Madison Cawthorn: “When we started looking at the American Families Plan, we realized the tax hikes it would increase would raise capital…”

“When we started looking at the American Families Plan, we realized the tax hikes it would increase would raise capital gains and dividends tax from 20 to 39.6 percent, almost two times the normal price. It would impose capital gains taxes at death, which creates a second death tax, although I can't believe that we would ever need to tax anyone more than we do now. It would expand the 3.8 percent Obamacare surtax to hit even more small businesses' income than it already does. Lastly, it would increase the IRS' auditing power, including monitoring bank accounts, because the very first thing that we need to reopen our economy at a better pace is to give more power to three- letter agencies. Mr. Speaker, I yield to the gentleman from Virginia (Mr. Good), my good friend.”