On the recordOctober 26, 2017
I thank Ranking Member Yarmuth for yielding me time. Mr. Speaker, snake oil is all that this Republican budget will give to the American middle class and working families. This Republican budget before Congress is squarely aimed at ramming through a tax plan without bipartisan consensus or input. This proposed tax plan will increase our deficit, adding $1.5 trillion over the next decade, and it leaves the middle class stuck footing the bill, with an increase in their annual Federal taxes. In fact, 80 percent of the tax cuts in this plan benefits only the wealthiest 1 percent of Americans. That means those benefits are geared towards those earning $900,000 a year or more. One in three middle class families making between $50,000 and $150,000 will see their taxes go up. One proposal that Republicans have put forth to pay for their plan is eliminating the State and local tax deduction. This will cost central coast homeowners and families in my district over $15,000 a year on average. As a member of the Budget Committee, I encourage my colleagues to reject this plan and to get to work on bipartisan negotiations for lasting tax reform that benefits middle class families.
