Floor Statements

Mr. Speaker, the reckless, regressive, and reprehensible Republican budget cuts funding for Social Security, cuts Medicare, cuts Medicaid. The Republican budget cuts funding for Meals on Wheels, cuts funding for school violence prevention programs. It even cuts funding for the Special Olympics.

Who does that?

The Republican budget seeks to balance itself on the backs of working families, middle class folks, senior citizens, the poor, the sick, the afflicted, veterans, rural America, and the safety of our children. It is an abdication of responsibility. It is a dereliction of duty. It is a stunning act of legislative malpractice. The reckless Republican budget is a raw deal for the American people.

Democrats have a better deal focused on better jobs, better wages, and a better future for the American people. Democrats have a better deal focused on higher pay, lower costs, and providing the American people with the tools to succeed in a 21st century economy. Democrats have a better deal focused on improving the quality of life of everyday Americans.

Mr. Speaker, I rise today in recognition of the 100th Anniversary of the Brooklyn Chamber of Commerce. On February 10, 2018, the Brooklyn Chamber of Commerce celebrated a century of strengthening local businesses and making invaluable contributions to the local economy.

Established in 1918, the Brooklyn Chamber of Commerce has assisted businesses through innovative programs that have helped grow and promote Brooklyn's economic landscape. In 1922, the organization expanded their outreach by hosting the Manufacturers Industrial Show, highlighting over 200 Brooklyn manufacturers and opened its membership to women. Just five years later, the chamber of commerce had become the second largest in the United States.

In the 1980's the United States Small Business Administration formally recognized the Brooklyn Chamber and their commitment to protecting and promoting the commercial and industrial components of the city and their outreach efforts, technical assistance and referrals on behalf of minority and women-owned businesses.

Under the leadership of Andrew Hoan, President and CEO of the Chamber has experienced considerable growth, exceeding over 2,000 members and launching several exciting initiatives across the borough. As an example, Explore BK, Brooklyn Made have allowed tourists and Brooklynites alike to connect with local businesses and provided businesses with a national platform. The continued success of the Brooklyn Chamber of Commerce would not be possible without the support and dedication of its faithful partners and members.

Mr. Speaker, in honor of the history and legacy of this trailblazing organization and the many committed people who make it a success, I ask that you and my other distinguished colleagues join me in congratulating the Brooklyn Chamber of Commerce on its 100th anniversary.

Mr. Speaker, I rise today to make it clear that treason is not a laughing matter. It is a serious crime embedded in the Constitution, punishable by death. But since your Commander in Chief chose to raise it at a political rally, let's have a discussion about treason.

Is it treason for a Presidential campaign to meet with a hostile foreign power to sell out our democracy and rig the election?

Is it treason for a Presidential campaign to meet with Russian spies who promised information that was negative about a political opponent and then failed to report that meeting to law enforcement officials?

Is it treason for your former National Security Adviser to be a Russian asset sitting at 1600 Pennsylvania Avenue doing the bidding of Vladimir Putin?

How dare you lecture us about treason. This is not a dictatorship. It is a democracy, and we do not have to stand for a reality show host masquerading as President of the United States of America.

Mr. Speaker, I thank the distinguished gentleman from Georgia for yielding and for his tremendous leadership on this issue.

Here in America, if you work hard and play by the rules, you should be able to provide a comfortable living for yourself and for your family; but for

far too many American workers, that basic contract has been broken.

Since the early 1970s, the productivity of the American worker has increased in excess of 285 percent; but during that same period of time, wages have increased by less than 10 percent. So the productivity gains of the American worker have not gone to the American worker; instead, they have gone to the privileged few, to millionaires and billionaires and to big corporations to subsidize the lifestyles of the rich and shameless. That is the America that we are dealing with right now.

Some may explain it as a result of globalization; some may say it is fully negotiated trade deals; some may say it is the outsourcing of good-paying American jobs; some may say it is the rise of automation. Certainly, all of those factors are implicated, but the decline in unionization has been a significant, if not decisive, reason that so many people have been struggling to achieve the American Dream.

And now the Supremes, in their wisdom, want to give us another raw deal, rightwing hit to benefit the wealthy and the well-off to the detriment of hardworking Americans. So let's hope that Justice Kennedy does the right thing, that five Justices on the Supreme Court see themselves to not interfere and overturn settled law for the purpose of continuing a march to benefit the privileged few to the detriment of hardworking Americans.

Mr. Speaker, I thank the distinguished gentleman from California for yielding and for his forceful advocacy and brilliant articulation of

the GOP tax scam and all that it represents.

It really is a wolf in sheep's clothing. It is the ultimate hustle. It is nothing but a classic bait and switch. It is a fraudulent Ponzi scheme. The notion that this bill is designed to help benefit middle class folks and working families, those who aspire to be part of the middle class, is such complete fiction when 83 percent of the benefits of the GOP tax scam will go to the wealthiest 1 percent in America.

We know that at least 36 million middle class families, if not more, will experience a tax increase. Medicare, as was just articulated, will be undermined, the deficit will explode, and our children and grandchildren are being asked to shoulder at least $1.5 trillion in additional debt to pay for tax cuts for millionaires, billionaires, special interests, corporations, and big donors to our friends on the other side.

Don't take my word for it. There have been Members of this House who have indicated they needed to get this massive tax cut for wealthy individuals done or their donors would stop contributing. We didn't say that. That is folks from this Chamber on the other side of the aisle when talking about the urgency of jamming this reckless tax scam down the throats of the American people.

As the Congressman, the distinguished gentleman from California, just articulated, the whole premise that anyone other than the wealthy and the well off is going to benefit is built upon the fraud of trickle- down economics, when there is absolutely no evidence that trickle-down economics has ever done anything for everyday Americans.

When Ronald Reagan cut taxes on millionaires in 1981, we didn't get explosive economic growth. We got an explosion in the deficit.

When George W. Bush cut taxes on millionaires and billionaires in 2001 and 2003, we didn't get explosive economic growth. We got the Great Recession in terms of the legacy of the Bush economy.

Then there was the so-called great Republican experiment in Kansas, where a Republican State Legislature and a Republican Governor massively cut taxes on the wealthiest, top folks in Kansas.

And was there massive economic growth?

No. We got prison riots, overcrowded classrooms, and crumbling infrastructure.

Those are the facts. That is what so-called trickle-down economics has yielded, and now this fraud is being perpetrated on the American people.

It is shameful. It is our children and grandchildren who are going to deal with the consequences of this highly partisan effort to benefit the wealthiest amongst us. It is a raw deal for the American people.

We are going to offer a better deal for the American people; focus on better jobs, better wages, and a better future; focus on higher pay, lower cost; and giving the American people the tools to succeed in the 21st century economy by focusing on a real infrastructure bill, real training, real community college opportunity, real tax reform for middle class Americans and those who aspire to be part of it.

I thank the distinguished gentleman for yielding, for his leadership in this area, and I look forward to working together to deliver to the American people the better deal that they deserve.

Mr. Speaker, it certainly is the case that because of the GOP tax scam, because of the $1.5 trillion in additional debt that we, as a country, will now have to shoulder so that massive tax cuts can be provided to millionaires, billionaires, special interests, corporations, and big donors, that we are not necessarily in a position to responsibly fund the type of infrastructure plan that the Nation deserves to fix our crumbling bridges, roads, and tunnels.

We believe, as Democrats, that the American people, in that regard, deserve a better deal, a better deal, again, focused on higher pay, lower costs, and the tools to succeed in the 21st century economy.

One of the ways that you deliver better jobs is through a meaningful infrastructure plan that is appropriately funded, not on the backs of working families, middle class folks, and everyday Americans. It should be funded in an appropriate way. Those who can afford to pay should be paying their fair share. But we just went through a reverse Robin Hood process as it relates to this tax bill, and that is unfortunate.

I am hopeful that we will proceed in a bipartisan way. The President has indicated that he thinks that would be an appropriate approach. We will see whether that is a genuine articulation of a way forward or not. But we cannot repeat the mistakes that were just attendant to the process of jamming this tax bill down the throats of the American people and jamming us in a way that will hurt everyday Americans.

Mr. Speaker, I think that is exactly right. The gentleman's concerns and suspicions are well-founded based upon the approach that was taken by this Congress on the other side of the aisle in connection with the tax bill.

So the individual tax cuts, to the extent that there are any that will be felt by the American people, are modest; the corporate tax cuts are massive.

The individual tax cuts are temporary; the corporate tax cuts are permanent.

The ability of individuals to take a State and local tax deduction has been decimated; the ability of corporations to use the State and local tax deduction on their corporate tax return is untouched.

The moving expense deduction for individuals has been eliminated, but corporations can continue to take moving expense deductions for closing down a factory or a plant here in America and shipping those good- paying American jobs overseas to China, India, or other parts of the world.

That is correct.

Absolutely.

It is totally outrageous, and it is exactly why the gentleman's concern about what our colleagues may be attempting to do with respect to the infrastructure bill is real. Because what we have just seen is an effort to massively transfer wealth from individuals and from everyday Americans to wealthy Americans and incredibly well- off corporations in ways that should never be possible in the United States of America.

Absolutely. And I found this sort of whole discussion of trying to punish taxpayers in California, New York, New Jersey, Connecticut, Illinois, and Pennsylvania to benefit States in the Deep South or other parts of the country that already receive more from the Federal Government than they give in return to taxes to be outrageous, and this will just continue the inequity.

New York regularly sends $40 billion more to the Federal Government than we get back in return, and they have just made a bad situation worse. The same for California.

Mr. Speaker, I look forward continuing to work together for the gentleman's advocacy. We will dissect this tax bill for the American people, continue to discuss it, expose its fraudulent nature, and also lay out in clear terms the better deal we are offering, focused on better jobs, better wages, and a better future.

Mr. Speaker, Yogi Berra once said: ``It is like deja vu all over again.''

So today we are back on the House floor after this big, dramatic celebration of this supposedly historic bill, a Republican tax bill that really is nothing more than a wolf in sheep's clothing.

It is the classic bait and switch. It is a Ponzi scheme. The tax cuts aren't going to be meaningful for working families and everyday Americans, and the jobs will never materialize.

It is a Republican tax bill that is simply designed to benefit millionaires and billionaires, the wealthy and the well-off, special interests, corporations, and big donors. It is a shameful abdication of responsibility, a dereliction of duty, and an incredible malicious act of legislative malpractice. It is all based on this phony, fraudulent, and fake theory of trickle-down economics.

Where is there any evidence that trickle-down economics has ever worked for the American people?

Ronald Reagan cut taxes for millionaires in 1981. We didn't get strong economic growth. We got a deficit that exploded.

George W. Bush cut taxes for millionaires and billionaires in 2001 and 2003. We didn't get strong economic growth. We got the worst economy since the Great Depression.

And, in Kansas, when you had this great Republican experiment and you were going to cut taxes for the wealthy and the well-off and for companies, what happened? Did they get strong economic growth in Kansas?

No. You got prison riots, overcrowded classrooms, and crumbling infrastructure.

Trickle-down economics, what does it mean for the middle class?

You may get a trickle, but you are guaranteed to stay down.

This bill is shameful in your attack on middle class Americans. Millions of homes will get a tax increase. You will undermine Medicare and explode the deficit.

Don't ask me. Paul Ryan himself made that point.

Our children and grandchildren are forced to shoulder $1.5 trillion in debt simply to pay for the lifestyles of the rich and shameless.

Shame on you.

Vote ``no'' against this reckless GOP tax scam.

Mr. Speaker, I thank the distinguished gentlewoman from Hawaii (Ms. Hanabusa) for yielding, as well as for her leadership. I also thank Chairman Bishop for his leadership in helping to move this legislation forward.

Mr. Speaker, I rise in support of H.R. 3979, the Keep America's Refuges Operational Act, a bipartisan bill that will reauthorize the volunteer, community partnership, and education program for our National Wildlife Refuge System.

Let me begin by thanking my good friend, the distinguished gentleman from the Commonwealth of Virginia (Mr. Wittman), who has partnered with me on this legislation and is a strong champion for our country's refuges.

This commonsense, bipartisan legislation will support conservation efforts at our Nation's refuges in a way that saves taxpayers dollars and stimulates jobs and economic opportunity.

Our National Wildlife Refuge System is comprised of 566 refuges located in every U.S. State and territory. Refuges make up over 800 million acres of habitat dedicated to the conservation of fish and wildlife.

Each year, 47 million Americans visit refuges, which help to support local economies by generating over $2 billion in revenue and more than 35,000 local jobs. People visit refuges from all over the country to explore, hunt, fish, and experience America's natural beauty.

Refuges also help to mold the next generation of conservationists and outdoor enthusiasts by providing learning experiences and cherished memories for America's families. Refuges have a tremendous impact for communities all over America, even in my hometown of Brooklyn, New York.

But this wouldn't be possible without help from dedicated volunteers, who donate 20 percent of the total service work at our refuges. They support full-time staff by helping to operate visitor centers; conduct fish and wildlife population surveys; maintain visitor structures, roads, and paths; fight invasive species; and protect native plants and animals.

While volunteers may vary in age, background, and skill set, what they all have in common is their dedication to preserving our country's natural beauty so that we can all enjoy it for years to come.

Advancing this legislation has been a collaborative process, and I greatly appreciate the hard work of Mr. Wittman and Members on both sides of the aisle. Through this bipartisan legislation, we will demonstrate the economic benefits to be gained from protecting America's natural beauty and being good stewards of the environment God has given to us all.

Mr. Speaker, I encourage all of my colleagues to support H.R. 3979.

Mr. Speaker, the Republican tax scam will raise taxes on 36 million middle class Americans, undermine Medicare, and explode the deficit. It will saddle our children and grandchildren with more than $1 trillion in additional debt simply to pay for an unnecessary, un-American, unconscionable tax cut for millionaires, billionaires, special interests, corporations, and big donors.

To justify this reckless Ponzi scheme, the Treasury Department has produced a 1-page analysis.

Really? One page? That is the best you can do?

You are insulting the intelligence of the American people, insulting the intelligence of this Congress, and insulting the intelligence of our Democratic republic.

The American people deserve a better deal.

Mr. Speaker, I thank the distinguished gentlewoman from California for yielding and for her leadership as well as her support, in addition to Ranking Member Grijalva, Chairman Bishop, Chairman LaMalfa, and the entire committee for moving this bill expeditiously to the House floor and for their leadership and partnership in this regard. I also want to thank my good friend and fellow Judiciary Committee member, Congressman Chabot, for his support, leadership, and cosponsorship of this legislation.

Words definitely matter. They can cause great harm and division, particularly when they are embedded in Federal statute.

So this step that we are taking today, as it relates to the 21st Century Respect Act, is important, as a symbol from this Congress, the people's House, to the Nation that we can come together, that we are all fellow Americans, and that outdated, antiquated, and racially stereotypical terms like Negro and Eskimo and Oriental are not appropriate at this time in America. They reflect a more divisive bygone era.

Mr. Speaker, I am thankful to all of my colleagues for coming together in this regard, a small but meaningful step in an era otherwise characterized by great division, and perhaps an indication that we can come together as Democrats, as Republicans, and as people of diverse racial backgrounds to heal whatever divisions may remain in our society.

Mr. Speaker, I thank all of my colleagues for their leadership and support.

Mr. Speaker, while House Democrats continue to focus on better jobs, better wages, and a better future for the American people, House Republicans have put forward a phony, fraudulent, and fake tax reform plan.

The Republican tax scam will raise taxes on 36 million middle class families, undermine Medicare, and explode the deficit. It will saddle our children and grandchildren with more than $1 trillion in additional debt simply to pay for massive tax cuts for millionaires, for billionaires, for special interest corporations, and for the privileged few.

It is all being done simply to subsidize the lifestyles of the rich and shameless. It is a Ponzi scheme. It is a heat-seeking missile aimed directly at middle class families. It is a flimflam, and it must be defeated.

Mr. Speaker, last night all throughout our great country, hatred lost in America; fear-mongering lost in America, race- baiting lost in America, xenophobia lost in America, homophobia lost in America, Confederate monuments lost in America, the war on Medicaid lost in America, voter suppression lost in America, the Trump playbook lost in America, and the make America hate again agenda lost in America.

Democrats will continue to focus on the economic well-being of the American people, will continue to fight for better jobs, better wages, and a better future for the American people.

Democrats will continue to fight to deliver a better deal.

Mr. Speaker, another day, another tragedy here in America. These are difficult times in this country, and it seems that we have spent the last several months careening from one tragedy to the next: from the congressional baseball shooting to Charlottesville, from Charlottesville to Las Vegas, from Las Vegas to the terrorist attack in New York, from the terrorist attack in New York to a mass shooting at a Baptist Church in south Texas.

Something is wrong here in America, yet all we seem to do is to come to Congress, have a respectful moment of silence, and then move on as if everything is okay. It is not okay.

It is time for this ``do-nothing Congress'' to do something, do anything to help stop the carnage that is taking place in our great country.

Madam Speaker, the so-called Republican tax plan will increase taxes on the middle class, explode the deficit, and undermine Medicare and Medicaid. It will saddle your children and grandchildren with more than $1 trillion in debt, simply to provide millionaires and billionaires with a massive tax cut.

Now, House Republicans will argue that trickle-down economics, supply-side economics, and dynamic scoring will somehow magically save the day. But the notion that massive tax cuts for millionaires and billionaires will somehow result in strong economic growth is a phony, fraudulent, and fake argument. It has no basis in reality. There is no evidence to support this fantasy.

When Ronald Reagan cut taxes on millionaires and billionaires, it didn't result in strong economic growth. It led to a massive deficit.

When George W. Bush cut taxes on millionaires and billionaires, it didn't result in strong economic growth. It led to the Great Recession.

When the Republican Governor of Kansas cut taxes on millionaires and billionaires, it didn't result in strong economic growth. It led to prison riots, overcrowded schools, and crumbling infrastructure.

We cannot allow this scheme to happen to the United States of America. The American people deserve a better deal.

Mr. Speaker, I thank Representative Jayapal, my good friend and tremendous colleague on both the House Budget Committee and the House Judiciary Committee, the distinguished gentlewoman from the great State of Washington, for her tremendous advocacy, for anchoring this Congressional Progressive Caucus Special Order, and for addressing the American people on this critically important issue, so-called tax reform put forth by House Republicans today in a manner that is clear- eyed, that is authentic, that is comprehensive, and that will hopefully awaken the American people to the notion that this is an attempt by House Republicans to do nothing more than to jam tax cuts for millionaires and billionaires down the throats of the American people.

Now, I represent the Eighth Congressional District in Brooklyn and Queens. I am proud to be a Member of the House of Representatives, proud to be from the city of New York. And we are generous people in New York City; generous people in New York State. In fact, New York State regularly sends tens of billions of dollars more to the Federal Government than we get back in return.

The State of Connecticut sends billions of dollars more to the Federal Government than they get back in return. So does New Jersey. So does California. So does Illinois. So does Pennsylvania. And, for decades, we have allowed that generosity to continue to show itself in terms of the fact that we get shortchanged in homeland security dollars, transportation and infrastructure dollars, and a whole host of other Federal funds that disproportionately make its way to other parts of the country, often to States in the deep South.

We are generous people. But at what point is enough enough? And today, you have crossed the line by putting a target on the backs of people in New York, and New Jersey, and Pennsylvania, and Illinois, and California, and several other States, including people who live in places like Charleston, South Carolina, or other cities that may have relatively modest State taxes, if any at all, but who are taxed at the local level, or who pay property taxes.

And so everyone throughout the United States of America, tens of millions of people, are going to be hurt by this Republican tax plan, because of the limitations on deductibility related to State and local taxes, because of the draconian limitations on deducting property taxes, and because of the limitations placed on middle class homeowners as it relates to the mortgage interest deduction. You can't make this stuff up.

The Republican tax plan is nothing more than a Ponzi scheme to provide a windfall to millionaires and billionaires, the wealthy and the well-off, to special interest corporations, and to hide it in the notion that it is a middle class tax cut. The Republican tax plan won't help the middle class. It will hurt the middle class. It is a Ponzi scheme. It will undermine Medicare and Medicaid. It will impose billions and billions of dollars in additional deficit. It will force your children and grandchildren to shoulder approximately $1.5 trillion in additional debt. And this is all being done in order to provide massive tax cuts to millionaires and billionaires, the overwhelming majority of whom will be the ones who disproportionately benefit from the so-called tax reform plan. Yes, it is a Ponzi scheme.

And why do I say that? Well, because what you are going to hear is that trickle-down economic theory; supply-side economic theory; or the latest word craft that they have come up with, dynamic scoring, will result in a situation where these massive tax cuts for millionaires and billionaires, and for special interest corporations, will somehow magically result in unprecedented economic growth. Sounds good.

The only problem is that it is a failed, fraudulent, and fake argument. It is a fantasy that has no basis in reality.

When Ronald Reagan, in 1981, cut taxes for the wealthy and for the well-off, we didn't get unprecedented economic growth, we got massive deficits.

When George W. Bush cut taxes for the wealthy and for the well-off in 2001 and 2003, we didn't get unprecedented economic growth, we got a Great Recession--the worst economic crisis since the Great Depression.

When the Republican Governor of Kansas moved forward with what he

called the Kansas experiment, massively cut taxes for the wealthy and for the well-off in Kansas, so much so that the wealthiest 300,000 folks from Kansas didn't pay a single dollar in taxes at all--the people of Kansas were promised unprecedented economic growth, unprecedented job creation--this is the Republican Governor of Kansas-- when he cut taxes, you didn't get unprecedented economic growth. What you got were prison riots, overcrowded classrooms, and crumbling infrastructure.

The Republican tax plan is nothing more than a Ponzi scheme. Supply- side economics has failed; trickle-down economics has failed; dynamic scoring is a fantasy. We would say in Brooklyn: Don't believe the hype. We will surgically communicate to the American people why the Republican tax plan will hurt the middle class, hurt working families, hurt children, hurt senior citizens, and hurt those who aspire to be part of the middle class.

And one last point that I would make: I am shocked that you would put a target on the back of people who are paying State and local taxes-- presumably because you think this is a deduction that the American people no longer deserve--but then in your same tax plan you allow corporations and businesses, wealthy titans of corporate America who run these companies, to continue to deduct State and local taxes on their corporate tax returns. Seriously? You don't even pretend to have equitable treatment? Oh, I forgot: corporations are people, too.

This is an extraordinary scheme that they are going to try to jam down the throats of the American people. But we are here, as Democrats, to make sure that the American people understand that you are being offered a raw deal. We are going to present to you and fight for a better deal for middle class tax cuts, for tax cuts for small businesses, tax cuts for working families, and to make sure that people in America continue to pay their fair share.

Mr. Speaker, I thank the distinguished gentlewoman from Washington for yielding to me.

Mr. Speaker, I think that is a great question, and it is deeply troubling.

You hear the words ``regular order.'' That is a Washington, D.C., phrase, but we can translate it for the American people. Regular order equals democracy, and democracy is being undermined as it relates to the Republican tax plan, Ponzi scheme, because they are going to try to jam it down the throats of the American people.

Not a single meaningful hearing, as was done on a bipartisan basis in 1986, when Ronald Reagan and Tip O'Neill got together to reform the Tax Code in a meaningful way, in a bipartisan way, in a thoughtful way. But, unfortunately, regular order, democracy, is being undermined by this Republican-led Congress, as it relates to this tax bill.

Well, I appreciate you going through that important list. I think it can be distilled, you know, quite simply.

The winners of the Republican tax plan are the billionaire boys club; the losers are the American people, everyday Americans, all premised, again, on, and you are going to hear this over and over again, dynamic scoring--sounds great--trickle-down economics.

You know, I figured out that trickle-down economics essentially means, for the middle class, you may get a trickle, but you are guaranteed to stay down, because there is no evidence--no evidence from the Reagan experiment, no evidence from the Bush experiment, no evidence from the Brownback experiment in Kansas, no evidence--that if you cut taxes for the wealthy or the well off, for special interest corporations, whether you do it directly or through passthrough entities, that when you cut those taxes, it results in strong, unprecedented economic growth. In fact, our history tells us precisely the opposite.

Bill Clinton raised the top tax rate on high-income earners from 35 percent to 39.6 percent. Did we suffer from a recession as a result of increasing taxes on millionaires and billionaires so that they would pay their fair share? No, quite the opposite--unprecedented economic growth, 20 million-plus jobs created during 8 years of Bill Clinton.

Then George W. Bush comes into town, and we actually had a balanced budget at that time. What does he do? Deficits don't matter according to the Bush administration. We are going to stimulate tremendous economic growth by cutting taxes on millionaires and billionaires because of trickle-down economics, supply-side economics, dynamic scoring, lower the tax rate from 39.6 on millionaires and billionaires to 35.

What happened? We lost more than 500,000 jobs in 8 years of the Bush Presidency.

Barack Obama comes into town and we had all of these doom-and-gloom projections from my good friends on the other side in terms of what was going to happen. He campaigns on millionaires and billionaires paying their fair share, raises the top tax rate from 35 percent to 39.6 percent. Twelve million-plus private sector jobs were created during 8 years of the Obama Presidency.

That is why I say that the Republican tax plan is nothing more than a Ponzi scheme based on a failed, fraudulent, phony theory of trickle- down economics that has no basis in reality.

I thank the distinguished gentlewoman from Washington for yielding and being so generous and thoughtful in her discussion.

Mr. Speaker, while House Democrats are focused on delivering better jobs, better wages, and a better future for the American people, House Republicans have once again presented a budget that is reckless, regressive, and reprehensible.

It is a ``billionaire-first, middle class-last tax plan.'' It will not help the middle class. The House Republican budget and tax proposal will hurt the middle

class by raising taxes on working families and middle-income Americans.

The House Republican budget and tax plan is nothing more than a wolf in sheep's clothing. It will benefit the wealthiest and the well-off here in this country. Eighty percent of the tax cuts proposed in the Ryan-McConnell plan will go to the wealthiest 1 percent in America, to millionaires and billionaires, to the privileged few, to special interest corporations. It will not lead to economic growth. It will saddle this country with trillions of dollars in additional debt and deficit.

It is based on a phony, fraudulent, and failed theory of trickle-down economics, which I finally figured out what it relates to in terms of the middle class. You may get a trickle, but you are guaranteed to stay down. Stay down because they are going to undermine your Medicare, stay down because they are going to undermine Social Security, and stay down because they are going to saddle your children with trillions of dollars of additional debt.

Mr. Speaker, reject this plan. It is a bad deal for the American people. They deserve a better deal.