tv Senate House Democrats on GOP Tax Plan CSPAN November 2, 2017 2:43pm-2:56pm EDT
or they have a day off for veterans day. the week they come back after veterans day is when this is expected to get to the house floor. host: aaron lorenzo is a reporter for politico. . llow him at @aaronelorenzo >> take you to live remarks from democrats on the house tax reform plan. ms. pelosi: if your family live in a state, any state and don't want your income taxed twice, you lose. if you plan to live past 65 and need medicare, you lose. hidden in the pames of the ryan-mcconnell bill are devastating plans to raise taxes on working families by dismantling state and local tax deductions, encouraging corporations to shift jobs overseas.
this is important. 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 corporate america. $1 ppt 5 trillion in tax breaks for corporate america. the same exact amount they cut from medicare, $500 billion, medicaid, $1 trillion. $1.5 trillion from medicare and medicaid, $1.5 trillion gifts to corporate america and the additional gift of lowering the cost of shipping, making it cheaper for them to shift jobs oversea than create jobs in the united states. even after ransacking all 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 is truly understood, ransacks vital benefiters in middle class. but if you're the wealthiest 1%, republicans will give you the sun, the moon and the stars. all of that. at the expense of the great middle class. which is the back bone 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. mr. schumer: thank you, nancy. when we were in the house we didn't have such a fancy -- fancy room here, wed that that little room on the third floor. which i iven habited regularly. ms. pe he see: camera shy. mr. schumer: we're still poring
through the fine print of the 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 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. family in new york or illinois or virginia. they have a household income of about $100,000. in those states that's not very much because teacher, policeman, living together, husband and wife, make over that.
now, they, they -- if you take the typical amount of each of those deductions, their taxable income would pitfall $44,000, would fall to $44,397. meaning this family pays $5,727 more in taxes while the wealthy get a huge break. people like that are the backbone of the middle class. they're all over the suburbs of new york and california. illinois, 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. an his family could get 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 hardworking citizens are paying more. i wonder if you can find someone whose income is over $1 million a year who is going to pay less? who is going to pay more? they won't. 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. this could very well go up. they eliminate deductions for the middle class and increase the ability of the wealthy to ay less. so family after family after family gets hurt.
so talking about a family 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 need any more 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 families will be in pain if this bill. -- pain from this bill. and now, 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 russia 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. the republicans know the more this bill is exposed out there, the less people like it. in short, the bill is like a fish. if it stays out in the sunlight 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. long along with chairman gephardt. senator bradley. there were countless hours of hearings. 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'd march the bill down the streets of america with a big brass band and say, hey, everybody, look at our bill. instead they are hiding the bill. and that's because they're not doing tax reform. they're doing tax giveaways to the wealthy and the powerful and telling the middle class take a hike, you're on your own, baby. we will fight this bill tooth and nail. i believe we will prevail. even in the shortened time they try to rush it through. tax legislation is extremely complex. and you cannot have a successful bill if you rush it through in the dark of night. richie? >> thanks, charlie. this is a missed opportunity. i say missed opportunity because i want to highlight what happened back in 1986 specifically. there were 30 hearings in the full ways and means committee. there were 12 hearings in the ways and means subcommittees.
more than 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. we've not had a chance to go through anything other than what they presented via press conference. but we do know the following. that they're going to say on one hand that they're giving $1,150 to the average family and simultaneously taking it away by capping deductions that they have for home ownership and how about the fact that there's $1 trillion worth 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 to discourage charitable giving. these are guarantees they made to people that this wouldn't happen. urban issues.
getting rid of new market tax credits. getting rid of historic tax credit and then talking about stimulus? stimulus in old cities today is from new markets tax credits. that's how it's done. so when you look at what we've had this exercise in, trying to decipher simplicity, one thing we can all be assured of today, this is anything but simplification of the tax code. you're going to have a chance to pore through these details now in the course of the next few hours. but we're all anxious to see the distribution tables to see who gets what and it's clear at this moment that their advertised effort on behalf of the middle class is simply -- is simply not true. >> thank you. 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. t's designed to offer what appear to be enough crumbs for
some middle class folks in order to distract from the multitrillion dollar giveaways the big corporations that ship jobs overseas and the mega wealthy. mr.wide n: let me give -- mr. wyden: let me give you an example. we have been looking at examples all morning. say off family who makes a little over $50,000. just od day, maybe, aybe, that family might get an itity, 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 are going to be getting out over the next couple
of days. my colleague says the overwhelming winners in this bill are the people who have the power. the people who can hire all the technicians and all the expert whors already thriving in an economy that leaves so many working class people behind. now we know that there are -- >> you can continue watching the briefing live on c-span3. we return to the house floor, members gaveling back in for votes. previous question on house resolution 600. adopting house resolution 600, if ordered. ordering the previous question on house resolution 601, and adopting house resolution 601, if ordered. the first electronic vote will be conducted as a 15-minute vote. remaining electronic votes will be conducted as five-minute votes. the unfinished business is the vote on ordering the previous question on house resolution 600 on which the yeas and nays are ordered. the clerk will report the title of theol