tv Democratic Leaders on Tax Reform Bill CSPAN December 20, 2017 3:55pm-4:25pm EST
meant so much more to the american public. host: i appreciate your comments this afternoon. more welcome on twitter at c-span and on our facebook page as well. the house is not done for the day. they are coming back at 5:00 for a meeting of the republican conference to work on a way forward on this continuing resolution and we will have live coverage of the house when they return around 6:00 this evening. we will have an exact time later on on. after the changes to the bill, leaders of the house and senate poke with reporters. snume senator schumer: see what our charts are. oh, look at that. very nice charts. i would like to compliment our
staffs. ok. good afternoon everybody and thank you for joining us today. now we know they are popping champagne down pennsylvania avenue. there are only two places where america's popping champagne, the white house and the corporate board rooms, including trump tower. otherwise, americans have a lot to regret. first, i want to respond to some comments that senator mcconnell made on the senate floor this morning. his opening comments, first he said, i brought them along because they are so -- this is mcconnell's transcript. now here's what he said, first he said, the senate accomplished something really remarkable. he's right. to pass a bill of tax cuts and have it be so unpopular with the american people is an amazing achievement for the republicans.
it's never been done before. to have for the first time according to a "wall street journal" poll, americans prefer democrats. great accomplishment, mitch. great accomplishment, republicans. now second, he said he championed the open process the tax bill went through. sure, it went through an open process. only if you define open by one party negotiating behind closed doors, having one markup with only one expert witness while voting every single amendment proposed by democrats. if anyone believes that this was an open process -- and i have a bridge back in my hometown to sell you. then senator mcconnell told us this bill was encouraged to job creation and put more money in the pockets of working men and
women. well, if you believe trickle-down economics, he's right. the trouble is no one in america, not the american blic, not the economists believer trickle down works. corporations are flush with cash right now. the stock market is booming, job creation isn't. look at all the companies who said they are going to use their tax break for stock buybacks, dividends that don't affect average americans and i love the example of at&t. over the last 10 years, at&t has paid an average tax rate of 8% a year. they have 80,000 fewer employees than they had then. tax breaks don't lead to job creation but big c.e.o. salaries and money for the very, very wealthy. and finally, senator mcconnell touted the repeal of the
individual mandate. that's true. and now our republican friends will own premium increases on millions of middle-class families. the increase they will have to pay in health insurance far exceeds the amount of a tax break that they will get. and 13 million fewer americans will have health insurance at all. so as republicans head to the white house for their back-slapping and high-fives to celebrate passage of a bill against the will of the american people. we have a simple message. republicans will rule the day they passed this bill and you can bet democrats will make sure of that. we are going to continue to hammer away at why this bill is so unpopular and why what the republican rhetoric and the reality is so far apart.
today's passage of the partisan tax bill officially sements the republican party as the party of the wealthy and the party of big corporations against the middle class and the working people of this country. why? president trump, his rich fans, cabinet members and donors and biggest corporations make out like bandits like the middle class gets crumbs and tax breaks. individual tax breaks expire. by 2027 according to the joint committee on taxation, 83% of the middle class, almost 145 million american families will either get a tax increase or see
a tax change of less than $100. . are the top 1% of earners reap 83% of the benefits.
let me say that again. middle class, 83% get an ncrease of taxes or a decrease of less than $100. top 1%, 83% of the benefits. so no surprise when president trump admitted this morning that the corporate
rate was the biggest factor in their plan. middle class america is asking, scratching their heads, why does the top get far more than i do? why do i get a tax increase when so many of them get a huge decrease? this bill doesn't sit well with the american people right now. and it will not sit well with the american people next year. so when middle class families see their taxes go up, they'll know republicans are to blame. when middle class families see their health premiums rise, they'll know republicans are to blame. and when middle class families see billions more in stock buy backs and dividends going to wealthy shareholders instead of
increased wages or new jobs, they'll know republicans are to blame. o while republicans will own every nook and cranny of this awful tax bill, democrats are going to fight like hell to stop speaker ryan and the freedom caucus from ending medicare and cutting medicaid. leader pelosi. ms.
pelosi: thank you very much, mr. leader. i associate myself with the leader's remarks in the interest of time. when he talked about champagne bottles being opened and executive suites and in the white house, i will add to that the joe six-pack is paying the price in a very severe way. today the house republicans are cheering. hey are toasting the fact that they raised taxes on 86 million
american families, middle class families. remember these three numbers -- 86, 86 million middle class families get a tax increase. 83ers. 83% of the tax advantage goes to the top 1%. 13, 13 million americans may lose the health insurance as their premiums go up under the elimination of the individual mandate. this is what they are drinking toast to. now the republicans are taking their cool victory lap, toasting with champagne with their donors and the wealthiest. but they didn't do what they promised. think of this. in the campaign the president said that he would end carried interest loophole. instead, maybe you can communicate this to the republicans in congress, or they used him as their front an, but they didn't do
that. instead they did not end carried interest. they projected and even added more loopholes for the richest. secretary mnuchin, secretary mnuchin promised the g.o.p. would not cut taxes for the ich. and then they handed the wealthiest 1%, 83% of the benefits in this tax proposal. the g.o.p. said it -- the resident promised the middle class would benefit when he was on the campaign trail. and of course it raises taxes again on 86 million middle class american families. the g.o.p. said it would pay or itself. it would pay for itself. instead, it will explode the national debt. and on that score, when speaker ryan was asked this morning, while mitch was -- i don't know why he said what he said, but it was this morning, either early or later this morning he was saying the speaker was on
"the today show" when they asked him if the tax bill would create enough growth to not add to the deficit, the speaker said, nobody knows the answer to that. we know the answer to that. it will not. and don't take it just from us. we have always known, every credible analysis from every expert in or out of government, republican and democrat, say republicans are exploding the debt with their giveaways to the wealthy. as bruce bartlett, who helped create the republican trickle-down with jack kemp said, anyone who says this, it's not true, it's nonsense. should i say what he said? it's b.s. but he said the full. and the republicans know it. the republicans only care about the deficit. you know, whatever happen, i say it over and over.
the poor deficit hawk it's not an endangered species, extinct. because the republicans only seem to care about the deficit when it comes time to invest in people. not when it comes time to give giveaways to corporate america and the healthiest. -- wealthiest. that's ok. but the sad fact is, investing in people, the education of our children, nothing brings more to the treasury than investing in early childhood, k through education, postgrad, lifetime learning for our workers. nothing brings more money to the treasury. reduces the deficit. then investing in education. but that always has to be ffset where permanent tax cuts for corporate america to the tune of over $1 trillion which will add to more in terms of interest on the debt. that does not have to be offset or paid for. again, corporate america, you have a free ride. if it's investing in our
children, you have to pay for it and look at chip being one example of that. so, as their tax scam explodes the deficit, the republicans will tell seniors, oh, no, we have this big deficit. we're going to have to -- disabled children, working families, and our seniors we can't afford medicare and medicaid. in fact they said this week they have to raise the age to be eligible for social ecurity. the republicans are learning -- we have a better path. what we would hope to do as we go forward is make the case to the american people we should be working in a bipartisan way to create growth that generates good-paying jobs that does reduce the deficit. that's the comparison between us. in fact, when speaker boehner was speaker, this all came up during the bush years and the rest, he wasn't speaker then, but he referenced it as speaker, said trickle-down economics is the policy they were advocating and if it creates jobs that would be
ood. if it doesn't, so be it. hat's the free market. the free market? these guys had their hand in uncle sam's pocket every step of the way. but it's the free market when it comes to anything else. the american people saw right through this brazen con job republicans tried to sell them. even the simplicity. they were going to reduce the brackets. they did not. there were seven, they said four. t's seven. hey said you would return your taxes on the postcard. maybe the size of this postcard, don't know. american people saw this republican tax scam was not working for americans. a foundation has been laid on his message. the g.o.p. tax scam is about leaving the middle class dry to pad the pockets of corporate america and the wealthiest %. i'm pointing to the sign. senator schumer: i am certainly not in that category. ms. pelosi: insulting crumbs
they give working families are meager and temporary. the tax breaks for corporate america are vast and permanent. after all the president's promises, i'm just thinking -- did he get conned by the republicans in congress? because they have not kept his promises to the american people. senator schumer: willingly conned. ms. pelosi: he's responsible for his actions, no uestion. but they did not honor his promises to the american people. maybe that was a con. after all the president's promise, all the republicans brazenly, brazenly transparent misrepresentation to the american people, the true face of what the republicans stand for has been revealed. instead of focusing on the middle class, which contains millions of our veterans or the forgotten americans, republicans have voted to install a permanent plutocracy
n our country. that does violence to the vision of our founders. violence to the vision of what they sacrificed so much for. thank you. senator schumer: questions first on this
subject. reporter: on the subject -- one of the big republican promises was that they were going to sweep corporate loopholes out of the tax code. how did they do on that front? senator schumer: every day we're finding more corporate loopholes that were put in that -- this bill and that will continue over the next month or two. hen you do a bill in the dark, it gives a great opportunity for lobbyists to do their handiwork and give huge breaks to specific corporations and others. the corporate loopholes are worse than ever in this bill. reporter: so they didn't simplify the code sdem senator schumer: it's more complicated today than it was before they started. it's more regressive today than before they started. it's more unfair today than before when they started. ms. pelosi: by the way, these
are tax expenditures. that is spending the taxpayers' money to give corporate -- of course they are not paid for. reporter: one of the consequences of the bill is that they talked about having to waive the pay-go provisions here. that's something they want to do right away. i know on your side, i haven't spoken to you about it, but mr. hoyer said that they would provide the votes. keep the government opened if they put that in there. seems like you guys got -- senator schumer: they haven't shown us any plan how they'll get it done. let's wait until they come to us and tell us how they expect to get it done. let's wait until they come to us and see what their plan is for getting it done. reporter: do you think leader mcconnell misled senator collins in promising they could pass the health stabilization bill to win her support? senator schumer: unclear what they said to one another. it's clear one thing, leader mcconnell and all the
republicans have made the health care system much worse. 13 million people not covered. premiums going up by 10%. and no one believes that the two bills that senator collins wants added to this, which now they have said they are delaying until january, but no one believes that those two bills would make up for the destruction that is caused by removing the mandate. and they are going to pay a price for that, big time. they talk about, again, the increase in premiums for so many americans will far outweigh any tax decrease they get. ms. pelosi: those increases are wholly owned by the republican party. when you take the individual mandate and reduce by 13 million people, perhaps that many from the pool, you're increasing costs. senator schumer: one other thing.
atty murray has said this. alexander-murray was not designed for a system where the mandate was removed. it doesn't work anymore. it's an empty promise whether it's in a bill or out of a ill. reporter: they are talking about correction bill on the extenders. you warned that there may be loopholes in here hemorrhaging revenue. how much do democrats engage on subsequent -- senator schumer: we think this bill is so bad it's very hard to fix in small little tweaks. we'll see what they propose, but our view -- we're going to hammer away at this. this is going to be an issue for us all year. this is not just forgotten. the fact -- they say once people learn of what is in this bill they'll be for it. the koch brothers have spent tens of millions of brothers -- dollars trying to persuade people this is a good bill, and majority of
americans, by most polls, think it's a bad bill and the reason is very simple. the suspicions of the american people that the republican party is helping the wealthy and the powerful corporations and not the middle class has been confirmed in this ill. ms. pelosi: just to say they did a massive bill that has trillions of dollars of impact on the economy. without a single hearing, with only the person from the joint tax committee responding to questions at the markup. with accepting no mendments. and now all of a sudden they have this massive bill that they have done, the speed of light in the dark of night, they think that we're going -- that they are going to tweak this into something better? we have to go to comprehensive tax reform in a bipartisan way, create growth, generate good-paying jobs, reduce the deficit.
if they have those goals, you wouldn't end up -- if they had those goals you wouldn't end up -- senator schumer: we had some bipartisan talks going in the senate with republicans and democrats. and the republican leadership pulled the republicans out. we could have had a much better bill, done in a bipartisan way, that would have been permanent, would have done much more for the middle class and done much more to reduce the deficit. ms. pelosi: that's not what they were about. they weren't about the middle class. in their d.n.a., the republicans are about tax cuts for the wealthy and corporate america. they are for trickle down. they are not for bubble up. reporter: the republicans repeatedly said, look, the proof will be in the paycheck next year. you are going to see more money. that can spend on your own. what can you point to as democrats to say, this tax plan isn't so good for you? senator schumer: first, a whole lot of people will get tax increases. and second, the average american says, even if i get
$100 tax decrease, why is the wealthy person getting a $50,000 tax decrease? the decrease should go to the middle class and people trying to get there, not to wealthy people, and that's why the bill is so unpopular. they know what this bill is all about. they know they are getting crumbs, if that, while the wealthy are getting big pieces of cake. that's why it's so unpopular. reporter: the tax policy center said 80% would see some kind of tax cut. is that true? senator schumer: the tax policy certainty said some would get a tax cut. but it's small. it vanishes. and the wealthy get a much bigger break. that's what the american -- polling data, very interesting. the world has changed since the time even of george w. bush's tax cuts. when people ask if you get a small tax break and the wealthy get it big tax break, do you want it or not? overwhelmingly the people say
no. reporter: different topic. senator schumer: any more on this one? then we'll go to your topic. one, two. reporter: on the child tax credit, could you talk about the democratic provision not to support the rubio-lee amendment? was it a missed opportunity? what's the path forward? senator schumer: the rubio-lee amendment wasn't hardly anything. we had a much better proposal. they missed the opportunity by not supporting in our house the brown-bennett proposal which would have done something. you know, so many of our republican colleagues knew this was a bad bill. they tried to tweak it to make it a tiny little bit better. that's not going to solve the problem at all. ms. pelosi: in that regard, one of the champions of the child tax credit in our house, congresswoman rosa delauro, who has devoted her life to addressing the needs of children in america, child tax credit was something she waited. it's important to note this. if you make $400,000 a year,
you get a $4,000 child tax credit. family of four. $400,000. if you're a single mom with two children making $14,000 a year, how much do you think you get? $75. $75. it's fraud. senator schumer: the child tax credit they did mirrors what they have done in the bill. the wealthier you are, the better you did. ms. pelosi: not just amount of money. by percentage. reporter: how do you point the democrats keep hammering this going forward, you alluded to this, the president himself stands to do very well under this bill. is that going to be a central part of the democrats' message? senator schumer: the president does very well under this bill. most of his cabinet does very well under this bill. large percentage of his contributors do very well under this bill. yes. the president is part of the top 1%. and the bill is aimed to help the top 1%. so the president's part and
parcel to the problem. ms. pelosi: our focus in the campaign will be what this means to people and their individual lives. financial insecurity, financial instability is a major concern. apprehension for the american people. and we have to show them there is a better way. we have a better deal, better job, better way, better -- better pay, better future, and that's part of the debate that we will have. yes, they get all of that at the exploitation of the workers. and -- and on top of it all, which is really kind of very sad, is they try to represent that it's about the middle class. let me go back to mnuchin. i just think his statement is just so -- mnuchin, what we are talking about billionaires here. senator schumer: mnuchin seems to make it up as he goes along. ms. pelosi: g.o.p. won't cut taxes for the rich. they handed the top 1%, 83% of the benefits. that's one part. what does it mean to you in your life?
you are going to lose some of your deductions whether it's on your mortgage or estate taxes. the salt will hurt people. enormously. and the services they receive from their state and local governments. it is also about they are going to lose access to quality, affordable health care as well. the list goes on and on. it's really more about our constituents. yes, making the contrast, but focusing on what it means to them. senator schumer: one place we're really going to focus on is the suburbs. this is a horrible bill for so many suburban people. ms. pelosi: and they know it. senator schumer: and they know it. and the suburbs are now, i think, going to move much bluer because of this tax bill. reporter: will you allow congress to adjourn or leave town without a chip deal? senator schumer: look, we're trying to get as good a deal as possible.
we're not going to negotiate against ourselves right here. but the bottom line is we haven't even seen anything, they are so busy with the tax proposal that we haven't even seen a proposal. leader pelosi can talk about the house. we haven't seen a thing from senate republicans. we have to see what they propose. bottom line is there are things they want, things we want. if they sit down with us, we could come to a good agreement. if they are going to put in the things they want, not the things we want, it will lead to real problem. ms. pelosi: the children's health insurance program serves nine million children in our country. its authorization ended on september 30, the end of the fiscal year. for three months, nearly, how many months is that, we have had this vacuum where states are losing funds. running out of funds to meet the needs. and what are the republicans doing? they sent a bill to the floor called the walden bill. how they pay, because you have
to pay for children's health, you have to pay for corporate america. -- you don't have to pay for corporate america. you have to pay for children's health. how do they pay for it? what offsets do they use? other children's health. in order to pay for the chips program, they'll take money out of the prevention fund which is about inoculations for children. it's about addressing lead poisoning regard to children. and other issues that relate to children's health. so they are saying to children, we'll pass children's health insurance programs, but you are going to pay for it out of another children's account. that's totally unacceptable. that's the bill they sent to the floor. that's the bill we voted against. that is the same bill that they say they are going to put in the c.r. senator schumer: why did they wait so long? children's health has been in trouble in september. on issue after issue, they have been so busy giving tax breaks o the wealthy that they have neglected so many issues, including chip, including fisa, including issues very important to america. they are derelict in their duties.
now they are scrambling at the last minute. one more. ne more. reporter: the house is considering taking up a bill that would boost defense spending. i know you talked about -- less money from -- senator schumer: from what we have been told, the previous anomalies are ways to get around the defense cap. we will not accept that. one way or the other they should -- we have said all along there's got to be parity, defense goes up. spending for average families goes up. in terms of health care, in terms of education, in terms of infrastructure. veterans. opioids, pensions. we're sticking with that. we're not letting them try to get around this one way or the other. thank you, everybody. cappingscappings -- [captions copyright national cable satellite corp. 2017]