On the recordDecember 20, 2017
last night the Senate passed an awful, partisan rewrite of the Tax Code. I said a good deal about the bill over the course of the debate and added my concluding thoughts into the Record before the final vote, but let me just reiterate one point. The Republican tax bill will cement the Republican Party as the party of the wealthy and the party of the big corporations against the middle class and the working people of this country. Corporations get permanent tax breaks. The individual tax breaks expire. By 2027, according to the Joint Committee on Taxation, 83 percent of the middle class--that is almost 145 million American families--will either get a tax increase or a tax cut of less than $100. Meanwhile, according to the Tax Policy Center, the top 1 percent of earners in our country will reap 83 percent of the benefits of the tax plan. Let's go over that again. The middle class, 83 percent, either get a tax increase or a tax break of less than $100. The top 1 percent, the wealthiest, get 83 percent of the benefits. Middle-class America is asking something: Why does the top get far more than I do? Why do I get a tax increase when so many of them get a huge decrease? To boot, millions of middle-class Americans will now go without health insurance and millions more will see their premiums rise. At the same time, multinational corporations and wealthy hedge fund managers enjoy a massive tax break.…





