Wendy Sherman: “Yesterday we slashed money for education for teachers, for after-school programs, for Head Start. Today, they want to…”

“Yesterday we slashed money for education for teachers, for after-school programs, for Head Start. Today, they want to cut $50 billion per year from Federal revenues. Two percent of American families even pay this tax. Three percent of those involve family farms and family businesses, so only 6 out of every 10,000 families fit into the category of having a family farm or family business affected by this tax. The Democratic bill does far more for those family farms and businesses. Immediate relief. A bill that will be signed into law. But only the Republican bill provides the billionaire's tax relief act. Not one penny for those who make $6 an hour or $10, not relief at the democratic level for small businesses, but huge relief for multibillion-dollar fortunes. Furthermore, the Republican bill will slash major endowments for colleges, universities, and conservation programs. Those folks will be here asking for Federal help, and we will not be able to give it to them because we will have cut revenues by $50 billion. The Republican bill even contains a hidden provision which will increase income taxes on widows. There are plenty of reasons, 50 billion reasons, to vote no on the Republican bill and yes on the Democratic substitute.”