Yarmuth Denounces the GOP Tax Scam on House Floor
Washington, D.C. – Kentucky Congressman John Yarmuth, Ranking Member of the House Budget Committee, delivered the following remarks on the floor of the U.S. House of Representatives in opposition to the GOP tax proposal, which will provide massive tax breaks to millionaires and corporations paid for on the backs of middle class families. Video and his remarks as prepared for delivery are below:
Thank you Mr. Speaker. This is a horror show today. This is a horror show debate. This is a horror show process. But it’s a disaster for the American people. The bill we are debating today will abandon millions of American families. It showers the wealthy and corporations with massive tax cuts, and adds $1.5 trillion dollars to our deficits. The top one percent get this massive pay-out, in the neighborhood of $500 billion dollars. Hard-working families get pocket change. But millions don’t even get that. In fact 36 million middle class families will pay more in taxes because of this bill.
Our Republican colleagues will be taking money out of the pockets of those families to give more tax cuts to the rich. But it doesn’t stop there--it never does.
Because this is part of a dangerous three-step process that we’ve seen unfortunately far too often.
The first step. Republicans enact massive tax cuts for the rich, claiming they will generate enough growth to pay for themselves.
I know my Republican colleagues desperately want the American people to believe this is what will happen. But the record is clear, it failed in the 1980s and the 2000s. It was an epic failure in Kansas. This is about politics, not reality for them. Which brings us to step two.
Once these cuts fail to produce the growth that they promised, Republicans will shriek about the impending doom of high deficits and debt.
Then they quickly move to step three. Demanding cuts in vital programs that benefit working families throughout our country.
We’ve seen this act before. As I said, it is a horror show. There’s a reason a lot of people are looking at this and saying this is the great tax scam of 2017. Because it is the great tax scam of 2017.