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tv   Senate House Democrats on GOP Tax Plan  CSPAN  November 2, 2017 3:44pm-4:22pm EDT

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we're going to get this done. you know why? because the american people are counting on us. we're going to get this done because we told the american people this is what we're going to do if we get in majority and we're doing it. thank you, everybody. appreciate it.
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well, a few hours after house republicans unveiled their tax plan this morning, congressional democrats also spoke with reporters. we'll hear from house minority leader, nancy pelosi, senate minority leader, chuck schumer, and other democratic leaders. good afternoon, everyone. thank you for being here. as you know, today house republicans unveiled a bill that raises taxes on millions of middle class families and borrows trillions from the future just to give massive new tax breaks to the wealthy. and especially to their friends, corporate america. the american people deserve real bipartisan tax reform that puts the middle class first, growth,
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creating good-paying jobs and lowers the deficit. this republican plan doesn't do any of that. in fact, it is a give-away to corporations and the wealthiest. they brag about saying they have a sample family that if you make this much money, you get this much tax break. what's important to know about what they're doing is what they give you with one hand, they take away with the other. raising taxes, again, on millions of middle class families, hoping that the american people won't figure it out, because they're going to race this through. we know that there's some members on the floor of the house today who are on the ways and means committee who have never even seen this bill. so if you're a middle class family, how do you judge this? if you own a home or want to one day, you lose. if you want -- if you have a sick child or a family member with long-term medical care needs, they take away the medical deduction, you lose. if you want to have -- if you have student loans or want to
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have student loans or use the credit for lifetime learning with a credit for lifetime learning, you lose. if your corporation wants to pay for learning for employees, that deduction is gone. you lose. if your family lives in a state, any state, and don't want your income tax twice, you lose. and if you plan to living past 65 and need medicare, you lose. hidden in the pages of the ryan/mcconnell bill are devastating plans to raise taxes on working families by d dismantling state and local tax deductions, encouraging americans to ship jobs overseas. shipping jobs overseas costs you less than creating jobs in america. offshoring jobs at the expense of the american worker. $1.5 trillion in tax breaks for corporate america. this all goes together. it's a package for the corporate
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america. $1.5 trillion in tax breaks for corporate america. the same exact amount that they cut from medicare, $500 billion, medicaid, $1 trillion. $1.5 trillion from medicare and medicaid. $1.5 trillion gift to corporate america. and the additional gift of lowering the cost of shipping, making it cheaper for them to ship jobs overseas than to create jobs in the united states. and even after ransacking all of the middle class benefits, republicans are still adding trillions to the deficit. scheming to use the debt they pile up today, to obliterate medicare and medicaid tomorrow. this is a shell game, a ponzi scheme, that corporate america will perpetrate on the american people. the republican bill written in secret, designed to be raced forward before it's truly understood, ransacks vital benefits for the middle class. but if you're the wealthiest, 1%, republicans will give you
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the sun, the moon and the stars. all of that at the expense of the great middle class, which is the backbone of our democracy. i'm pleased now to welcome back to the house side and yield to the distinguished democratic leader of the senate, chuck schumer. >> thank you, nancy. when i was in the house and ron was in the house, we didn't have such a fancy room here. we had that little place up on the third floor. which i inhabited regularly. >> camera-shy. yes, he is. >> i don't need any add-ons here, nance. okay. well, we're still poring through the fine print of the house republican tax plan. one thing is crystal clear. this plan is a tax burden that ought to be on the backs of the wealthy and the biggest corporations. but instead, it drops it squarely on the backs of the middle class. you're a big corporation, you're
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a wealthy individual, you do great. you're a middle class person, you suffer. republicans are trying to argue that the middle class gets a tax break, but what they won't tell you is that many, many, many middle class families will see their taxes go up under this plan. let me give you two examples, a family in new york or illinois or virginia. they have a house hold income of about $100,000, in those states, those aren't very much. because policemen, teachers, living together, husband and wife, make over that. if you take the typical amount of each of those deductions, their taxable income would fall to $44,397. meaning this family, pays $5,027
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more in taxes while the wealthy get a huge break. people like that are all over the middle class, they're all over the suburbs of new york, california, pennsylvania, virginia, colorado, many of them in the districts of our republican friends, they're going to pay a whole lot more. now, let's take another family, a poorer family, making $40,000 a year. now this family could get an increase of $810 because the child tax credit doesn't help those families, instead the bottom rate goes up, and they pay more. so throughout the middle class, millions upon millions of hard working citizens are paying more, i wonder if you can find someone whose income is over a million dollars a year who's going to pay less, who's going to pay more? they won't.
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middle class pays more, wealthy pay less. and people in different individual circumstances get clobbered. if you pay student loans, if you have a mortgage, if you have medical expenses, your taxes could very well go up, because they eliminate the deductions for the middle class and increase the ability of the wealthy to pay less. so family after family after family gets hurt. we'll give you the examples of the families making $100,000, the families making $40,000 and how much more they pay. so this bill is everything america doesn't want. america doesn't want the wealthy to pay less taxes. they know that big corporations are swimming in money and don't
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need anymore and won't produce any jobs. they want middle class tax relief. and this bill takes away so much of middle class tax relief that millions of middle class tax families will be in pain because of this bill. we see what our republican colleagues are doing. the bill comes out thursday, they want to start marking it up monday. a bill of enormous complexity. that affects millions of people in so many different ways. that's a disgrace, to rush a bill like this through, without a hearing, without scores, without experts looking at it. all the businesses want to look at it. everybody wants to look at it. they're trying to rush it through. why? they're ashamed of this bill. they know the more of this bill that's expose out there, the less people like it.
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in short, this bill is like a fish, if it stays out in the sun light too long, it stinks. they don't want that to happen. our republican friends want to avoid the spotlight. the last time our tax code was reformed, it was so different. both parties worked together at length. proposals were vetted. i was there, i worked on that bill. along with chairman gephart, senator bradley, there were countless hours of hearings, the problems that existed in the initial draft were changed and perfected and modified, so at the end, it was a bill that everyone could be proud of. republicans are not proud of this bill. if they were, they would march the bill down the streets of america with a big brass band and say, hey, everybody, look at our bill. instead they're hiding the bill. and that's because they're not doing tax reform. they're doing tax give aways to the wealthy and the powerful.
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and telling the middle class, take a hike, you're on your own baby. i believe we will prevail on tax legislation if we don't try to rush it through. you cannot have a successful bill if you rush it through in the dark of night. >> this is a missed student. -- opportunity. i say missed opportunity because i want to highlight what happened back in '86 specifically. there were 30 hearings in the full ways and means committee. there were 12 hearings in the ways and means subcommittees, 450 witnesses testified and the markup took 26 days. reminder, we have not even seen the chairman's mark. we're likely to see that maybe tomorrow. as of the moment, we have not seen the distribution tables.
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we have not had a chance to go through anything other than what they have presented by a press conference. but we do know the following. that they're going to say on one hand that they're giving $1150 to the average family and then simultaneously taking it away by capping deductions they have for homeowner ship and how about the fact that there's a trillion dollars of student debt in america and they're taking away the ability of students to deduct that interest. when you consider what they're doing on the charitable front, this is going too discourage charitable giving. these are guarantees they made to people that this wouldn't happen. getting rid of the historic tax credit and then talking about stimulus? stimulus in old cities today is from new market tax credits. when you look at this exercise,
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trying to sif cipher simplicity. we're all anxious to see those new distribution tables to find out who gets what. but it's very clear at the moment that their advertised effort on behalf of the middle class is simply not true. >> good to be with the speaker and my leader senator schumer. i think it's important to recognize what this bill is really all about. it's designed to offer what appear to be enough crumbs for some middle class folks in order to distract from the multitrillion dollar giveaways, to the big corporations that ship jobs overseas in the megawealthy. and let me give you an example,
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senator schumer and i have been looking at these examples all through the morning. say you have a family who makes a little bit over $50,000. on a good day, maybe, just maybe that family might get an itty bitty sliver, but if they have to send a kid to school, or they have to pay medical expenses, which they could no longer write off, this bill leaves that family behind. and that is going to be the message we're going to be getting out to our colleagues in the next several days. the overwhelming beneficiaries of these tax cuts are those who already have the power, who are already thriving in an economy that leaves so many working
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class people behind. we know that there is a lot still to be evaluated. i think it takes your breath away to believe that you can on monday talk about a bill, and actually begin considering it formally, that would remake the american economy with such flimsy amounts of information that are available. and what i'm going to be stressing, i'm on my way, and i appreciate both the leaders recognizing that we west coasters have flights and the like. i'm having town meetings, four of them over the weekend, the first thing i'm going to talk about, is if you want to do a tax bill right, you don't start with a double standard, the corporate tax rates in the republican plan are permanent, written in ink, set in stone, locked in place, key thrown away. but look at the bill.
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so far, a lot of families are going to be settling for temporary tax cuts. there's a double standard on double taxation. the corporations are still going to get to deduct their state and local taxes but individuals and families won't. a recent college grad who didn't come from much and took on tens of thousands of dollars in student loan debt loses their deduction for student loan interest payments, but guess what? the multinationals who ship jobs overseas still get to deduct their interest payments. what could be more clear evidence of the kind of double standard that my colleagues and i are talking about. and the last point i want to mention is deeply personal and i have talked about this with my friends over the years. i was director of the great panthers for many years, back when i had a full head of hair and rugged good looks, and boy,
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this is really anti-senior as it relates to the change in the medical deduction. a senior who has an expensive medical condition will not be able to deduct those expenses from their taxes. president trump didn't tell seniors in america during the campaign that they were going to lose the opportunity to be able to afford health care. so along with my colleagues who have said it very well, this is going to be a full-court press because what they want to do is get this bill out before americans have had the chance to put a dent in their holiday shopping. that's because this bill can't stand the light of day. we're going to make sure that we
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take to the american people what this bill is really all about. >> i just want to make one correction before we do questions. i left out $100,000 family, okay? a lot of states like mine, married teacher and police officer make considerably more than that. they deduct their state and local taxes, mortgage interest, student loans and medical expenses. take a typical amount for each of those deductions, their taxable income falls to 44,397, they would owe 5,727 in taxes, but here's the part that i left out. they get 3,000 in child tax credits, so their total goes to $2,727 which is $993 more. so people making 100,000, people making 40,000 an$40,000 and lot people in between, pay a lot more in taxes while the big fat
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cats do just grand. >> i just want to put three facts together here about corporate america. because you said the president didn't say this or that to america's seniors. hi didn't say to america's workers that we're going to give a trillion dollar tax cut to corporate america, the same amount we're going to take out of medicaid and medicare, make it cheaper for them to send jobs overseas than create jobs over here. the vice chairman of the finance committee, said while individuals in the states cannot deduct their state and local taxes, corporations can, and even corporations who make that money overseas. it's a total rip. and when he said they found some crumbs, it just reminds you of a big banquet, for all the rich and powerful, sharing all the money that they're taking from the middle class, while they
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throw some crumbs. it's a film flam, it's has to be reflected, it has to be rerejected. you have to help us get the word out. any questions? >> the amt, because many of you have followed the work we have done on that, myself having earned a phd in it, i think. in amt, we took care of the middle class on the famous new year's eve get together we had almost two years ago. the middle class does not pay amt anymore. it's limited to the highest income americans, about 4.5 million americans. >> they won't like it, and they won't get enough votes to pass
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it. this bill is so against what the average american wants and they're beginning to see it. most of the polling data shows that people are now against the trump tax plan. paul vz t these folks are going to go home and many of them are in vulnerable districts, and their constituents are going to know that they're hurting average voters to help the very wealthy. no one buys that except the thousand people in the right wing contribution and the people in the think tanks and law schools they spay. >> so once the public learns about this plan, there's going to be huge pressure on republicans not to vote for it. >> democratic unity was extremely powerful on obamacare, on the idea that you guys didn't lose any members, how confident
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are you democrats can -- >> we have in the senate, 45 of our 48 signed a letter that asks for three things, no tax breaks for the top 1%. they get a pass through, huge. second, budget neutrality, don't increase the deficit. this tax bill blows a huge hole through the deficit. work with us, don't use reconciliation. even the three who didn't vote for it. listen to what they have said, even the three who didn't sign our letter, agree with those three principles, this bill is very far away from -- just listen to what they're saying about it. >> i went with the five democrats to the white house about ten days or so ago. they were the five democrats, up for election in 2018, in the states that donald trump won. and all of them, very specifically backed up the
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principles that leader schumer just mentioned. first thing out of their mouth, we got to get this to the middle class. second can't get it to the wealthy. in fact when the finance democrats brought it up, the president said, oh, we don't want it to go to people like myself and that it wouldn't clobber social security and medicare. so the points he has stressed are the very ones that the finance democrats in states that the president won in 2018 emphasized when they were with the president. >> and you got an interesting dynamic here. in the house you have a lot of republicans from suburban, fairly well off districts who are going to get clobbered by this bill. so to get it to pass, which they -- i don't know if they'll be able to do it. they got to make the deficit worse, to get rid of the few pay fors. in the snenate, you have a good number of senators, who are
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deficit tahawks, republicans, a they don't want to vote for something that blows a hotrilli dollar hole in the deficit. >> in addition to our internal unity. we had unity with all those outside who were paying attention to who was happening on health care. that was a tax bill disguised as a health care bill, what they did before, and that was defeated. now they have a tax bill that seriously undermines the good health of the american people. so many of those same people will be making calls into the republican districts about the medical tax deduction, about what it does to medicare and medicate. about what it does to charitable giving. because many of these tax -- they are very activated in the republican districts. the internal mobilization is --
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while the tax -- the health bill was life and death, this is really everything on the line. >> why are the california republicans supporting this bill when they're in the same boat as other republicans are. >> we had our california delegation democrats lined up and 14 of them read what it meant in different districts, how many people were affected, what the average deduction would be. in one district, roy said it's over 200,000 people, around 18,000 in the deduction as he voted for it. and it will be interesting to see, our governor has sent letters to them, we have lots of press going on about it, so they
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are hoping that their constituents don't know what's happening here. and that's the point that the leader made earlier, they're just hoping they could mass car ra ma -- for what they are doing to their own constituents, why? why is always the question, why? so they can give tax cuts to the high end and to corporate america enabling them to ship jobs overseas, at an advantage, take their deductions, even for the money they make overseas while depriving their own constituents of that. so they will be hearing from their constituents on it. let's just hope that they were just enabling the process to go forward. let's hope that's the case. or maybe idealogically they're just trickle down guys and their
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constituents will have to make a judgment about that. >> the house and senate republicans said don't stop it now, let it go forward and let's see what happens. and it's going to get worse, and the likelihood, you know, they may be living in the old world, back in 2000, if you gave huge tax breaks to the wealthy, and crumbs to the middle class, the middle class would say i'm getting something, the world's different. with income distribution the way it is. with the populism in anger that propelled trump to the presidency, you can't get away with that anymore. you can't say i'll give the middle class a crumb or two, give all the tax cuts to the rich and powerful and have democrats go along with it. >> how will this bill be different from what the house is putting forward? >> as of now, what we have been led to believe is after the legislation gets out of the house ways and means committee, chairman hatch intends to lay
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down his own mark. now he has been part of this gang of six, so we don't know what he'll do. my hope is that he will see over the next few days, how many of his constituents in utah get hurt, how damaging this is to the middle class. how harmful it is to students, he'll say i don't want to go that route. now i can't tell you what the odds are, but one of the reasons that we are going to be working around the clock right now, particularly with this unheard of concept where rich neil has got to have a markup of a bill on monday with virtually no information. bill bradley called up the other day, friend of always of ours, and was intimately involved in the '86 bill. i explained to him what was going on, he was just
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incredulous, because in the finance committee, they took days and days to try to find common ground. they were on the floor of the senate for weeks in an effort to try to come together. and the point i just made to chairman hatch as i said, you know, if you decide you won't accept our principles, focused on the middle class, not on the people at the top, not wrecking social security and medicare, you aren't going to get a bipartisan bill. and if you just pass this on a partisan offramp only, you might get -- you might be able to get a sugar high, but you're going to see that you and your party have a lot of problems in the days ahead. so what we're trying to do is generate as much visibility and focus on what this bill actually does so that after rich neil and
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ways and means committee do everything they can, we can build on it and hopefully in the senate produce something different. >> i have an infrastructure question. the house republicans are proposing to eliminate private activity bonds which are used for airports, are used for a lot of other things and congressman neil, you're part of the democrats who were here earlier this week, about emergency activity bonds. it's stimulus, it's like build america bonds, exactly, it's stimulus, and anybody who's been to an airport in america, anything that's been expanded recently over the last four or five years, it was either build america bond or lifting the cap on the private activity bonds. when you go through municipalnemunicipal
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nemunicipal -- i can't wait until mayors and others begin to take a look at this information. >> may i just say on this whole score, because the leader talked about the deficit, and that's been a big problem. many americans just want to know what it means to them in their lives and it's bad news. but in terms of our country and our responsibility the increase in the national debt in the next 10 years is huge. but it's a hemorrhaging bill. those of you who care about deficit, and we supposedly have deficit hawks in the congress, but as i said before, they're becoming an endangered spee eed if they care, we have to do health care, the first ten years, the second ten years are very detrimental to our country. there's almost no turning back
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from what they want to do. we have to stop them now. >> one other point related to your question. >> i'm going to excuse myself because we have three former members of the house. >> both class of 1980, another issue about jobs, not only private activity bonds, getting rid of them will hurt jobs, thousands and hundreds of thousands of construction jobs. but housing is hurt badly by this. that's why the realtors are against it. that's why the home builders are against it. i just saw a reuters story, that said the home building index, the index of companies that have to do with homes, furnishings and everything else, 1/6 of our economy went down after this building index.
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those building roads and bridges and stadiums and things like that, they're not for it. and the job gains and the things they're going to get. we have the head of the democratic leader of the kansas legislative leader, who have the experience, when sam brownback, governor, and charles koch, richest member of kansas, made proposals and it was a disaster. they not only put kansas any a huge deficit, but they cut back on services, some school districts had to go to four days a week. and they lost their elections. you know, in a certain sense, this is a win-win for us. god forbid they pass this awful bill, they'll pay a huge price. they'll pay a huge price because the public will know it a year from now.
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just like health care, we thought maybe if they even pass health care, they would pay a price, because it would hurt so many people. but we know how bad this is for the country and that's why we're going to fight it. >> as far as the state and local tax deconduductions are concern how much responsibility do the state legislatures of california, new york and new jersey really have? because these are highly taxed states. >> they made a choice, you go to long island, they have great education, they're willing to pay more taxes for education. that should be their choice and they shouldn't have to pay double tax because that's their choice. our republican friends stay generally on state's rights. >> senator schumer, question, earlier today, president trump said the members of the republican senate have talked about immigration and
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specifically the daca issue. he does not want the daca issue to come up in the spending bill in december. >> i'm going to wait and talk to some of my republican colleagues who are in the room before reacting. i have only heard news reports. >> senator harris and others have talked about not supporting the bill if daca -- >> we expect it will pass, because we have a lot of republican support for this bill, and i think it's going to do better than some people think, no matter what donald trump says on one given day or another. >> i wanted to ask you about your reaction to the donna brazil article -- >> somebody asked me already -- i. >> do you believe there eegsz corruption in the dnc? >> i'm going to read the article. last one.
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>> is it going to be tougher to get any kind of concessions on salt from the senate and the house because there's nobody from the high tax states? >> i think s.a.l.t., while many senators dislike it, will have more -- it will cause -- there will be more house members reluctant to vote for the bill because of s.a.l.t. and senate members. it's sort of an interesting dynamic. in the senate you have a lot of deficit hawks, in the house, on the hard right, which used to be a deficit hawk whenever there was any spending bill, has seemed to have given that up. so it's a different dynamic, but it's a dynamic that makes it harder to pass the bill, because what you have to do to win over the house, makes it harder to wing over the senate. thank you, everybody.
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>> if you would like to read the republican bill go to our white house economic council gary cohn talked be it the tax proposal, this is about 345 minutes. >> can i have your attention, please? okay. so can everybody please sit down? thank you. >> does that include me? >> you can


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