Mr. Speaker, I thank Congressman Veasey for hosting tonight's Special Order hour. Mr. Speaker, we are here, as the gentleman from Texas has stated, to discuss many different issues that face the American people. H.R. 1, which is…
Mr. Speaker, I thank Congressman Veasey for hosting tonight's Special Order hour.
Mr. Speaker, we are here, as the gentleman from Texas has stated, to discuss many different issues that face the American people.
H.R. 1, which is interesting that it holds that number, because based on what we see, that tax cut will only work for the top 1 percent, so we feel that it is appropriate that it was designated H.R. 1.
Mr. Speaker, this tax bill, cut tax scam will devastate over a period of time the working class, people trying to move into the middle class, and middle class families. Eventually, some people might see a bit of a cut, but for most people, there will be an increase.
I do not understand why we continue to think that trickle-down economics is going to work in this country. It has failed time and time again. To give breaks to the most wealthy, somehow we feel that that is going to overflow and trickle and drip down to the middle class. Sometimes a drip is very slow. We continue to wait for this economic equation to work one time in the country's history because, up to this point, it has not worked.
Why would we not allow families to continue to deduct their interest on student loans? Why?
Most of these families are fighting to get their children into college and have to take out loans.
What is it about the country that we need to tax those people?
Tell me why it is that they cannot deduct this interest.
Two of my sisters are teachers, both in education--one in alternative high school work and one a kindergarten teacher for 25 or 30 years. In kindergarten, you are looking to help a youngster become creative, find their gift. On many occasions, with the school not being able to supply things, they would go to the educational stores and buy flashcards and buy other items to enhance the children's education, out of their pockets, out of their personal moneys.
Now you are going to say that they cannot deduct those expenses that they are using to educate our children, our next leaders? Why?
Yet, if you go from a 75-foot yacht to a 100-foot yacht, you are allowed to deduct the difference. Why?
It absolutely makes no sense what we are doing with H.R. 1. It is a billionaire's tax scam, and we need to make sure the American people understand that.
Secretary Mnuchin was on the talk shows on Sunday. He said: Well, we can't promise everybody is going to get a tax break.
So they are even, finally, being honest about it.
Mr. Speaker, everybody might not benefit from this tax cut, but all of the people that they are interested in will benefit from this tax cut.
We need to be honest with the American people. We need true tax reform. My colleagues on this side of the aisle are ready to do that, but the majority continues to stifle any bipartisanship that we can have on this issue.
We need to move forward in a positive way for the American people. We need to come together in this body to help the American people. We do not need another tax cut for the rich.
In New Jersey--a State that only gets 77 cents back on the money that it pays to the Federal Government--for every dollar, we get 77 cents back in services. So we are subsidizing other States.
I heard today that West Virginia, for every dollar it sends, gets over $4 back.
Not to allow New Jersey's citizens and other subsidizing States-- Connecticut, Maryland, New York--to have the tax break on State and local exemptions is almost like double taxing people.
I just am here to say that this is an issue that is very important to the American people. They do need relief and they do need help, but we need to do it in a bipartisan manner that makes sense for the entire country--not just the top 1 percent, but the entire Nation.
Mr. Speaker, I thank Mr. Veasey for his leadership on these Special Order hours. He has demonstrated a gift in bringing issues to the American people and to the country in a manner that is very even- tempered. Some of us get a little excited, but Mr. Veasey seems to be able to keep his composure and still be strong in his message, and I applaud him for that.
Mr. Speaker, we have the highest property taxes in the country, and it is really an effort for families to stay in their homes and pay those property taxes. Any relief they can have along the way helps their quality of life in this country, and that is what we are here striving for, to make sure that everyone can benefit and enjoy the fruits of this country.
Mr. Speaker, I thank the gentleman for the time.