Newt Gingrich put the crown jewel on his contract last night. And if you earn over $200,000 a year, it is a crown jewel indeed. But if you earn $20,000 or $30,000 or $40,000 a year, you were sold fool's gold--costume jewelery. Under the Republican plan passed under the cover of darkness, if you earn $200,000 a year you will get a tax break of over $11,000. Those earning over $350,000 will get $20,000--more than some working families earn in a year. But if you earn $20,000 or $30,000 you will get a meager $25 a month. You can see why Newt Gingrich calls this plan a jewel--it is precious to the rich. The Republicans say they can cut taxes without increasing the deficit. We tried that once before in the 1980's. We are still trying to dig, our way out of the huge record deficits it created. Mr. Speaker, the Republicans are robbing poor Peter to pay Paul. The American people know better. For shame, Mr. Speaker, for shame.
Elijah Lewis: “Newt Gingrich put the crown jewel on his contract last night. And if you earn over $200,000 a year, it is a crown jewel…”
Editor's note · Context
Addressing tax breaks in the Republican plan during a floor speech.
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