Gilbert Gutknecht: “I will hold this picture up of this family, but I think if he flips to the next chart, let us talk a little bit about…”

“I will hold this picture up of this family, but I think if he flips to the next chart, let us talk a little bit about that. He is absolutely right that the President promised when he ran for office the first time a middle-class tax cut. He did not promise a lower income tax cut, he did not promise to cut taxes for people who pay no income taxes. He promised a middle-class tax cut. In many respects, what we are doing is we are helping the President keep that promise. According to the Joint Committee on Taxation, which is a bipartisan committee and is the official scorekeeper of all tax bills, 76 percent of the tax relief in the package that passed this House, and we have not yet got the calculations on the bill that is being finalized in the conference committee, but my suspicion is it will be very close to the same number, at least three-quarters of the benefit of this tax package will go to families who earn less than $75,000 a year.”