On the recordJanuary 31, 2024
Mr. Speaker, this corporate tax windfall bill, thinly disguised as help for children, offers even more tax advantages to corporations that are paying today a mere 7.8 percent tax rate. A working mother of two earning the average wage pays a Federal effective rate of 20 percent. Even The Wall Street Journal called one provision in this bill a retroactive sop. It is minimal help for children and maximum benefits for those who are failing to pay their fair share. For every $1 that goes to children under this bill, $5 goes to corporations. Republicans are enabled to lock in $600 billion in extended Trump tax breaks while millions of children are left in preventable poverty and are denied a full tax credit. While bipartisan, this bill is no more equitable than our broken bipartisan tax code overflowing with loopholes and special advantages for the well-connected. This deal only continues slanting our tax system against working families. Reject the unjustified corporate ransom and lock in genuine relief for children.





