Ted Deutch: “This debate has revealed deep differences between the majority and minority when it comes to how to grow our economy. We…”

“This debate has revealed deep differences between the majority and minority when it comes to how to grow our economy. We object to how Leader Cantor's bill borrows $47 billion from China for tax cuts designed to benefit millionaires. That's why the CBO ranked this proposal second to dead last in a long list of things we could do to create jobs. Now, Americans have learned by now that there is no such thing as a temporary Republican tax cut for the wealthy. They're all permanent. Let's acknowledge the real price tag here, a half a trillion dollars in deficit spending over the next decade--not for education, not for infrastructure, another $500 billion in windfall for the wealthy. As I said before, our disagreements run deep. The fact that we are outnumbered means that this misguided legislation will likely pass. Given that reality, we should at least be able to come together and agree on which businesses should be excluded from this new windfall. That's what my amendment aims to do. My changes are relatively small. In fact, Leader Cantor's legislation remains largely the same. For example, pass my amendment, and H.R. 9 will still uphold the GOP plan to take $46 billion from China and give half of it to millionaires. H.R. 9 will still count oil speculators, professional sports teams, and corporate lobbyists as small businesses. H.R. 9 will still pick and choose winners and losers by arbitrarily adding new loopholes to our already overcomplicated Tax Code.…”