On the recordNovember 15, 2017
Madam Speaker, I yield myself such time as I may consume. Madam Speaker, 33 percent of Mr. Knight's constituents derive a $16,000 annual benefit from the State and local tax deduction. In the case of the gentlewoman from California, 37 percent of her constituents enjoy an $18,200 State and local tax deduction benefit. Madam Speaker, in closing, more than anything else, this is, as I opened with, a missed opportunity. We all know what is wrong with this Tax Code. We could have found areas of compromise emphasizing the middle class and middle-income earners. We understand that the Tax Code that American corporations use is not competitive now internationally, but we wanted some relief for middle-income people. So here is where the investment could have taken place. We could have begun an investment in human capital. You have heard it tonight. We should all be alarmed by labor participation rates in America. We all should be alarmed by what has happened in the post-war period where, at one time, it was 63 percent, and now it is 63.8 percent. It is about technology; it is about globalization, for sure; but it is also about skill set. Eighteen thousand precision manufacturing jobs in New England go unanswered, the smallest geographic region of the country. The Department of Labor reported this week that 6 million jobs in America go unanswered. It is part of a skill set issue. You know what else we need to be concerned about? Two million people in America are addicted to opioids.…





