On the recordDecember 19, 2017
This morning I saw a dramatic bit of evidence as to why the American people overwhelmingly reject the Republican donor relief bill known as the tax reform bill. Chairman Brady of the Ways and Means Committee, the author of this bill, was asked why he didn't do anything in the bill to change the carried interest deduction, that provision which allows billionaire hedge fund managers to pay a lower income tax rate than tens of millions of regular Americans. He said the middle class Americans don't care about that, working families don't. I understand why he didn't want to try to defend the protection of carried interest. There is no defense for it. But here is why every American ought to care: Because every dollar of lost revenue that goes back to those billionaire hedge fund managers will result in cut services for the vast majority of Americans, for Medicare, for Medicaid, for Social Security, and for many others. It will add to the debt that their children and grandchildren will have to pay for. Mr. Speaker, that is a good reason why everyone should care about this bill, why it is a scam on middle class Americans, and why it ought to be rejected. ____________________
