Adrian Smith: “I include in the Record a series of statements in opposition to H.R. 5377 from Americans for Tax Reform, Americans for…”

“I include in the Record a series of statements in opposition to H.R. 5377 from Americans for Tax Reform, Americans for Prosperity, National Taxpayers Union, Heritage Action, and Parity for Main Street Employers. Key Vote: ATR Urges No Vote on H.R. 5377, a Pledge Violation Posted by Alex Hendrie on Wednesday, December 18th, 2019, 3:00 PM PERMALINK The House of Representatives is set to vote on H.R. 5377, the ``Restoring Tax Fairness for States and Localities Act.'' ATR urges a ``NO'' vote. This legislation is a violation of the Taxpayer Protection Pledge, a commitment made by 218 members in the House and Senate to oppose any and all net tax increases. If passed into law, it will raise taxes on individuals and small businesses that file through the individual income tax system. This bill trades a temporary rollback of the SALT cap for a permanent rate hike. This legislation is a net tax increase of $2.4 billion over the ten-year budget window, according to the Congressional Budget Office. H.R. 5377 also rolls back the Tax Cuts and Jobs Act, passed by Republicans and signed into law by President Trump. ``The Trump tax cuts reduced taxes across the board. This legislation is step one toward abolishing the entire Trump tax cuts and increasing taxes on the middle class, a key goal of every Democrat presidential candidate,'' said Grover Norquist, President of Americans for Tax Reform.…”