Political Quotes

“Mr. President, briefly on another matter, we are just a couple of months away from the 2-year anniversary of the passage of the Tax Cuts and Jobs Act. Because of this legislation, families across the country are benefiting from lower income tax rates and are able to keep more of what they earn. We have also helped families by doubling the standard deduction for children, expanding the child tax credit, and simplifying the Tax Code, which is something I think we can all agree needs to be done. For the millions of Texans who were filled with dread simply about filing their taxes, it was a welcomed relief. The journey to pass the legislation wasn't easy, of course, and there was no shortage--there never are--of naysayers. Many of our Senate Democratic colleagues claimed this legislation only benefited the rich, the evidence to the contrary notwithstanding. We know that is false because of what the facts tell us. Let me go back for a second and explain why this congressional resolution of disapproval we will be voting on at about 3 o'clock is so ironic and so mistaken. Prior to tax reform, without limit, taxpayers could itemize their deductions for State and local taxes. They got to deduct that from their Federal income taxes, which meant, in essence, in those high-tax jurisdictions--the cities and the States that had high local and State taxes--taxpayers from around the country were subsidizing those taxpayers in those high-tax jurisdictions.…”