John Yarmuth: “As we wind down our arguments here, once again, we have had a very fascinating discussion and, once again, we seem to…”

“As we wind down our arguments here, once again, we have had a very fascinating discussion and, once again, we seem to disagree on virtually everything. For instance, I have heard from the other side many times over the last few days and today that we really can't say what the impact is, the claims that we are making about whether this bill will help the rich or help the middle class or help lower income individuals, because we don't have the details. Well, that is absolutely correct; we don't have the details. But then, if we don't have the details, how can the other side talk about the huge benefits that this proposal, this tax proposal that is yet unwritten, will provide for the middle class? And how can they deny that it will benefit the wealthy disproportionately? We know from the outline that was released by the other side in recent weeks that they intend to eliminate the estate tax. The estate tax only benefits wealthy Americans, people with estates over $11 million for a couple. They want to eliminate the alternative minimum tax. We know the alternative minimum tax only affects wealthy individuals. There was one estimate that the one year of President Trump's tax return that we have, that in that year alone, the alternative minimum tax, if it were repealed, would have saved him $30 million. So we know that affects very wealthy people.…”