On the recordMarch 14, 2013
Thank you, Representative Ellison. When you talked about the 2 million jobs that we'll lose in 2014 alone and the loss of the gross domestic product, there is no question that these are the challenges we're facing with the budget before us. What we didn't mention is that the only folks who are really going to benefit are the most wealthy. Under the plan that's been released by the Republicans, they're changing the tax rates and lowering it for those who make the most money; and the trillions that it's going to cost to make up for that is going to have to come from somewhere, but it's not outlined in the budget. What does that mean they're going to have to go after? They're going to have to go after the very tax breaks that the middle class rely on. That means your mortgage interest tax deduction could be on the chopping line under the Republican version of the budget. The largest investment that the middle class ever make in their lifetime is their home, and the fact that we help incentivize that investment so that people live in strong neighborhoods and safe communities could be on the chopping line. The very fact that you could take away the employer's ability to deduct some of their health care costs could be on the chopping line.…





