Political Quotes

“Madam Speaker, I yield myself such time as I may consume. Madam Speaker, I rise in strong support of H.R. 5377, the Restoring Tax Fairness for States and Localities Act. This bill would temporarily repeal the SALT cap in order to restore fairness in our tax code and provide Congress time to develop more comprehensive tax reform. The current cap on the State and local tax deduction reflects the sloppy and cynical nature of the 2017 Republican tax bill. This bill was hastily rammed through Congress in just 51 days without a hearing, without an opportunity to hear from State and local governments, and without an opportunity to hear from teachers or first responders. Republicans decided from the beginning, from behind closed doors, to include a cap on SALT deductions in order to help finance their tax cuts for corporations and the rich. In my home State, California, average SALT deductions are $20,448. A total of 6.5 million California families, or 35.6 percent of tax filers, claimed the deduction in 2017. The double taxation of earnings people have already paid in State and local taxes inhibit State and local governments' ability to fund even the most vital of programs, including emergency services and public education. H.R. 5377 fixes this problem by restoring the longstanding tax precedent that protects State and local governments' ability to raise revenue to fund these services. And this fix doesn't add a single dime to the deficit.…”