Mr. President, I rise today to express my deep concern with the tax reform bill that the Senate Finance Committee is likely to approve later this week. The latest version of this massive tax bill, which will impact every single American, was only released to the public late Tuesday night. Less than 48 hours later, the Finance Committee is ramming through this bill on a party-line vote without any hearings and without a thorough review of the bill. I strongly disagree with the closed-door process of developing the substance of a bill which skews the benefits to the wealthy at the expense of middle-class families and with this bill's irresponsible cost of $1.7 trillion over 10 years. I also want to tell my colleagues and the President that there is still an opportunity for us to do the right thing and to work together on tax reform. We should follow the example of the last time there was successful tax reform enacted by Congress. This was led by Republican President Ronald Reagan, Democratic Speaker of the House Tip O'Neill, and Members of Congress from both parties, who worked together back in 1986 to pass major tax reform legislation. Sure, they had strong disagreements, but they held lengthy public debates, compromised on both sides of the aisle, and eventually passed a major tax reform bill that was bipartisan, was fair, and did not add to our deficits and national debt.…
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