Bob Menendez: “I am here to support the motion offered by Senator Cantwell, to speak out against a tax bill that is nothing short of…”

“I am here to support the motion offered by Senator Cantwell, to speak out against a tax bill that is nothing short of highway robbery on New Jerseyans. This tax plan is about one thing. It is about cutting taxes for wealthy corporations and asking working families to pay for it. It is especially bad for middle-class families in New Jersey, New York, Washington, Maryland, and other high-earning States that make bold investments in education, that drive the most innovation, that generate the most Federal revenue. Don't let the Republicans fool you if they airdrop an amendment at the last minute that throws a few crumbs at New Jersey families and call it a victory. Carve-outs, caps, and exceptions are nothing but gimmicks meant to distract the public from what is really going on. No matter how you slice it, gutting or even limiting the State and local tax deduction is a direct assault on middle-class families in America's highest earning, most economically productive States. By gutting the SALT deduction, Republicans will literally force millions of middle- class families across America to pay taxes on their taxes. In 2015 alone, nearly 1.8 million New Jersey households deducted a combined $32 billion in State, local, and property taxes from their Federal tax bill. These families aren't living large. They are middle- class folks who had to work hard for every dollar they have.…”