This has been a long process writing this bill. I've been honored as a new member of Congress to be at the table along the way scoring some wins and some losses with regard to the final product and where I would like to see it overall. I think it's a very strong product. I'm excited that we have the real ability to bend the cost curve with a strengthened IMAC over the House version. I'm also thrilled that this new version will reduce the deficit by over $150 billion. We really can't afford not to do it. With regard to taxes and the impact on business, there have also been some very positive developments since the House version. The initial House version would have raised the tax rate that S Corps and LLCs, many small businesses, pay. I'm happy to say that that did not survive this process, we were able to get that out of the bill and that this bill is extremely beneficial for small businesses to help them save money. I think there is great potential going forward to reduce the need for tax increases and in fact allow tax cuts if we can pass comprehensive immigration reform. One of the baseline assumptions in this bill is that there will be 50 percent more undocumented immigrants after 10 years. This Nation can't afford to have 20 million undocumented immigrants. This Nation can't afford to have 10 undocumented immigrants. This Nation needs to have zero undocumented immigrants.
Editor's note · Context
Speaker Polis discusses the benefits of a new bill, including its impact on small businesses and immigration reform.
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