Political Quotes

“I thank my colleague from Michigan for focusing on the issue of wages because that was the promise--right?-- that if you give corporations a tax cut of more than $1.3 trillion-- with a ``t''--all of a sudden, you are going to see wages go up, and workers are going to do a lot better. We know that hasn't happened in recent history. We will see if the Republican argument is correct. I want to put a few facts on the record in light of the debate this afternoon. Many people in both parties have been referring to the documents of the Joint Committee on Taxation, the JCT. I am looking at one of the documents right now to go through some data. This is dated November 27. It is D-17-54 for the Joint Committee on Taxation. Here is some basic data. The Joint Committee on Taxation, which is, of course, Congress's official scorekeeper, finds that in 2019--right away, early in the implementation of the bill, if this bill is to pass and if the version we just received is to pass--the Senate plan increases taxes on nearly 13 million families earning under $200,000 a year. That is what the document tells us. That is the under-$200,000 category and 13 million families just in 2019. If you break it down further in terms of folks making between, say, $50,000 and $75,000 and then $75,000 and $100,000, almost 20 percent of Americans earning between $50,000 and $75,000 a year will see a tax increase or a tax cut of less than $100. That works out to be about $9 a month.…”