On the recordNovember 29, 2017
I come to the floor today painfully aware of the many reasons to oppose this reckless, wasteful Republican tax plan. It is a shame because I still believe we need smart tax reform that puts working families and small businesses first and that prepares America to compete in the 21st century, but that is not what we will be voting on this week. We are voting on the Trump tax plan this week--a plan Republicans hope to ram through the Senate with a simple majority vote, 51 votes. With 51 votes, Republicans will raise taxes on millions of middle-class families and those working to join the middle class. With 51 votes, Republicans will hand huge tax cuts to big corporations with no strings attached and no guarantees that workers will see higher wages. With 51 votes, they will take healthcare coverage away from 13 million Americans and hike premiums for everyone else. With 51 votes, they will saddle our children and our grandchildren--like my new grandchild--with another $1.5 trillion in debt. Now, any one of these reasons is reason enough to oppose the Trump tax plan, but, for me, as the senior Senator from New Jersey--a State of nearly 9 million people, a State with the eighth most productive economy in America--I cannot and will not support a tax bill that reads like one giant hit job on New Jersey's middle class. Just how bad is the Trump tax plan for New Jersey?…
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