Chuck Schumer: “finally, on the tax bill, I just note that, once again, every day the more people learn about this tax bill, the more…”

“finally, on the tax bill, I just note that, once again, every day the more people learn about this tax bill, the more they don't like it. Stock buybacks continue at a hugely rapid rate. Aid to workers is much, much smaller, and the American people are learning this bill was of, by, and for the wealthiest Americans and the most powerful corporations. That is wrong. We welcome the debate on the tax bill because the more people learn about it, the more they don't like it. Since the beginning of the tax debate, Republicans have insisted their bill is about cutting taxes for working Americans. Even though the bill would direct 83 percent of the benefits to the top 1 percent, Republicans said workers were the focus. Even though they made corporate tax cuts permanent but let the individual tax cuts expire, they said the middle class would be the real winners. Democrats warned that if you gave big corporations and the wealthiest Americans the lion's share of the tax cuts, those benefits wouldn't trickle down to employees and the middle class. We warned that corporations would do what they always do when they have profits-- distribute them amongst themselves. Even though big companies like AT&T were already paying low effective corporate rates, they had been shedding jobs and investment for years even before the tax bill. Unfortunately, our warnings proved prescient.…”