Political Quotes

“Mr. Speaker, slashing the corporate tax rate from 35 percent to 20 percent means one thing: a massive windfall for investors. While the champagne flows at the Trump Hotel after-party, middle class Americans would get nothing from this plan other than their deductions taken away for medical expenses, housing, and college loan interest payments. People won't even be able to deduct for most State and local income taxes paid, while large corporations would continue to do so. Here is the real shocker: fully 35 percent of the windfall, between $500 billion and $700 billion this decade, will go to foreign investors who own 35 percent of American stock. That money will be lost to us forever. It won't be there for Medicare or Medicaid or anything else. Blowing up our deficit by $1.5 trillion while transferring that much wealth to big corporations is a terrible idea. It is atrocious when you realize that we won't just be spoiling superrich Americans with billions of dollars, we will be spoiling superrich foreigners, too. Let's stop this speeding train and come up with a bipartisan tax plan that works for all Americans. ____________________”