Political Quotes

On the recordApril 11, 2018
Thank you, Mr. President. Before I get to the substance of my remarks, I remind my dear friend the majority leader that the vast majority of the benefits of this tax break, this tax cut, went to the wealthiest of Americans and large corporations. What are they doing with the money? They are using most of it for buybacks. That was a buyback. They buy back their own stock. The CEO--already a rich guy--is making more money. The shareholders, one-third of whom are out of the country and most of whom are in the top 10 percent of America, make more money. The middle class and rural America particularly are left behind in this bill. We could have done a tax bill where the benefits went to the middle class--not just some--10, 20 percent--but all. So this bill is a bit of a fake. There are small benefits for the middle class, along with harm to their healthcare. The things put in this bill are going to raise many people's premiums far more than their small tax break. Let's be honest about this. This bill was done for the rich and the wealthy in power, and there were some benefits to the middle class, but it could have been so much better. Our Republican colleagues listened to the wealthy special interests, the large contributors, and that is how this bill came about.…
Said by
Chuck Schumer
Democratic · New York
Source
govinfo.gov
Apr 11, 2018

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