Amy Klobuchar: “today we are voting on the motion to adopt the conference report on H.R. 1, the Tax Reconciliation Act. I will be voting…”

“today we are voting on the motion to adopt the conference report on H.R. 1, the Tax Reconciliation Act. I will be voting against adoption of the conference report. I have long called for tax reform. We should bring down the business income tax rate. We should bring back the money being held overseas to fund the infrastructure improvements we need across the country. We should simplify the code and help middle-class Americans pay their bills. But I have been disappointed by the most recent effort, which has not been bipartisan at all and has resulted in a bill that will add to the debt, create huge new loopholes that will encourage companies to move money around and move jobs overseas to avoid taxes, and will have huge unintended consequences for our economy. One of the most troubling developments of this bill was the inclusion of a provision to repeal a key part of the Affordable Care Act that would kick 13 million people off their insurance by 2027 and increase premiums by 10 percent in the individual market. That means less money in the pockets of American middle-class families. The American people want us to work together to make fixes to the Affordable Care Act, not move backwards with a partisan approach to healthcare added into a tax bill. This bill also hurts middle-class families by doing a bait and switch. Under the bill, millions of middle-class Americans would end up paying more in taxes in the long run.…”