[Congressional Record Volume 163, Number 185 (Monday, November 13, 2017)]
[Extensions of Remarks]
[Page E1558]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          REPUBLICAN TAX PLAN

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                       HON. EDDIE BERNICE JOHNSON

                                of texas

                    in the house of representatives

                       Monday, November 13, 2017

  Ms. EDDIE BERNICE JOHNSON. Mr. Speaker, both House and Senate 
Republicans have introduced separate plans to update the U.S. federal 
tax code. Proponents have long argued that the federal tax code is 
overdue for an overhaul that will incentivize businesses to create 
jobs, while opponents feel that the existing proposals do not go far 
enough for middle- and lower-income families.
  It has been 31 years since Congress passed its last major tax reform 
overhaul known as the 1986 Tax Reform Act, signed into law by President 
Reagan. Since that time, the tax code has continued to grow more 
intricate in response to the complexities that accompany globalization 
and the unique challenges that we face in a 21st Century economy. While 
I agree that a modern tax code is desperately needed to help shore up 
funding for critical infrastructure projects, scientific research, and 
education, the Republican tax plan falls short of helping to address 
these dire needs.
  The current plan introduced in the House will expose an estimated 38 
million middle class households to increased taxes, while 
simultaneously reducing the tax liability for some of our wealthiest 
corporations. The bill proposes disastrous cuts to Medicare & Medicaid, 
which many seniors and underprivileged Americans rely on for medical 
care. The plan also eliminates many tax deductions that are favorable 
to middle class Americans, such as the medical expense deduction, 
student loan interest deductions, and the state and local Tax 
deduction. Despite all of these reductions, the House Republican plan 
will cost the American people $1.7 trillion dollars over the next 10 
years in order to pay for tax cuts for corporations and wealthy 
Americans.
  Mr. Speaker, I believe that many of my colleagues will agree that we 
are due for a major reform of our tax code. However, we must be 
extremely careful not to do so at the expense of millions of middle and 
lower class Americans who are already struggling to get by. An 
increasingly globalized economy means that we will need to delicately 
balance our national interests against our ability to compete overseas. 
However, the current tax reform plans in the House and Senate must do 
more to protect American workers, their families, and the critical 
social programs on which they depend.

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