Political Quotes

“Before I begin, I include in the Record, first a letter from the Commissioner of Revenue Services in the State of Connecticut, who has detailed out the impact of this tax on Connecticut residents. November 8, 2017. Hon. John B. Larson, House of Representatives, Washington, DC. Dear Congressman Larson: Thank you for opportunity to comment on the federal tax changes being considered in H.R. 1. We appreciate your leadership in trying to set the record straight as this partisan effort is rushed to judgment with no real input and much fiscal uncertainty. Unfortunately, what we see so far from a national and state perspective is very troubling. Some of the proposals to reduce taxes on corporate and pass-through business income could provide needed economic stimulus nationally and for states like Connecticut. Unfortunately, on balance, H.R. 1 is fundamentally flawed: Even the low estimate of a $1.5 trillion cost is not paid for and is really massive federal tax deficit spending. The nation has been down this road before and surely we should have learned something from the worst economic recession in modern times. Otherwise unaffordable tax cuts have long been part of a political strategy to ``starve the beast.'' Due to its long term unfunded cost, this Republican tax plan will compel big cuts in federal funding, such as Medicaid, that are important to states like Connecticut.…”