Speaking out on GOP Tax Plan That's Really a GOP Tax Scam

As we speak, Republicans in the Senate are doing everything they can to limit debate on their tax bill and pass this thing before the American people get a with of how much it's things so that's. Why. I'm talking to you right now because you deserve to know what's going on only in Washington, only in Washington. Could republicans' borrow to trillion dollars from China to fun massive tax cuts for big corporations and still need to raise taxes on millions of Americans in order to pay for it I look I understand my Republican friends are in a pickle. They need to give President trump a win the problem is that this White House is asking them to pass a tax plan build on the most unpopular policies in America. In my College know it, they know that after all, the American people have been through financial crisis the great recession decades of wage stagnation and soaring education, housing and healthcare cost after all, of this hardship cutting taxes for corporations taking healthcare away from three 13 million people and raising taxes on the Middle class is an exactly a recipe for winning the hearts of voters. Let alone a strategy for building a more dynamic, inclusive and prosperous economy for all Americans. So, yes, Republican serving a tough spot. They know that if we had a sensible campaign, finance system policies, this disasters with spell disaster for them in 20 eighteen that's. Why they deserve Find a tax bill that has nothing to do with simplifying our tax code. Nothing to do with the growing the wages of American workers. Nothing to do with creating jobs, but everything to do with pleasing the corporate special interests that fund their campaigns and that's what brings us here today that's how Senate Republicans are on the verge of passing with just 51 votes, massive tax cuts for corporations paid for by raising taxes on working families and settling our Grand When, with trillions in death now some of you at home might wonder how the gop can get away with parading. This bill around Middle class tax cut well, it's because the using smoke and mirrors to do the thinking you're getting a tax cut these so called deficit hawks that I've listen to for so long pass the budget that gives them permission to add one point, five Truly into the National death by two thousand 26 so long as they don't add an additional dime to our deficit after 20 20 seventh here's the problem. It's 10 year impossible to permanently slash the corporate tax rate from 35 to 20 percent without hiking taxes on millions of people. I call it inconvenient math that's. Why republicans' offers some Families tiny temporary tax relief without owning up to the fact that cinderella chariot turns into a pumpkin really fast by 20 19 Americans who make under 30000 a year, will be financially worse off under this plan by 20 21 Americans earning 40000 will be worse off and by 20 27 anyone earning less than 75000 dollars a year would be worse off Now admits they found some pretty clever ways to pull off this con job first, they end the state and local tax deduction and force millions of hardworking Middle class families in States like New Jersey to pay taxes twice on the same money. This families are in high rollers in fact, eighty three percent of the jerseyans who claim the state and local tax deduction make under 200000 a year nearly half of them make under a hundred thousand dollars year, so I say it again ending The state and local tax deduction is like one giant good job, a Middle class families and States like New Jersey and my constituents can afford to subsidize the rest of the country. Any more than they already do. But I'll say this about my Republican colleagues at least they're being honest about these state and local tax deduction at least they're being honest about a bill that punishes the States that make the most investments in the Middle class the drive the most innovative Should generate the most federal revenue and yes happen to vote as Democrats, but here's. What really ticks me off it's the safety secret tax hikes. Republicans' buried in this bill that built the billions of dollars from American paychecks in the next two decades again, we know why they have to do it because even after barring two trillion from China there's, no way to pay for permanent. I underline that permanent corporate tax cuts without taking a bigger cut from American workers and boy Have they found a sneaky way to do it. It's the most complicated, convoluted boring tax increase in history and yet it takes 500 billion dollars out of American paychecks and sends it straight into the coffers of multi National corporations. It's called the change. It's a tiny tweak to how the government measures the cost of living so known as inflation now here's the thing about it Nation ask any American walking down the Street if there wages have kept pace with rising cost at the laugh. In your face they'll tell you their incomes of barely budged, while everything from the cost of milk to College tuition gets more expensive. Every year, but what if the government pretend that the rising cost were in such a hardship. Well, that's what the change tax increases but don't take it from me Take it from a Republican tax hero, grover, nor Chris here's. What he has to say about the change back in 20 13. He said this is one of those things invented by people who are trying to raise taxes and pretend they're not if you change the law to get more money that's a tax increase. It doesn't matter. How you do it or what you call it well. This one is right Look we all expect to pay a little more in taxes if we get a big raise at work, but now Republicans want you to pay more in taxes, even if you don't get a raise each year more of your income will be taxed in higher brackets at the very same time, your deductions and tax credits slowly lose their value it's a clever way for Republicans to shave a bit more of your paycheck every year, even if your income has Risen in years it's a Republican tax on wage stagnation and a Republican tax on the millennial generation. That's right millennials are just now entering their Prime earning years and apparently they haven't had it hard enough, not after the great recession have to drowning them in student loan debt because that's what Congress really need to do stick it to the millennials so that the cope brothers can get a nice tax cut for the amazing American people deserve to know the Big lie it's at the heart of the trump tax plan. The meager tax cuts for families are written in disappearing. It while the sneaky tax cuts are carved into stone. It's the Republican majorities dirty little secret. The secret that even after barring two trillion from China, they can't permanently cut taxes for corporations without hiking taxes on millions of Middle class Americans and millions more who Dream of becoming Middle class And we've heard this all before wild claims about tax cuts for the rich trickling down to working families. When you and I both know they never do look. I was in the House of representatives back when Congress passed the Bush tax cuts and, if you remember those I oppose taking the historic surplus that President Clinton had created and President Bush inherited and squandered it on tax cuts 27 percent of which one to the top one per Sent 27 that went to the top one percent, but that's chump change compared to the 60 percent. That goes to the wealthy in the trump tax bill by 20 27 Americans who make 40 to 50000 dollars a year. They'll pay a combined five point. Three billion dollars more in taxes, while those who make Millions get a five point eight billion dollar Cup, so there you have it Republicans are okay with wealth redistribution so long as is taking from working families and giving to the richest one percent and that 60 percent number doesn't include the death blow. This plan delivers to the affordable care act the financial cost to families when 13 million Americans lose their health care coverage and everyone else get saddled with higher premiums mean well some rip Hands are openly admitting that this tax bill will be the first shot fired in their race to dismantle social security. Medicaid and Medicare in fact, the congressional budget office already said that these tax cuts will trigger huge multi billion dollar cuts to Medicare and that's not the only way that this bill screws over america's seniors, according to the aarp five point two million seniors will face higher taxes in the next decade. Think about that, asking Seniors who giving this country a lifetime of hard work to pay for corporate tax cuts and we know what corporations do with those tax cuts during the Bush tax holiday back in two thousand and five republicans' promise. Big games for workers but corporations didn't bring of the billions of dollars. They stash all sure back home, so they could build new factories, create millions of new jobs or pay their workers better wages, lion share Of that one for one to just to things higher pay for ceos and kick back for their investors on Wall Street. So I'm not sure why. White House adviser comb seems so surprise. The other day when so few ceo's said they use the tap trump tax cuts to invest in American jobs. I mean just anyone actually believe things will be any different. This time of course Of how do we know because, unlike Republicans in Congress, corporations cannot lie to their shareholders about what they plan to do with their trillion dollar tax cuts and those heels are openly admitting this one for will go straight to Wall Street. That's. Why I'm pushing for changes to this tax bill that would take away this big corporate tax cuts of workers don't see bigger paychecks of course, that's not Republicans have In mind with this bill at all, this tax plan has nothing to do with helping hardworking families in New Jersey and across America. Get ahead it's not about helping folks. We have good jobs, but still live paycheck to paycheck it's about one thing. Cutting taxes for big corporations that are raking in record profits, but just straight out refuse to pay their workers a decent wage it's about cutting taxes for truck Fun kids who are born on third base and they think they hit a triple it's about paving the way for massive cuts to medicaid Medicare and social security and bankrupting States of the resources they need to invest in education, infrastructure, public health and opportunity for all these are the backward priorities of Republicans in Congress, tax cuts for big corporations and wealthy campaign donors paid for by taking a bigger cut out of workers paychecks and settling our grandchildren with two trillion dollars in debt the only people who come On top well, they're already sitting at the very top so much for draining the swamp. This is about as monkey as it gets. You deserve better and I hope you will speak out so that my colleagues come to their senses and put the brakes on this terrible tax bill. Thanks for joining me