On the recordJuly 26, 2017
My colleague is right. There is a very regressive effort going forward in the House, the House Budget Committee, and, clearly, this is to try to set up tax cuts for the fortunate few. I was struck by the fact that the President has talked about a 15- percent corporate rate. You lose $100 billion for every point you lower the corporate rate. The corporate rate is now 35 percent. If you move it to 15, that is $2 trillion that goes out the door. Yes, I am very troubled that the House effort plus this legislation is really an effort to begin the unraveling of America's social safety net, and the funds that provide for those very vulnerable people would be used for these additional tax breaks.
