tv U.S. Senate Sen. Schumer on GOP Tax Reform Efforts CSPAN November 11, 2017 4:50am-5:01am EST
now going to spread out and start talking to our broader conference. i also met with members of the senate who are also forming their own working group. active discussions are under way with our members how the daca solution could occur, but i don't think we should put artificial deadlines in front of the one we already have, and i do think it should be considered separately. thank you, everybody. >> thank you. >> that same day, democratic leader chuck schumer gave his reaction to the republican proposal on the senate floor. this is 10 minutes. objection. mr. schumer: mr. president, later today, the senate republicans will release their version of the tax bill. the bill will not include a single idea of democrats in the senate. not a single democrat has had any input into this bill. it was constructed entirely
behind closed doors by the majority party who have no intention of negotiating with democrats because they have locked themselves into a partisan process that only requires a majority vote. and they're trying to rush it through this chamber with reckless speed. why? because my friends on the other side know the longer their bill is out there for the public to see, the less the public likes it. their only hopes of passing it are to rush it through before anyone can grapple with the stunning hypocrisy of the center of their plan. the republican majority has repeatedly promised a middle-class tax bill, but instead they have concocted a bill grounded in tax cuts for big corporations and the very rich. they actually hurt middle-class people because they need to give those big breaks for the wealthiest. while promising that their plan gives everyone a tax cut -- that's what speaker ryan said again today -- multiple independent analyses con clued
that the republican tax -- conclude that the republican tax plan would increase taxes on millions of middle-class families, contrary to what republicans promised, what donald trump has promised. they said no middle-class people will get an increase. this is aimed at helping the middle class. but the vast majority of the help goes to the wealthiest and biggest corporations. a "new york times" analysis found that next year, the house republican plan would cause taxes to go up on one-third of middle-class families. by 2026, taxes would go up on nearly half of all middle-class families. so even if you come from a state with a lower tax rate, red state, it's probably a good bet that a quarter of middle-class families will get a tax break. i think the lowest i saw was 17% for west virginia. and so this hurts middle-class people, and it hurts certain middle-class people much worse than others, people who have student loans, people who have
high medical expenses, people who come from states where there are large property taxes, people who have big mortgages. these are middle-class people. they should not get a tax increase. as mark mazur, the director of the independent tax policy center said, you could create a plan that just cuts taxes for middle-class people. that's not what this is. that's him. not me. but it's what republicans promised people. it's what republicans promised people. now, we'll see what the senate comes up with today, what several republican senators have already confirmed that the senate bill has the same structure as the house bill, and in at least one way, we'll know that it's worse for middle-class families than the house bill, because the house bill would reduce the value of stloal deductions by 70% while the senate bill eliminates it entirely. my friend from ohio, senator portman, confirmed that a few
days ago on fox business. so this should be a three-alarm fire for every house republican in california, new york, new jersey, virginia, washington, illinois, colorado, minnesota. senate republicans are telling house republicans there will be no compromise on state and local deductibility. it's full repeal for bust, because senate republicans need the revenue raised by ending this popular middle-class deduction. there are several deficit hawks in the senate. we have stricter budget rules for reconciliation. if the senate tax plan includes cuts to the corporate rate, the pass-through rate and on upper tax brackets which dramatically increase the deficit, they will need the revenue of full repeal, state and local, to make the numbers work. so i say to every one of my republican colleagues in the house who come from a suburban district, this bill could be
your political doom. don't let the special interests, don't let the party leadership push you into doing something that is bad for so many of your constituents. you'll pay a price. house republicans should kill the bill now if they want to have any hope of stopping the full repeal of state and local deduction. they can't hide behind the so-called compromise in the house bill. it's nothing more than a temporary fig leaf for full and permanent repeal. and as i said, if house republicans don't kill it now, it will come back to haunt them. the overwhelming democratic turnout in suburban districts in virginia, new jersey, pennsylvania, should send shivers down the spine of house republicans who represent those districts. voting to repeal the state and local deduction, walloping the middle-class and upper
middle-class suburbs, would be political suicide, all to bow down to special wealthy interests, special big interests of large corporations. now, even with the compromise, the house numbers are devastating. representative macarthur said he was shown information that shows the compromise is good for his district. he went to a no to a lean yes, according to "politico." rep macarthur, look at the real numbers. 43% of taxpayers in representative macarthur's district take the state and local deduction for an average of $11,987 per deduction. over half the value of these deductions is not the property tax at all. it's state and local income, which will be taken away under the plan. and then there are a good number, according to i.r.s., where the property taxes are over 10,000, meaning the
compromise still wouldn't help them. so i would not, if i were representative macarthur, listen to the numbers that the republican leadership has given, and i would do my own independent analysis, because i believe he would find them to be a lot worse than what the leadership is telling him. and i'd say to my other republican colleagues, don't fall for those quick numbers. go do your own looking at this. it's a lot worse than your leadership is telling you. yet, for some reason, -- one final point here on taxes. for some reason, the conventional wisdom on the republican side is that because of the stunning depth of their losses in the recent elections, there is an even greater need to pass the tax plan. we have to do this or we'll fall apart, they say. it makes no sense. they are misreading the public. ed gillespie, for all his divisive ads, also ran a traditional establishment campaign. the linchpin of his campaign was
a $1,000 tax cut for everybody. got him nowhere. exit polls from the virginia election showed the number one issue on voters' minds was health care. and they voted overwhelmingly democratic. and yet, amazingly, republicans may repeal the individual mandate as part of their tax bill. how do they think that's going to fly? despite the spin from republican leaders, passing this plan won't help republicans climb out of their hole, the hole they're in. it will bury them deeper. maybe they won't be -- if they pass the bill, they won't say they are in disarray for the moment, but already this bill has had a miserable rollout. you know, when a party rolls out their number one legislative plan, there should be trumpets and bands. but the public knows already that the bill favors the wealthy. the public knows that middle-class people get a tax increase.
so at best, the who willout of this bill has been mixed. i say it's been negative, and the american people agree, because more people, many more people are against this bill than are for it, according to all of the polls. passing a partisan tax plan that favors the wealthy, raises taxes on millions of middle-class and upper middle-class families in the suburbs is no political cure. it's political poison. the real way to win back the esteem of the american people would be to put partisanship aside, put a giant tax cut for the wealthy on the shelf, and come work with democrats on real bipartisan >> c-span's "washington journal ," live every day with news and policy issues that impact you. with us this morning "final
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