[Congressional Record Volume 163, Number 202 (Tuesday, December 12, 2017)]
[Senate]
[Page S7963]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                          Republican Tax Bill

  Mr. WYDEN. Mr. President, a number of Senators have inquired about 
the status of the tax legislation and, particularly, the prospect of a 
real conference committee. It is clear that Republicans are talking 
among themselves, but apparently they feel, with respect to Democrats, 
this is a conference in name only.
  What I would like to do is spell out what we know to date and talk a 
bit about what would really be in the public's interest. Specifically, 
late last night, the public learned through the press that Republicans 
have made no progress--their words, not mine--with respect to the tax 
bill.
  They said that all of the major issues were still outstanding. Then, 
when all of them got up and made their way through their breakfast 
cornflakes, we were told that, magically, everything had just been 
worked out--that everything was worked out and that this bill would be 
ready to go.
  I know they have been trying to move at the speed of light. We had 
yet another dose of fake math yesterday when the Treasury Department 
reported its so-called analysis to project that this bill would 
generate great growth, when, in fact, it comes up $1 trillion short. So 
I would like to make sure the public understands what is on offer as of 
right now.
  My sense is, with respect to the key issue, which is the well-being 
of the middle class, millions and millions of middle-class people are 
going to get hurt by this legislation, millions of them very quickly--
for example, millions are going to lose their health insurance 
coverage. Millions more are going to have high premiums. By 2027, half 
of the middle class in America will actually be paying more in taxes.
  Senate Republicans seem to be talking about a variety of issues, but 
not one of the tax issues they are talking about involves bettering the 
quality of life for America's middle class. We don't hear any 
discussion of that. We hear plenty of discussion about multinational 
corporations. We hear plenty of discussion about rates. We hear 
discussions about pass-through businesses. But all of this is really 
like rearranging the chairs at the country club. Maybe one day the 
multinational corporations will do a little bit better; maybe the next 
day well-off heirs will do a little better. What I heard at my recent 
town hall meetings is that the American people want to make sure that 
the middle class is not always getting the shaft. They want to make 
sure, for example, that in the tax law, the breaks for the 
multinational corporations aren't permanent and the breaks for the 
middle class aren't temporary. They want everybody to have a chance to 
get ahead. It is not too late to change course.
  There are 17 moderate Democrats, led by our colleagues Senator 
Manchin and Senator Kaine, who have said that they are hungry for a 
bipartisan approach to bringing both sides together. I have introduced 
two comprehensive, bipartisan bills with senior conservative 
Republicans--close allies of Mitch McConnell's. We have made it very 
clear that we want a bipartisan bill.
  In that all of these changes are now being discussed and our fellow 
Americans can read about them in the press, take a look and see if you 
see one idea--even one--that is going to make life better for the vast 
majority of working Americans, the folks who work so hard day in and 
day out, who are walking on an economic tightrope, trying to save money 
and trying to educate their kids. We don't hear about one single idea--
not one--that would make life better for the middle class.
  We will have more to say about this tomorrow as, I gather, there may 
be some kind of ceremonial conference committee that is scheduled as 
they try to sort through all of these reports that they are getting 
from lobbyists on K Street because, I guess, lobbyists know lots about 
what the Republicans in the leadership and on the conference committee 
are talking about.
  I want Americans to just read through all of this and look, line by 
line, to try to find anything that is going to make life better for the 
middle class, because I cannot find it. That, as much as anything, 
shows what is wrong with the way this legislation is being pursued.
  What a difference from the way Ronald Reagan pursued tax reform. 
Ronald Reagan said point blank that the working person should at least 
get as good a deal as the investor. He said that we ought to have the 
same rate of taxation for workers as we have for investors. In fact, 
with Ronald Reagan--and I voted for his bill--the corporations, in 
effect, gave up some money to help the workers. Now what we are seeing 
is the workers getting the short end of the stick so that the 
multinational corporations can do even better. We will have more to say 
tomorrow.
  I urge people to look through all of these stories and all of these 
press reports and see if they can find anything that involves a change 
to make life better for the hard-working middle class of our country.