Political Quotes

“Mr. President, the American people understand this bill. They understand this bill will hurt middle-income families, and they know this bill will add to the deficit. They understand the Joint Committee on Tax has scored the bill as adding to the deficit. I hear so many of my Republican friends talk about these deficit hawks. We follow the recommendations of our professionals. This bill will add to the deficit. That is why the American people believe this tax bill, which has been advertised by Republicans as a tax cut, is not good for America. It is an extraordinary thing to get the majority of Americans against a bill that is purported to be a tax cut, because they understand it is not a tax cut for middle-income families. Let me give one number. The corporate tax rate under this bill will be reduced from 35 percent to 21 percent. That is a substantial reduction in the corporate tax rate. Now, understand that only about 5 percent of the largest businesses in America pay the corporate tax rate. It isn't a rate paid by small businesses. This is paid by megacorporations. They are getting a tax cut. When we look at the cost of that tax cut as scored by the Joint Committee on Taxation--the professionals--it is about $1.5 trillion of business tax relief. Guess who pays that $1.5 trillion. It goes on our national debt, and middle-income taxpayers are going to be asked to foot the bill. They get that. They understand this doesn't help middle-income families.…”