the top 10 percent of the taxpayers will get 62 percent of the benefits in this legislation, and that is taking into consideration the additional employees that will be covered under the original Portman-Cardin legislation. But this is not unusual, because all of the tax bills that we have seen coming from my Republican colleagues over the last 4 or 5 months have been basically for upper-income folks anyway.”