[Congressional Record Volume 163, Number 186 (Tuesday, November 14, 2017)]
[House]
[Pages H9240-H9241]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        TAXES AND A BETTER DEAL

  (Ms. EDDIE BERNICE JOHNSON of Texas asked and was given permission to 
address the House for 1 minute.)
  Ms. EDDIE BERNICE JOHNSON of Texas. Mr. Speaker, the Republican tax 
reform bill coming to the floor this week raises serious questions 
about the impact that this legislation will have on middle class 
families, our ability to invest in our transportation infrastructure, 
and students' ability to attend college.
  My hometown, Dallas, Texas, and every municipality in the region has 
written objections to how they are affected. For one, the GOP tax plan 
eliminates many tax deductions that are favorable to middle class 
Americans, such as the medical expense deduction and State and local 
income and sales tax deductions. These important deductions help middle 
class families lower their tax liability and put more money in their 
pockets for everyday needs of hardworking Americans.
  The plan also looks to an estimated $2.6 trillion stockpiled overseas 
for U.S. corporations. The plan seeks to allow repatriation of these 
funds for as little as 5 percent tax on brick-and-mortar assets, or 12 
percent on cash kept overseas.
  This was one of the same methods being considered to fund the major 
infrastructure bill that we are still waiting for, which raises 
concerns about how we will pay for our crumbling infrastructure.
  Finally, the GOP tax plan also seeks to eliminate the student loan 
tax deduction. This is a troubling change to existing law, as it places 
an even heavier burden on our future generations and others seeking a 
college education. Every college and university in my region has 
complained.
  All of these changes are proposed to the tune of an added $1.7 
trillion dollars to our deficit.
  Mr. Speaker, I share the view with many of my colleagues that we are 
due for a major reform of our tax code. However, we must not do so at 
the expense of millions of middle and lower class Americans are already 
struggling to get by.

[[Page H9241]]

  

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