tv U.S. House of Representatives U.S. House Budget Tax Reform Debate CSPAN October 26, 2017 5:51pm-7:15pm EDT
>> they were shoving and jostling. their target was charles murray. and i was a little bit behind him. it kind of intensified it. looked like he was going fall to the ground. at the time he was a 74-year-old man. so i did what any decent human being would do when you see a 74-year-old man on the verge of falling to the ground. i grabbed him by the arm. both to make sure he didn't fall, but also i was afraid of -- it was a large -- i don't know how many. but i was really fearful of being separated from them and being left behind. so i took his arm and when i did that, that's when all turned on me. somebody pulled my hair, somebody body slammed me from the other direction. >> discussion of the violent protests on the campus last march following a scheduled lecture by political scientist charles murray. watch professor allison stanger sunday night at 8:00 eastern on c-span's q&a.
>> earlier today, the u.s. house debated the 2018 budget resolution which sets overall 2018 federal spending at $1.13 trillion. the measure also requires committees to work on tax reform. the house passed the bill 216-212 after the senate approved it last week. we'll show you the house floor debate from this morning. it's an hour and a half. tennessee. from mrs. black: thank you, mr. speaker. i yield myself such time as i may consume. tennessee. mrs. black: thank you, mr. speaker. i yield myself such time as i may consume. i rise today in support of senate amendment house concurrent resolution 71, the budget resolution for fiscal 2018. passing a budget is never easy and has once again been a challenge this year. but i am encouraged with where we're now and i am pleased that the senate did its work by approving a budget. one that we can support in order to unlock tax reform for the american people. without question there are plenty of things that i wish were included in what the
senate passed. ideas that the house put forward earlier this month when we approved our budget. for example, i still feel strongly about addressing unsustainable mandatory spending, and that hasn't changed. the growing burden of debt caused by mandatory spending is a real problem that cannot be ignored. we owe it to the american people to do something to offer serious reforms that ensure government programs are financially sustainable and working well for generations to come. and i think we will tackle this important issue in the future. a choice.don't have but despite any shortcomings of the senate passed budget, i am encouraged that it does reflect the shared priorities of both chambers. moving forward with this budget by our upported president. i want to remind my colleagues that before final passage last
week the senate did include numerous provisions previously passed by the house. and i was proud to be involved in those negotiations with the leaders of the house, the senate, and the white house. for example, the senate passed budget creates a mechanism that would permit the budget committee chairman to adjust the budget allocations if there is future legislation signed into law that revises the b.c.a. spending caps. the senate passed budget also includes numerous improvements to the house budget's enforcement that are designed to strengthen fiscal discipline . because we work together to find common ground, we can move ahead towards tax reform and expand upon the ideas in the conservative framework unveiled last month. throughout nearly my seven years as a member of the house, republicans have talked about modernizing our outdated and overly complicated tax system, and today we have the opportunity to take that next big step to unlock tax reform for the american people, fulfilling the promise that we made long ago to our
onstituents. by advancing tax reform, we can help americans keep more of their hard-earned paychecks. we can by advancing make it possible f st americans to file their taxes on a taxes on a simple postcard. we can level the playing field for business and help them tax e reforming our system for the first tax system for the first time in
nearly three decades. president trump is with us on this and i agree that we must move quickly. and that's why i urge my colleagues to pass this budget today. thank you, mr. speaker. i reserve the balance of my time. the speaker pro tempore: the gentlewoman reserves. the gentleman from kentucky is recognized. mr. yarmuth: thank you, mr. speaker. i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. yarmuth: mr. speaker, the bill we're debating today is not a real effort at responsible budgeting. it is a means to an end. a single-minded plan to make it easier to enact tax cuts for the wealthy and big corporations, regardless of the consequences for everyone else. if approved by the house today, an irresponsible $1.5 trillion tax bill will come to the floor in the-n a matter of weeks. it is being rushed because republicans don't want the american people to know what's in t they don't want you to find out that it overwhelmingly benefits the wealthy while increasing taxes on billions of middle class families. rushing through legislation thame pacts nearly every american family and business is reckless, and voting on a bill that rewrites our nation's tax code a week or two after it is introduced without any real input from the people who will
impact is neglect. that's -- negligent. that's what you do when you can't defend your own policy, and there's a lot of unjustifiable provisions in this budget. . it cuts vital national investments, threatening our progress and national security. it cuts more than $4 trillion in mandatory spending, including nearly $2 trillion from medicare and medicaid alone. the enormity of these cuts and the severity of the consequences for american families cannot be overstated. but more cuts will be coming once the republican tax cuts blow an enormous hole in the budget. we will see a tax on medicare, medicaid, social security, nutrition assistance, on important benefits that help american families get ahead. i know my republican colleagues desperately want to believe that the tax cuts in their budget will pay for themselves and usher in a new era of economic growth, or at least they want the american people to believe that.
but the record is clear. this approach has failed time and time again. and now even though the evidence and experts have concluded that these tax cuts will not create an economic boom but will instead lead to a higher concentration of wealth among the rich while dramatically increasing deficits and debt, my republican colleagues are trying to do it again. everything we do in congress should be about making the lives of american families better and more secure. we owe them a budget that invests in their future, a tax code that is fair, and a full and honest debate on both. this budget and the tax cuts that will follow are a failure on all fronts. i therefore urge my republican colleagues to abandon this dangerous budget and start addressing the needs and priorities of the american people. i reserve the balance of my time. the speaker pro tempore: the gentleman reserves. the gentlewoman from tennessee is recognized. mrs. black: mr. speaker, i ask unanimous consent that all members may have five legislative days to revise and extend their remarks and to
include extraneous material on the senate amendment to house concurrent resolution 71. the speaker pro tempore: without objection. mrs. black: it is now my honor to yield two minutes to the gentleman from texas, mr. smith. the speaker pro tempore: the gentleman is recognized for two minutes. juju smith-schuster mr. speaker, first of -- mr. smith: mr. speaker, first of all, i want to thank the chairwoman for yielding me time. mr. speaker, we need to pass this budget, not only to rein in out-of-control spending but also to give congress the go ahead on much-needed tax reform. we need to reduce the tax burden on hardworking americans. the typical household in the 21st district of texas pays over $15,700 in federal taxes. past experience shows that tax relief generates strong economic growth. it enables americans to save, invest, create jobs and spend more of their income. our vision of tax reform benefits families across america. for example, in my congressional district, 1/ of households utilize the -- 1/6
of households utilize the tax credit. ncreasing this will allow them to use it on school supplies and other things families need to raise a child. let's have a more prosperous future rather than paying more of their hard-earned money to the federal government. i yield back. the speaker pro tempore: the gentlewoman reserves. the gentleman from kentucky is recognized. mr. yarmuth: mr. speaker, i am happy to yield 1 1/2 minutes to the gentlelady from washington, a distinguished member of the house budget committee and ways and means committee, ms. delbene. the speaker pro tempore: the gentlelady is recognized for 1 1/2 minutes. -- del bell: ms. delbene: i rise in opposition to this resolution. our top priority in congress should be helping expand opportunities, opportunities to
sustain long-term economic growth and security so no american is left behind. unfortunately, the bill we're voting on today is not a serious budget designed to help middle-class families. instead, this budget is simply a vehicle to rush through a partisan tax proposal, using a process known as reconciliation. and what's worse, the ryan-mcconnell tax plan would add trillions of dollars to the deficit, making our children foot the bill for tax cuts that disproportionately benefit the wealthiest. in fact, the tax policy center has estimated that the ryan-mcconnell tax plan could ise taxes by an average of $1,209 a year on families earning between $50,000 and $150,000 a year. this is moving in the wrong direction. i urge my colleagues to vote no, and i yield back. the speaker pro tempore: the gentlewoman yields. the gentleman from kentucky reserves.
the gentlewoman from tennessee is recognized. mrs. black: thank you, mr. speaker. it is now my honor to yield two minutes to the gentleman from south carolina, mr. norman. the speaker pro tempore: the gentleman from south carolina is recognized for two minutes. mr. norman: i today in strong support of the fiscal year 2018 budget resolution which is a critical step, first step to achieving comprehensive tax reform and making the american economy great again. i also applaud chairman diane black for her leadership in producing this budget. our nation has not significantly reformed our tax code in more than three decades, which has allowed the tax code to explode in complexity and unnecessary burden on hardworking american families and businesses. moreover, while the united states is a world leader in innovation and entrepreneurship, we have failed to reduce our corporate tax rate which stands at 35%, the highest in the developed world. and i would add corporations don't pay tax, the american
people pay tax. unineed framework unveiled earlier this year will simplify the tax code for everyone. it will eliminate wasteful tax loopholes and reduce taxes on businesses. i am also pleased to see the plan eliminates the death tax on farmers and moves to full expensing. under this plan, the average family will see an increase in income between $4,000 and $9,000 annually. while i believe this budget is necessary to spur economic growth and increase wages, i am extremely disappointed the senate removed the $302 billion of mandatory spending cuts giving the challenge our national debt poses to the great united states. however, we should not make the perfect the enemy of the good, and i ups that issues as complex as the -- understand that issues as complex as the budget and tax reform will require compromise. i appreciate the leadership of speaker ryan, chairman brady and the rest of the leadership team for their hard work on tax
reform and i look forward to working with my colleagues to moving tax reform over the finish line and to president trump's desk. i yield back. the speaker pro tempore: the gentleman yields. the gentlewoman from tennessee reserves. the gentleman from kentucky is recognized. mr. yarmuth: mr. speaker, i'm happy to yield 1 1/2 minutes to the gentlelady from washington, a distinguished member of the budget committee, ms. jayapal. the speaker pro tempore: the gentlelady is recognized for 1 1/2 minutes. ms. jayapal: mr. speaker, i rise in strong opposition to this fiscal 2018 budget resolution for a number of reasons. not the least of which that the underlying assumptions are grossly misleading. it assumes fictions like hundreds of billions of dollars from the repeal of the affordable care act, and it assumes an economic growth rate of 3%, which most economists on both sides do not believe is possible. this budget is merely a vehicle for republicans to fast track tax cuts for millionaires, billionaires and large corporations. any assertion of cuts for working families is debunked by
experts like leonard berman, co-founder of the tax policy center, which calls this utterly implausible. mr. speaker, the facts are this. 80% of the republican tax cuts go to the top 1% by 2027. the average tax cut for the top $207,000. will be 42 million middle class households will face a tax increase, including those earning between $50,000 and $150,000 who will see a tax increase of 1/3. that's what this budget lays the path forward. let's look at kansas, a place where republican legislature has rolled back the tax cuts that they passed from several years ago because they simply didn't work and put kansas' economy into a downward spiral. we know who wins under this budget resolution. simply paves the way for a huge tax cut for the wealthiest millionaires, billionaires and corporations. that's wrong and i urge a no
vote on this budget. thank you and i yield back. the speaker pro tempore: the gentlewoman yields. the gentleman from kentucky reserves. the gentlewoman from tennessee is recognized. mrs. black: thank you, mr. speaker. it is now my honor to yield three minutes to the gentleman from california, also a member of the budget committee, mr. mcclintock. the speaker pro tempore: the gentleman from california is recognized for three minutes. mr. mcclintock: i thank the gentlelady for yielding. mr. speaker, unsustainable government spending drives both taxes and debt. the budget resolution sets the spending architecture for the fiscal year. the house version provided for $200 billion of enforceable mandatory spending reductions over 10 years and balanced within the decade. the senate amendments gut these provisions. squandering the one opportunity congress has each year to bring mandatory spending under control, taking us another year closer to a sovereign debt crisis. i condemn it in the strongest terms. the senate, though, has retained just one key provision
from the house budget. it makes tax reform possible this year. tax reform is essential to economic growth and economic growth is essential to confront our debt. now, many are alarmed it provides for $1.5 trillion of additional debt, but this is do solely to the senate rules that require tax cuts to be scored only as revenue losses without taking into account economic expansion. during the obama years, our economy grew at an average of 1.5% annually. that's about half the average rate since world war ii. reagan averaged 3.5%. reagan did this by reducing the tax burdens that were crushing our economy. he slashed the top income tax rate from 70% down to 28%, and income tax receipts nearly doubled because of the economic expansion he unleashed. taxes driven by spending are
the greatest threat to our economy today, and debt driven by spending is the greatest threat to our future. controlling spending is currently impossible in the senate, so it's obvious that we can't balance the budget and reduce our debt without significantly increasing economic growth. we can't increase economic growth without tax relief, and we can't get tax relief without the provisions in the senate budget. arthur lapper, the architect of the reagan tax policy, forecasts that the corporate tax reform alone will increase g.d.p. growth at a rate that should generate a temporary bump of 5%, settling down to an average of 2.6% over the decade. this will add $5 trillion to the american economy and directly increase revenues to all levels of government between $1.8 trillion and $2 trillion. now, we tried the static approach to tax policy during the obama years. the economy stagnated, and the
debt doubled. i remember what it was like in the reagan era. wages were rising, opportunities for better jobs were everywhere. there was a sense of optimism that comes with prosperity and abundance. when we abandon these policies we lost that prosperity to a decade of despair. i want my kids to know what sense of relief and optimism was like, what it feels like when morning dawns again in the american economy. this resolution starts that transformation, and i urge its adoption. the speaker pro tempore: the gentleman yields. the gentlewoman from tennessee reserves. the gentleman from kentucky is recognized. mr. yarmuth: mr. speaker, i should remind the prior speaker, my friend from california, that arthur was also the architect of the kansas plan which was disastrous for that state, so citing him as a source, i'd be a little bit careful. i am happy to yield 1 1/2 minutes to the gentlelady from california, distinguished member of the budget committee and the appropriations committee, ms. lee.
the speaker pro tempore: the gentlewoman is recognized for 1 1/2 minutes. ms. lee: thank you very much. i want to thank the gentleman for yielding and for his tremendous leadership and also just very briefly, i just want to mention to my colleague from california on the other side, i remember the reagan era tax cut period also. and there was a huge rise in homeless veterans as a result, unfortunately. i rise in strong opposition to the so-called budget plan. i know that our budget shapes our national priorities and values, but the republicans have put forward a budget that i think is downright sinister. this budget is morally bankrupt. it's a trojan horse that steals health care from children and rips food from the hungry just to fast track $1.5 million in tax breaks to billionaires and corporations. budgets are moral documents. they should not be rigged in favor of special interests and the wealthy few. but the cruel and, yeah, it's a
crooked republican budget. it does just that. our nation's budget should prioritize working families and the middle class, too many of whom are making low wages and living blow the prompt line. it should a-- below the poverty line. it should spur job education and job training. instead, this republican budget creates tax cuts for millionaires, billionaires and corporations. our budget should expand to protect health care for all. instead, this budget steals nearly $2 trillion from life-saving medicaid and medicare. and with nearly 40 million americans living in poverty, our budget should invest in communities of color and rural communities which have higher rates of poverty. simply put, the house republican budget would push more people into poverty, it slashes programs that help create good-paying jobs for struggling families. it's a shame, it's immoral, it's un-american and i hope we defeat it. the speaker pro tempore: the gentlelady's time has expired. the gentleman from kentucky
reserves. the gentlelady from tennessee is recognized. . mrs. black: i must make a comment what went on in kansas and the attribution that this was mr. laffer's idea. i know him personally and have had a conversation with him about his plan and suggestion. it was not followed. i do want to lift up his good name and say his plan was not followed. with that i would like to yield two minutes to the gentleman from georgia, mr. allen. the speaker pro tempore: the gentleman from georgia is recognized for two minutes. mr. allen: thank you, mr. speaker. i want to congratulate our chairman black on the markup of this important piece of legislation. i want to as we all know, tax season is the worst. evokes images of stress, american families sending hard-earned money to the federal government. i for one have never been excited when it is tax season.
as a business owner, it took on a whole new meaning. taxes affect all americans, but tax season shouldn't include months and months of , often required to hire tax professionals. our tax code is broken and millions of americans are looking to us to fix it. that's why republicans have released the unified tax reform framework to provide relief for hardworking americans and jump-start our economy. first it lowers taxes at every income level, allowing americans to keep more of their hard-earned paychecks. it delivers the lowest tax rates in modern history for job creators, allowing them require hire tax professionals. our tax code is broken and millions to invest in growing their business. i remind you the small business community is responsible for 7 oers -- 70% of all new jobs created. the vast majority of taxpayers will no longer have to deal with the complexity of itemizing due to the increased standard deduction. small business also no longer
be taxed under the individual side of the code. families will no longer be penalized for inheriting family property or businesses, which he death -- when the death tax is removed. finally, we'll cut tax rates on personal savings and investment in half. americans should invest in their local economies and build towards a more financially secure future without exorbitant taxes. now is the time for tax reform, and today we take a big step towards action. we must pass this budget. hardworking americans across same tion will have the
april 15 they always have if we don't. and that is unacceptable. we same april 15 they always have if we don't. and that is unacceptable. we cannot miss this opportunity. president trump is with us on tax reform and we must act for the american people. the speaker pro tempore: the gentleman's time has expired. minutes to the gentleman from pennsylvania, mr. boyle. the speaker pro tempore: the gentleman is recognized. mr. boyle: i rise to oppose the billionaire's budget. that's exactly what the republican budget 79.7% of it goes to the richest 1%. on top of that, who pays for it? the middle class and working class families of my district. some 50 million americans will be paying more in taxes not less as a result of this tax plan. i have nothing against the billionaires that my friends on the other side are so eager to help. i just don't think the working class and middle class families of my district should be paying for their tax cut. we should instead have a budget that focuses on building the middle class out. lifting up those who have
been working for the last 15 years and not getting a pay increase. this budget does absolutely nothing for those families. zero. and on top of all of been working for the last 15 years and not getting this, it adds $1.5 trillion to our national debt. it is wrong, it does not do anything to help the great american middle class. and it must be rejected. with that i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from kentucky reserves. the gentlelady from tennessee is recognized. mrs. black: thank you, mr. speaker. it is now my honor to yield two minutes to a member of the budget committee, mr. johnson from ohio. mr. johnson: thank you, madam chair, thank you, mr. speaker, for the time. i hear it alt time and it's just a -- all the time and it's just a false narrative this. idea that the tax reform package presented by republicans is only a tax relief for the wealthy and that the middle class and low-income families are not going to
benefit from it, it's just absolutely untrue. we're talking about doubling the standard deduction. millions of americans aren't even going to pay any taxes. that's particularly important in rural areas like i represent in ohio. and so i would urge my olleagues, let's stop this false false narrative that says that this is just a tunth for the for the tax cut wealthy because that's not true. when you cut taxes on businesses and corporations, who pays those taxes, mr. speaker? it's the american people who buy for the wealthy because that's not true. when you cut taxes on businesses and corporations, who pays those taxes, mr. speaker? it's the american people who buy the products that pay those
taxes. when they get a break, everybody wins. but the adoption of the senate amendment to the house passed budget that we're going to vote on today paves the way for tax reform. it's for the wealthy because that's not true. when you cut taxes on establish to balance through restrained spending, reduced taxes, and economic growth. it's going to allow for higher defense spending contingent on future adjustments to discretionary spending caps or defense and national security. but it begins to address our national debt. it reduces nondefense discretionary spending by over $600 billion over 10 years. it assumes more than $4 trillion in mandatory savings over 10 years. and it provides for budget endorsement in the house in order to strengthen fiscal discipline. madam chair, mr. speaker, this is a responsible path forward. the american people are he screaming -- are screaming for fairer, flatter tax code, one that makes american workers competitive, one that lets the american people keep earn in their ey fairer, flattx pockets. with that i urge my colleagues to support today's vote, pass this budget amendment, and let's get on to tax reform. with that i yield back. the speaker pro tempore: the
gentleman's time has expired. the gentleman from kentucky is recognized. mr. yarmuth: mr. speaker, i yield 1 1/2 minutes to the south carolina, the assistant democratic leader, mr. clyburn. the speaker pro tempore: the gentleman from south carolina is recognized. mr. clyburn: thank you, mr. speaker. i thank my friend for yielding me the time. mr. speaker, the document before us is a partisan exercise to deliver large tax cuts to the wealthy. working americans will see their tax goes up and our children and grandchildren will have to pay back the debt republicans will create to finance these tax cuts. while they promise the american people revenue neutral tax reform that will simplify the tax code and close costly loopholes, the budget they are ramming through will borrow $1.5 trillion to finance these cuts. t will precipitate cuts to medicare, medicaid, and other safety net programs upon which middle income families depend. it proposes to eliminate the
deduction for state and local taxes. increase the tax burden on over 500,000 people in my home state of south carolina. this document threatens to earned income tax credit and lowers the ceiling on middle income savings and eliminates inheritance tax which only affects those with estates valued over $11 million. it creates a pass-through for businesses that pay zero corporate taxes effectively giving the owners of these companies a lower individual rate than the people they employ. if the republicans would engage us, we could produce a bipartisan tax plan that would expand the earned income tax credit for single individuals and the child tax credit for working families. we could produce a bipartisan
tax plan that woned -- would end the preferential team of investment income which undermines working americans while enriching wealthy investors. we stand ready to engage with the other side. until then, we will be resolute in our opposition to this unfair, immoral document. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlelady from tennessee is recognized. mrs. black: thank you, mr. speaker. it's my honor to yield two minutes to the gentleman from florida, member of both our budget committee anti-appropriations committee, mr. diaz-balart. the speaker pro tempore: the gentleman from florida is recognized. mr. diaz-balart: thank you, sir. i want to first thank the chairwoman for a phenomenal job. look, our current fiscal environment according to the c.b.o., they project the growth of our economy will be 2% or less. for the next decade. i'm reminded of what a good friend and colleague, democratic colleague in the budget committee said one day, that 3% growth, that's just a dream.
unrealistic. yet before the storms hit what did we see as far as our economic growth in the country? 3.1% economic growth. something that one of our colleagues, democratic colleagues, said was a pipe dream. and this is in large part because of excessive regulations have been curtailed by both the administration and t before the by congress. but to keep that momentum we need to pass tax reform. it will lead to a sustained strong economy. it will again lower the burden, tax burden to our families. it will lead to increased wages for families, for the middle class, for individuals for the first time in such a long time. allowing the american people to keep more of their hard-earned money. it would make small and large and mid-sized businesses more competitive so they can create and additional -- millions of additional jobs here in the united states. mr. speaker, this legislation will allow us to do real tax
reform to keep the economy growing, to get the economy going, to get the american people working again. and this is an essential part. so i would urge for everyone's support. with that i yield back, thank you very much. the speaker pro tempore: the gentleman yields back. the gentleman from kentucky is recognized. mr. speaker, i yield 1 1/2 minutes to the gentleman from california, distinguished member of the budget committee, mr. carbajal. the speaker pro tempore: the gentleman from california virginia tech. mr. carbajal: thank you ranking member yarmuth. snake oil. ake oil is all that this republican budget will give to the american middle class and working families. this republican budget before congress is squarely aimed at ramming through republican without bipartisan consensus or input. this proposed tax plan will , adding ur deficit a tax plan
$1.5 trillion over the next decade. and it leaves the middle class stuck, footing the bill with an increase in their annual federal taxes. in fact, 80%, 80% of the tax cuts $1.5 trillion plan benefits onl the wealthiest 1% of americans. that means those benefits are geared towards those earning $900,000 a year or more. one in three middle class families making between $50,000 and $150,000 will see their taxes go up. one proposal that republicans eliminating the state or in ths and local tax their plan deduction. this will cause central coast homeowners and families in my district over $15,000 a year, on average. as a mefment budget committee, i encourage my colleagues to -- as a member of the budget committee, i encourage my colleagues to reject this plan
nd get to work on bipartisan negotiateations for lasting tax reform that negotiateations for lasting tax reform that benefits middle class families. i yield back. the speaker pro tempore: the gentleman yields back. the gentlelady from tennessee is recognized. mrs. black: thank you, mr. speaker. there's an old saying, the devil's in the details. though details have not been released yet. so it is difficult for me to understand how my colleagues on the other side of the aisle make assumptions on just what this tax plan will do, calling it things such as snake oil when i can assure you that as a member of the ways and means committee it is our goal and intent that the people in the middle and low-income categories will see a tax relief. also want to remind them that what we know was the devil in the details is the details given to the american people a number of years ago on the affordable care act, which is neither affordable or caring, in my opinion, on which people would see a return of about $2,500 on the average in their pocket. as a result of the fracts --
affordable care act's policies. what we saw and what we're seeing now is a big increase in those premiums. certainly they have not received $2,500 in their pocket. they were told they could keep their doctor, which we knew wasn't true. and the other kinds of things that were done that caused people to lose their insurance. in my very own state because we had a plan that people liked and people wanted to keep and could not because of the mandates put on by the affordable care act. i want to remind them, my friends from the other side of the aisle, that maybe the thing to do is to wait and see what plan because he the devil is in the detail. i think you may like it enough that you perhaps will even vote for this tax plan that does give a jolt to the economy and does help the american people, especially in the lower and middle income, to keep more of their hard-earned dollars in their pockets w that i reserve. . the speaker pro tempore: the gentlelady reserves.
mr. yarmuth: i am happy to yield 1 1/2 minutes to the gentlelady from florida, a distinguished member of the budget committee, ms. wasserman schultz. the speaker pro tempore: the gentlelady is recognized. ms. wasserman schultz: thank you, mr. speaker. i thank the gentleman for yield. to my friend on the other side of the aisle, the gentlewoman from tennessee, the reality is the truth hurts. this budget resolution totally abandons america's most cherished values and betrays its highest ideals. this extreme budget not only threatens programs for our veterans and hungry children, it makes drastic cuts to the medicare and medicaid programs hat our seniors count on for survival. this resolution hands massive tax cuts to millionaires and powerful corporations, all while adding $2.4 trillion to the deficit over the next decade. it also fails to protect our environment, neglects our children's education and once more targets women's health care for severe cuts. in short, the wealthy win, the middle class is ignored, and we
all get saddled with more debt. those are not values that this house should stand for. it's certainly not what veterans, children, seniors or hardworking americans deserve. this irresponsible budget rewards the rich and powerful and punishes everyone else. and that's the best thing that i can say about it. and with that i urge a no vote and yield back the balance of my time. the speaker pro tempore: the gentlelady yields back. the gentlelady from tennessee is recognized. mrs. black: reserve. the speaker pro tempore: the gentleman reserves. the gentleman from kentucky is recognized. mr. yarmuth: mr. speaker, i now am happy to yield 1 1/2 minutes to the gentleman from new york, a distinguished member of the budget committee, mr. jeffries. the speaker pro tempore: the gentleman from new york is recognized. mr. jeffries: our house democrats are focused on delivering better jobs, better wages and a better future for the american people. house republicans have once again presented a budget that's reckless, regressive and reprehensible. it is a billionaire-first,
middle class-last tax plan. it will not help the middle class. the house republican budget and tax proposal will hurt the middle class by raising taxes on working families and middle-income americans. the house republican budget and tax plan is nothing more than a wolf in sheep's clothing. it will benefit the wealthiest and the well-off here in this country, 80% of the tax cuts proposed in the ryan-mcconnell plan will go to the wealthiest 1% in america to millionaires and billionaires, to the privileged few, to special interests, corporations. it will not lead to economic growth. it will saddle this country with trillions of dollars in additional debt and deficit. and you know, it's based on a phony, fraudulent and failed
theory of trickled down economics, which i finally figured out what it relates to in terms of the middle class. you may get a trickle but you're guaranteed to stay down. stay down because they're going to undermine your medicare. stay down because they're going to undermine social security, and stay down because they're going to saddle your children with trillions of dollars of additional debt. reject this plan. it's a bad deal for the american people. they deserve a better deal. the speaker pro tempore: the gentleman's time has expired. the gentlelady from tennessee is recognized. mrs. black: thank you, mr. speaker. and now it is my honor to yield two minutes the distinguished gentleman from illinois, a member of the ways and means, mr. roskam. the speaker pro tempore: the gentleman from illinois is recognized. mr. roskam: thank you, mr. speaker. madam chairman, i'm also tempted to yield time to my friend from the other side of the aisle, just keep driving the expectations of any tax relief further and further and further into the ground.
and i think people are going to be surprised and delighted with ultimately what the house ends up considering. here's why i'm here. this is a prelude to tax reform. we vote on this, we then make it so no single political party is able to deny a vote on tax reform and both parties can come to the table and try and negotiate something that's thoughtful. because here's what we know, it's the current tax code that is benefiting people that everyone is scanned liesed they're benefiting. it's the current tax code that allows corporations to have trillions of dollars off-shore. it's the current tax code that's so stifling and so difficult, and it's the current tax code that nobody can defend. there is not a single person on this floor that is going to say, oh, the internal revenue code, i love that, mr. chairman. just leave it the way it is, because it's a disaster, and nobody likes the i.r.s. so rather than moaning and growning and having posters and
his and that -- groaning and having posters and this and that, let's have something transformational. let's not have shabby phrases from the past but they are looking for to us lead and bring people together and that's what we're trying to do. there's a nettlesome issue that's affecting my state, a high tax state, and a lot of other folks and how we deal with state and local tax deductibility. i have a view that this does not mean a redistribution from one part of the country to another but it means tax relief for everybody. and so i think what we're looking for is to create middle-class tax relief. if the gentleman's expectation is we're, you know, are that low, i think he's going to be pleased with what we ultimately are able to come up with. so mr. speaker, i urge an aye vote. i thank the gentlelady for the time, and i look forward to passing this resolution and move forward to changing our
tax code. i yield back. the speaker pro tempore: the gentleman's time has expired. the gentleman from kentucky is recognized. mr. yarmuth: mr. speaker, i'm happy to yield one minute to the gentleman from michigan, a distinguished member of the ways and means committee, mr. levin. the speaker pro tempore: the gentleman from michigan is recognized. without objection. mr. levin: mr. speaker, the republican budget politically paving the way for their tax reform proposals can best be described as an elicks irof elixor of growth, and history has shown that a huge tax cut primarily for the very wealthy and large corporations does not promote growth and will make life harder for the middle class and everyone else. this budget calls dangerously for raising our debt by $1.5 trillion, creating a future deficit tax for middle-income families, cutting medicare by
nearly $500 billion, cutting medicaid and other health programs by $1.3 trillion, and assuming $4 trillion in cuts to a broad range of programs which could include education and health research. vote no on this budget. i yield back. the speaker pro tempore: the gentleman yields back. the gentlelady from tennessee is recognized. mrs. black: thank you, mr. speaker. it is now my honor to yield two minutes to the gentleman who is the chair of our committee, the distinguished member from north carolina, mr. walker. the speaker pro tempore: the gentleman from north carolina is recognized. mr. walker: mr. speaker, i am torn as i rise today. first, there's no question i will vote in favor of the budget, encourage my colleagues to do so because there's no doubt this is the best way forward to achieve tax reform and unlock the promise of bigger paychecks, more jobs and eturn of investing in america.
however, must also include the senate did not do its work. after months of hard work by chairman black and the budget committee, the house was able to get it done. even acknowledging the difficult position of our country that put us on a balance -- on a path to balance in less than a decade. the house's budget included reconciliation instructions to speed up the enactment of $203 billion in mandatory savings, and the house budget included instructions that allowed us for the first time to stay on the path to repeal the obamacare, to help those that continue to suffer with rising premiums in the individual market. i would guess that nearly every republican in the chamber agrees that house's budget is superior. so why are we voting on the senate's? because our senate colleagues seem allergic sometimes to making tough choices. why will the senate budget's pass? well, because the american people need tax relief. families and small businesses
wrestle with an outdated and complicated tax code every year. it is true we do have a once-in-a-generation opportunity. the corporate rate mean capital and resources are held outside of the united states and not invested here. making our tax code fairer and simpler will bring this capital back to the market and jump-start investment and growth like we have rarely seen in the united states. despite my ongoing and deep frustration sometimes with the senate, i encourage my colleagues to pass this budget and bring the promise of more jobs and bigger paychecks closer to reality. i am pleased by the speaker's commitment, the house will vote on important fiscal legislation in the form of balance budget amendments, some other deficit reducing legislation. bottom line, it is vital the house fulfill its promise to the american people. with that i yield back. the speaker pro tempore: the gentleman's time has expired. the gentleman from kentucky is recognized. mr. yarmuth: thank you, mr. speaker. i now am happy to yield 1 1/2 minutes to the gentlelady from texas, a distinguished member of the budget committee, ms.
jackson lee. the speaker pro tempore: the gentlelady is recognized. i thank the e: gentleman. the american people will look forward to a thanksgiving and a christmas of which families come together, but they'll also see a halloween. today on the floor of the house, the republicans vote for the worst halloween of hob goblins and ghosts. monsters scare children, and so today we will be voting on that monster that will scare children. let me let you listen to senator sykes from kansas. her state offering a republican tax cut that was going to boost the economy. her words are, with the benefit of hindsight we can say with certainty this promise was unfulfilled. in the following five years kansas experienced nine rounds
of budget cuts, stress on state agencies and the inability to effectively provide the core functions of government for our citizens. what do you think will happen to this nation if we vote for this budget plan, this halloween of a plan? latest republican budget mandates $4.9 trillion in spending cuts. mr. speaker, i cannot vote for this. i cannot vote for it because of the people in texas after hurricane harvey, the people in louisiana after hurricane nate, people in puerto rico after maria and irma and the virgin islands and florida. i cannot vote for this. this will gut disaster relief, education, infrastructure, research, veterans' benefits, and it will clearly provide cuts taxes for the rich. the republican budget provides $1.6 trillion in tax cuts to millionaires, billionaires, wealthy corporations. it doesn't give any money to the middle class. it provides an explosive
deficit. does the gentleman -- mr. yarmuth: i yield 15 seconds. ms. jackson lee: i thank the gentleman. it explodes the deficit. how could this happen? it demands higher, higher cuts to medicare, social security and education. this is a halloween america will not tolerate, and my good friend from north carolina, there will be over a million people that will lose benefits under this plan that they are planning. they will pay higher taxes. this is a bad bill. the speaker pro tempore: the gentlelady's time has expired. the gentleman reserves. the gentleman from kentucky reserves? mr. yarmuth: mr. speaker, i yield -- the speaker pro tempore: the gentlelady from tennessee is recognized. mr. yarmuth: oh, i'm sorry. the speaker pro tempore: thank you, sir. mrs. black: thank you, mr. speaker. it's now my honor to yield two minutes to the gentleman from texas, mr. flores. the speaker pro tempore: the gentleman is recognized. mr. flores: i thank chairman
black, and i want to thank her and her committee for all of the great work they have done and putting forth a budget that moves america in the right direction. mr. speaker, i have been astounded by the rhetoric that i have heard from the other side for a plan they have never seen. they are coming up with things that suit their wishes. mr. speaker, i support the 2018 budget resolution. while i think the senate's version falls far short of what the -- the great work we did in the house on our budget, it's still the key thing we need to have to move forward with tax reform for the american people. our tax reform plan includes tax cuts for the working class americans that have been struggling for the last several years under a broken tax code. it also makes america's businesses the most competitive in the world instead of having to struggle with the world's least competitive tax system. in summary, mr. speaker, this budget provides a way for a tax plan that provides for bigger paychecks, more jobs, a
stronger economy, a balanced budget. i urge -- i strongly urge our colleagues to support this budget. i yield back the balance of my time. the speaker pro tempore: the gentlelady reserves. the gentleman from kentucky is recognized. mr. yarmuth: mr. speaker, may i inquire as to how much time remains? the speaker pro tempore: the gentleman from kentucky has 12 3/4 minutes. mr. yarmuth: thank you, mr. speaker. i am happy now to yield 1 1/2 minutes to the gentleman from massachusetts, the ranking member of the ways and means committee, mr. neal. the speaker pro tempore: the gentleman is recognized. . mr. neal: it's getting time for halloween so they put on the disguise on the other side. what we're hearing today is from the last two republican speakers, this is a bad budget, let's vote yes. the gentleman from ohio said a while ago, this is all about the middle class. the middle class does not pay the estate tax. the middle class because of our efforts, i think mine in particular, they no longer pay alternate minimum tax. the people in the middle class .6 not locked into the 39
top rate in the tax code. this is a disguise. they are adding $1.5 trillion to the debt and actually over 10 years when you borrow the money, they are adding $2.3 trillion to the debt. all for a tax cut for people at the very top. let me say this, i am happy to negotiate a tax reform package that we could all live with. i am happy to sit down with the other side and acknowledge some parts of the code that clearly don't work any longer for the american people. this is being done by one party. exclusively. they have not negotiated with us. they have not given us the opening. they have not said to us, where do you want to proceed on this? instead, if you pass this budget today, they suggest you're going to see their plan on november 1 and you're going to vote for it sometime around november 6. that is not negotiation. the congress i signed up for actually negotiated these
agreements. if it couldn't like the final package, you could like it because you had sufficient input. this process is one-sided. one dimensional. they interchangeably use the word tax cut and tax reform. this is about a tax cut. i yield back my time. the speaker pro tempore: the gentleman from kentucky reserves. mr. yarmuth: reserves. the speaker pro tempore: the gentlelady from tennessee is recognized. mrs. black: i reserve. mr. yarmuth: mr. speaker, i now yield to three minutes to the gentleman from maryland, the democratic whip, mr. hoyer. the speaker pro tempore: the gentleman virginia tech. mr. hoyer: i thank the gentleman for yielding. mr. speaker, i have been here, this is my 37th year. this is the most reckless and irresponsible budget that i have seen in the 37 years that i have been here. today we're considering the senate's budget resolution. not because the house supports it, but because it is just a vehicle to get partisan tax
reform. strike that, tax cut. on an issue as consequential as tax reform, the congress should not be rushing to meet self-imposed political deadlines without enough time to read and analyze its effects. more importantly, we should not be considering a bill to cut taxes that is partisan and that is as terrible as we're hearing the majority's proposal will be. i say that because we still haven't seen the full details of a bill that this resolution provides for republicans to jam through on an expedited process. one they will reportedly introduce, mark up, and bring to the floor in a few legislative days we have left before thanksgiving. is the sun shine too bright for you? even my friends on the other side of the aisle don't know
will be for d it their constituents. when asked about the details of the republican bill, representative chris collins, a republican will be for their constituents. when from new york, said, we don't know. we don't know. we don't know. we don't know. we don't know. that's a republican member of congress who is saying he has no idea what this bill is. we do know based on a nonpartisan aal siffs their framework, it will -- analysis of their framework, it will raise taxes on 47 million americans. we know that 80% of the tax cut, 80% of the tax cuts will go to the top 1%. and we know as well that nearly half of all taxpayers with children, 44.5%, will see their taxes go up. those same children will not be on the hook. those same children will be on the hook for a $2.4 trillion
cost. this is the biggest debt explosion of any bill that i have seen. republicans representative matt gates of florida summed up today's vote as being for a budget. hear this my friends, on both sides of the aisle, this is matt gates, republican -- gaetz, republican, florida, summed up today's vote as being for a budget that quote, nobody believes in so that we have a chance to vote for a tax bill that nobody's read. that's not what we should be doing. we ought to be working together to graft a bipartisan tax reform package that is revenue neutral. it will be the height we ought to be working together to of hypocrisy to say that you're for fiscal discipline and to vote for this budget. s -- let's not risk our fiscal future and economic security of our people. defeat this resolution.
the speaker pro tempore: the gentleman from kentucky reserves. tennessee ady from is recognized. mrs. black: it is now mihonor to yield two minutes to the distinguished member of the budget committee from georgia, mr. ferguson. the speaker pro tempore: the gentleman is recognized. mr. ferguson: mr. speaker, i rise today in support of the f.y. 18 budget. i think that this is a very important step in doing something that this nation needs and that is for the united states congress and the president to pass tax reform. for way too long our national economy has languished at a g.d.p. growth that is far below historical averages. one of the most important to do is have got row our economy. because that leads to families being successful. rising wages, being able to have careers for themselves and their family members, and i believe that tax reform unlocks the american economy in a way that it -- we haven't seen in decades.
for far too long we have looked at our tax code only through a set of domestic lenses and only looked at the rates, and we get into these ridiculous debates about the top bracket versus the lowest bracket, and we divide our nation. for the first time we're approaching our tax code through a southwest global lens that is really give our american economy a chance to be competitive on the world stage. it's not simply about cutting rates, it's not simply about giving a break to one group or another. to get away from this rhetoric. it is about creating the most vibrant place in the world to do business by reforming the code and creating fairness. if we do that, and our american families succeed, and we see eople moving from poverty into the middle class and from the middle class up, and we see entrepreneurs, and we see new businesses and innovation, we're going to see growth in our economy like we have not seen in a generation. the importance of that is it will give us the tools that we
address the address the single biggest driver of our debt and that is mandatory spending. this body must have the political courage and integrity, along with the senate, to address mandatory spending, to have an honest conversation about social security, about medicare, about medicaid and most importantly about welfare entitlement reform because we can no longer trap generation after generation in poverty. we must create pathways out of poverty into the middle class for our fellow americans. we can do this. we can be committed to it. mr. speaker, i yield back. the speaker pro tempore: the gentleman from kentucky virginia tech. mr. yarmuth: i'm happy to yield one minute to the gentlelady from illinois, a distinguished member of the budget committee, ms. schakowsky. the speaker pro tempore: the gentlelady is recognized. ms. schakowsky: regardless of what the republicans say, their budget paves the way for trillions of dollars in tax cuts for millionaires, illionaires, and wealthy corporations.
corporations. and who would pay for it? it would be the middle class families, children, seniors, and people with disabilities. it would slash medicaid by $1 trillion. threaten health care for one in americans. it would slash medicare by $470 billion. proposes yet again to repeal the affordable care act. under the republican tax plan, $social security 9 million illinoisans would no longer be able to claim state and local tax deductions. nationwide, 47 million people in the middle class households making between $50,000 and $150,000 a year would pay more in taxes. and so i ask my colleagues, did you really come to congress to take away health care and reduce income for middle class families? if you care about anyone other than millionaires and billionaires, you need to vote no. i yield back. the speaker pro tempore: the gentlelady from tennessee is recognized. reserve.k: i
the speaker pro tempore: the gentlelady reserves. gentleman from kentucky is recognized. yarmuth: mr. speaker, i'm now happy to yield 1 1/2 minutes to the gentleman from vermont, distinguished member of the energy and commerce committee, mr. welch. the speaker pro tempore: the gentleman is recognized. mr. welch: i thank the gentleman. mr. speaker, i want to say three things about this budget. first, deficits matter. deficits matter. this budget explicitly raises the deficit. it admits to $1.5 trillion. more likely $2.5 trillion. that means that our children and our grandchildren are going to be the ones paying for this -- for the deficit that's added. second, process matters. we're hearing a lot of talk about tax reform, but there has been no process. there is no bill. we're about to vote on a package tax reform that has not been exbliss itly -- explicitly print to paper. this is no way to do any base
bist. we're making it up as we go along. it's the same process that was used on health care. we went in to committee with no bill and came out 27 hours million people losing health care. there's been no process on this. third, details matter. the details that million people losing are leaking out are very punishing to the middle class. anybody who is an income taxpayer in a state, property taxpayer in a state is going to lose that deduction. it's very tough on middle class efforts to save for retirement. that's in play. folks' deductions on their keough plans, their 401-k plans are very much a part of the process that's going to lower this. reject this plan. the speaker pro tempore: the gentleman's time has expired. mr. welch: i yield back. the speaker pro tempore: the gentlelady from tennessee is recognized. mrs. black: thank you, mr. speaker. i almost can't sit here and not make a comment on my
colleague's budget on the other side of the aisle. all of a sudden they seem to be very concerned about deficits when as a matter of fact their budget assumed almost $1 trillion worth of deficits in their budget. i want to also say that our committee did a really good job budget.g a balanced and we're obviously looking at a budget from the senate that we're going to be taking up so we can do tax reform. but they also in addition to of had $2 trillion worth new taxes that they placed on the american people. so all of a sudden this purityy of worrying about -- purity of worrying about these deficits makes me scratch my head and about raising taxes on the people when their own plan did the very opposite of what we're trying to do is cut taxes. they added $2 trillion worth of taxes. i reserve the balance of my time. the speaker pro tempore: the gentlelady reserves. the gentleman from kentucky is recognized. mr. yarmuth: may i inquire how much time we have remaining?
the speaker pro tempore: the gentleman from kentucky has 5-s 3/4 minutes. mr. yarmuth: i yield -- the speaker pro tempore: the gentlelady has -- the gentlelady from tennessee has 5-s 1/4 minutes. mr. yarmuth: mr. speaker, i yield my se self such time i may consume. as we wind down our arguments here, once again we have had a very fascinating discussion and once again we seem to disagree on virtually everything. for instance, i have heard from the other side many times over the last few days and today that we really can't say what the impact is, the claims that we're making about whether this bill will help the rich or help the middle class or help lower income individuals because we don't have the details. well, that's absolutely correct. we don't have the details. but then if we don't have the details, how account other side talk about the huge benefits that this proposal, this tax proposal, that is yet unwritten, will provide for the middle class? how can they deny that it will
benefit the wealthy disproportionately? we know from the outline that was released by the other side in recent weeks that they intend to eliminate the estate tax. the estate tax only benefits wealthy americans. people with estates over $11 million per couple. they want to eliminate the alternative minimum tax. we know the alternative minimum tax only affects wealthy individuals. there was one estimate that the one year of president trump's tax return that we have that in that year alone the alternative minimum tax, if it were repealed, would have saved him $30 million. so we know that affects very wealthy people. we know that if you reduce the 35%, te from 39.6% to that 35%, that benefits very high income
people. so we do have enough information to draw some pretty definite conclusions about the impact that the released outline will have on wealthy americans. and we can draw some of the same conclusions about how it will hurt middle class americans. if, in fact, the republican tax bill repeals the deduction for state and local taxes, there will be, in my state, a half a million people who will lose an average of $9,900 of deductions every year. so we absolutely know the impact that the proposal, as we know it now, will have. i think it's fair given that there will be no hearings on this bill, it is fair to raise the alarms about what the potential for this bill is. so with that, mr. speaker, i will reserve the balance of my time. the speaker pro tempore: the entleman reserves. the gentlelady from tennessee is recognized. mrs. black: thank you, mr. speaker. it's my extreme honor to yield
three minutes -- three minutes to our majority whip, mr. wonderful o is a member of my conference and it's my honor to yield three minutes to him. the speaker pro tempore: the gentleman is recognized. mr. scalise: thank you, mr. speaker. and i want to thank chairwoman black for her leadership on this budget. it's important we do a budget, and it's always difficult to bring a budget forward because it represents the views that we have and of course we in the house passed a budget that shows the country how we can get back to a balanced federal budget, how we can get our economy moving again and how we can finally rebuild the middle class and that, mr. speaker, is really what's at heart with this budget vote. this budget starts the process of actually going out and cutting taxes across the board so american families can have a better opportunity for the american dream. if you look over the last 10 years, we have seen our middle
class evaporate in this country and so many times we've seen company after company move jobs overseas, and anybody who's complained about that -- and i've sure been angry about it -- the first thing you do is ask, why did you move the jobs overseas, they say america is not competitive again. we have the highest corporate tax rate in the world, in the entire industrialized world. what it means is middle-class jobs being shipped to other countries. now, we can complain about it all day, mr. speaker. but how about we actually do something about it? this bill starts that process, working with president trump who wants to bring those middle-class jobs back to america. we are talking about high-paying jobs, $60,000 to $150,000 a year jobs that left our country. we can bring those jobs back. that's what this vote is about. that's what this budget is about. starting the process to finally rebuild our middle class, to finally bring those jobs back and finally to give a tax break to families who have been struggling for so long under slow economic growth. let's actually grow our
economy, growing our economy is not just good for rebuilding the middle class and for those hardworking taxpayers who will get relief under this bill but our ability to reduce the deficit and finally get back to balanced federal budgets so we can create a healthier economy and a healthier america. i urge everybody to vote yes on this budget and i yield back the balance of my time. the speaker pro tempore: the gentlelady from tennessee reserves. jafflet kentucky is -- the gentleman from kentucky is recognized.
mr. yarmuth: i have the distinct honor of yielding one minute to the gentlelady from california, the democratic leader, ms. pelosi. the speaker pro tempore: the gentlewoman is recognized. ms. pelosi: thank you, mr. speaker. i thank the gentleman from kentucky for yielding. i particularly want to recognize his extraordinary leadership as the ranking member on the budget committee. as we all know, budgets should be a statement of our national values, what is important to us as a nation should be reflected in how we allocate our resources.
again, a statement of values. who better to manage all of that in this congress of the united states than mr. yarmuth who brings his values, his heartland priorities to the budget process? and i thank him for the leadership he has provided. sadly, though, i rise in opposition to what the republicans have proposed, a devastating republican budget, the first step in the g.o.p.'s dangerous plan to fast track their immoral tax framework to hand trillions of dollars to the wealthy while raising taxes on working american families. the republican budget and tax plan cruelly rigs an unfair system even further against hardworking americans. it cuts a raw deal for families in every corner of our country. democrats have a better deal.
better jobs, better pay, better future. but right here before our eyes in this republican -- in this house, republicans are replacing the great american ladders of opportunity with the plutocracy.s of their agenda raises taxes on the middle class. that is the fact. tens of millions of middle-class families will pay higher taxes, including a heavier burden for state and local taxes. and on that subject of state and local taxes, might be interesting to our distinguished colleague, mr. scalise -- and it's a joy to see him in the debate on the floor -- in his state of louisiana, 458,000 people will pay nearly $7,000, an average f nearly $7,000 more by losing their deduction.
and congresswoman black from the great state of tennessee, 573,960 people will lose their deduction. filers will lose their deduction around $5,600 a filer. not only that, if that isn't bad enough for assaulting the dream of homeownership in our country by attacking the deduction, this plan that the republicans propose has been estimated to reduce the value 10%. ple's homes by you not only are paying more money in order to give a tax break to the wealthy and to big corporations, you are reducing the value of your home, and by the way, your neighbors' homes as well. so with all of the unfairness in it, the one that is most
understandable to people directly is how it affects them, and in that case, 44 million americans will pay more because of what the republicans have in their plan. so it raises taxes on the middle class, particularly with the assault of the state and local deduction removed. and by the way, another by the way, if you're a corporation your reduction is not removed just as you are an individual filer. so again, an advantage to corporate america at the expense of america's working family. next, it borrows trillions from the future to give tax cuts to the wealthiest. 80% of the tax cuts in this republican proposal go to the wealthiest 1%. 80% go to the wealthiest 1% at the expense of america's
working families and children. the budget on the floor today reveals the true cruelty behind the republicans' tax plan. what words will be best to use it? it's looting the middle class. massive looting of the middle class. ripoff of the middle class. you know what, there are many middle-class people. so you take some money from all those middle-class people and those who aspire to it so you can give a lot of money to the few. big sucking up of assets from the middle class to the wealthy, that's what they're here for. it's in their d.n.a. trickle down economics. it's in their d.n.a. that's what the republicans come here to do, and that causes a deep, deep addition to the national debt. they're supposed to be deficit hawks, but i think they've become an endangered species because they don't seem to care
that this with the cuts that they're making, the tax breaks they're giving to corporate and wealthy america will cause over $2 trillion -- not counting service on the national debt which would take it closer to $3 trillion. it's a very hard road to come back from. and as our distinguished ranking member has pointed out, the opportunity cost in the budget, whether it's a trillion dollars from medicaid, half a trillion dollars from medicare, funds taken from education, the seed corn of america's preeminence in the world. why? to give a tax cut to the high end, and they'll say, oh, the growth will come from this. will pay for that. never has. never has. don't take it from me. bruce bartlett, who was one of the orchestrators of the supply-side economics said --
we never said it paid for itself. anyone that ever says it does, it's not true, it's nonsense. he went further to call it b.s. as i said, it ran sacks medicare and medicaid, adding tax breaks to corporations and the millionaires. looting the middle class. shaking down the middle class. ripping off the middle class. increasing the sackses of the middle class. so it devastates vital investments, as our distinguished ranking member said, good paying jobs, higher wages for working families, education of our children, health of our working families. it really is a good example of what they say that medicare should wither on the vine in keeping with their trickle down economics, medicare should wither on the vine because it will take -- half a trillion dollars from medicare in their budget that will follow. so republicans will harm
veterans, rural america, seniors in children, again, all in the name of fast tracking trillion-dollar tax breaks for the wealthiest 1%. 80%. what more do you need to know? 80% goes to the wealthiest 1%. again and again on the floor, the republicans have tried to tilt the playing field against hardworking families. this is really quite remarkable, though. this is a great transformative moment for america where we can reject this assault on the middle class, this addition to the national debt and instead say, let's go to the table and work in a bipartisan way to truly reform our tax code so that we can be competitive in the world, so that families can thrive, that they can have the deductions that are fair for them and needed and not taken away from them but not taken away from corporate america.
so we stand ready to go in a bipartisan way to work to -- any tax cuts -- this is tax cuts for the rich. this is not tax reform. any tax cut, any agenda like that has to be bipartisan in order for it to be sustainable. so let's come to our senses here. common sense says -- well, athematics say if you take money away from many to give to the few, you won't have equity income in our country. this is the wrong thing to do. it's not what our values are about. it's really a shame that they would even bring such a document to the floor. and anybody who lives -- anybody who lives in a district where their deduction, the tax deductions for state and local taxes are taken away from individual filers but not for
corporations, as the bill determines, to the tune -- i can read you all the statistics across the country about how devastating this is. as our own governor said, how could they do that to our state or any state without the department of finance of our states saying, wait a minute, understand what this does to the economy of our state? understand what this does to our individual filers in our state. who said that this document that came over from the senate should have such a devastating impact on states and members coming to the floor and endorsing it? some say, oh, i'm just voting for the budget but it isn't really -- no. no. you are putting your name next to taking deduction of homeownership, of state and local taxes away from your
constituents. they're going to know that. i would rather you reject this. we don't want a political argument. we want to protect the american people. that's why i hope everyone here would come down in favor of the middle class and reject this assault, this ripoff, this shakedown of the middle class that the republicans have on the floor, and i yield back the balance of my time. the speaker pro
tempore: the gentleman from kentucky reserves. the gentlelady from tennessee is recognized. mrs. black: thank you, mr. speaker. it's now my honor to yield one minute to the gentleman from west virginia, mr. mooney. the speaker pro tempore: the gentleman is recognized. mr. mooney: thank you, mr. speaker. we had a democrat president, john f. kennedy, who cut taxes when he was president. i think he'd take issue with a lot of the things said by his own party. it's been 30 years since we addressed taxes in this country. president ronald reagan addressed it 30 years ago. we are way overdufort tax cuts in the united states of america. everybody knows that the 35% tax rate on corporations have driven companies overseas. west virginia saw just a couple years ago one our largest
remaining corporate headquarters relocate overseas to avoid the taxes that are too high in this country. we all know that's a problem. we have a plan we're putting forward to try to solve it. say to my friends on the other side of the aisle, where is your plan? you have no plan. this is all political. all you do is take political attacks. you had meetings said don't offer a plan. attack their plan. we have a plan to address this because hardworking taxpayers in west virginia and america need and expect us to deliver on these tax cuts. so i rise in strong support of the budget today so we can move forward with our tax cut plan. thank you and i yield back the balance of my time. the speaker pro tempore: the gentlelady from tennessee reserves. ou have 2 1/4 minutes remaining. mrs. black: thank you, mr. speaker. it's now my delight to yield two minutes to the chairman of the ways and means committee, the distinguished member from texas, mr. brady.
the speaker pro tempore: the gentleman is recognized. mr. brady: thank you, mr. speaker. with this budget we have an opportunity to move forward on a major priority for the major the which is fixing broken tax code. this is completely and utterly broken. you can see it's so complex. it forces millions of families and job creators to spend billions of dollars and hours each year filing their taxes. it's unfair. it gives wasteful washington lobbyists loopholes and carveouts to special interests by giving hardworking americans nothing but frustration. you can see our tax code is miserably uncompetitive. that's why more and more of our american businesses and good-paying jobs are going overseas to countries with more modern and more competitive tax systems. passing this budget today we can send a clear message the -- block tax e --
reform and defend the status quo. we are working closely with president trump who leads this charge. together we have bold ideas to deliver more jobs, bigger paychecks for all americans this year. i want to thank chairman black and the budget committee for all their hard work. i want to encourage my colleagues to vote yes, vote yes on tax reform and join me in taking an important, historic step forward to deliver on our tax reform promise. i yield back. the speaker pro tempore: the gentleman yields back. the gentleman from kentucky is virginia tech. the gentlelady interest tennessee is recognized. mrs. black: i have no more speakers and ready to close. the speaker pro tempore: the gentleman from kentucky. mr. yarmuth: thank you, mr. speaker. in closing i would like to say that for anyone watching this ebate or watching any of our
the sions out there in country, i know it often appears that we don't get along, that we hate each other, that we're add each other's throats, but nothing could be further from the truth. and it's been such the country, i know it often appears that we don't get along, that we hate each other, that we're add each other's throats, but nothing could be further from the truth. and it's been such an honor to work with chairman black as a member of the budget committee. and all the members. we do the country, i know it often appears that we don't get along, that we all respect each and get along. we just have some very serious disagreements about policy. that's fair. that's what this country is about. and once again although i may not get to do it -- since i may not get to do it again, as chairman black pursues another office and probably won't appear with me on the same program anymore, i want to wish and say what a joy it's been to work with her. with that we yield the balance of our time. the speaker pro tempore: the gentleman yields back. the gentlelady from tennessee is recognized. mrs. black: mr. speaker, may inquire how much time i have left? 30 seconds. 30 seconds i want to once again say thank you to my colleague from the other side. i have enjoyed working with him. this is history. we're going to make history. i urge my colleagues to join me