On the recordDecember 19, 2017
I want people to make sure that people know the document. This is the document, JCX-68-17. If you look at the category of Americans who are making $100,000 or less--that is 57 million households who make under $100,000--they would see either a tax increase of one kind or another or a tax cut of less than $9 a month in 2019. I don't think that is much help when we consider that it is not as if that is the only revenue available--that all we can come up with is $9 a month--because I just walked through the other number which is relevant--the $36 billion that will come in 2019, the second year that the bill is in effect, going to households worth more than $1 million. If I had to choose, I would say that we should give all of that $36 billion to middle-income families or folks trying to get to the middle class or at least a substantial percentage of the $36 billion. I have been asking for months: Why do people making more than $1 million, that category of Americans, need $36 billion in tax cuts? I don't think they do. It is interesting--I want to commend the work of the ranking member of the Finance Committee. In some of our debates, one of the numbers that came out in the last couple of weeks was what has happened to the top 1 percent since 1980. I said several times that they have had a bonanza. I didn't have an exact number when I said that; now I do.…





