On the recordNovember 30, 2017
I do not ask for the unanimous consent, but I would like to speak on an amendment that I will be offering later. Mr. President, the President of the United States, Donald Trump, and the Republican leadership are busy every day telling the American people how this piece of tax legislation is going to help the middle class and how it was written for the middle class. We see President Trump going to Missouri and saying: This bill is not going to help me, who is a billionaire; it is really designed for the middle class. I trust that I will not shock too many people when I suggest that what President Trump is saying is not accurate, is not truthful. This legislation, according to numerous independent studies, will provide 62 percent of the tax benefits to the top 1 percent. So 62 percent of the benefits go to the top 1 percent, while it increases taxes on 87 million middle-class households by the end of the decade. Here we are, as every American knows, living at a time of massive income and wealth inequality. The middle class is shrinking, millions of people are working longer hours for lower wages, and 40 million people are living in poverty. But over the last 40 years, the people on the top have been doing phenomenally well, and today we have more income and wealth inequality than at any time since the late 1920s.…
Source
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