Donald M. Payne: “I would first like to start by thanking my colleague, Congressman Garamendi from the great State of California, for…”

“I would first like to start by thanking my colleague, Congressman Garamendi from the great State of California, for hosting this afternoon's Special Order hour on the Republicans' massive tax giveaway to the rich. Mr. Speaker, the American people want a tax plan that creates jobs, builds infrastructure, helps out the poorest among us, strengthens the middle class, and requires billionaires to pay their fair share. Unfortunately, the Trump-Ryan-McConnell tax plan puts billionaires first and working class people last. The Republicans' tax plan will cut taxes for the wealthiest 1 percent, and it will raise taxes for more than a quarter of New Jersey's households. That is 1.2 million families in the State that I represent. Across the country, the average tax increase for families under the Trump-Ryan-McConnell tax plan is $794 a year, another $794 a year on families struggling now to make ends meet. In New Jersey, that is money a family could use to pay for a month of childcare or 7 months of an electric bill. The President spends a lot of time golfing at his resort in Bedminster, New Jersey. He knows many working class people in New Jersey. He employs some of them. His proposal to eliminate the Federal deduction for State and local taxes will hurt them dramatically. Eliminating the Federal deduction for State and local taxes will take money out of people's pockets and out of New Jersey to fund tax cuts for the wealthy.…”