[Congressional Record Volume 164, Number 66 (Tuesday, April 24, 2018)]
[House]
[Pages H3456-H3457]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     POSITIVE IMPACT ON OUR ECONOMY

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
California (Mr. LaMalfa) for 5 minutes.
  Mr. LaMALFA. Mr. Speaker, today, the Tax Cuts and Jobs Act is already 
having an incredibly positive impact on our economy. Hundreds of 
companies have already offered billions in bonuses and raises for their 
employees, far from the crumbs predicted by some of my colleagues, or 
the predicted Armageddon.
  The best part is, this is just the beginning, as the law won't even 
take full effect until next year, when we retire much of the current 
tax calculation process and the burdens of it. That is when taxpayers 
will notice the biggest difference when filing their tax returns.
  Despite these early positive signs, some individuals claim people 
should still pay more in taxes. They also think they themselves should 
pay more, like our friend Bill Gates. He says: ``I need to pay higher 
taxes. I've paid more taxes, over $10 billion, than anyone else, but 
the government should require the people in my position to pay 
significantly higher taxes.'' Interesting.
  Not to be outdone, Mr. Gates' fellow billionaire buddy and Berkshire 
Hathaway CEO, Warren Buffett, has offered similar ideas about the need 
for people like himself to pay more in taxes. Fine. But the amount of 
financial security established by people like this is obviously far 
from mainstream Americans and what they earn themselves.
  Before they amassed their current fortunes, were they as considerably 
outspoken on the need for progressive taxation, long before 
establishing themselves as some of the richest men in the world?
  I don't think so. Indeed, these days, much of their funds are stashed 
away in foundations and not voluntarily paid forward as taxes to the 
U.S. Government. I find that interesting. In short, no amount of 
taxation would truly impact their lives as it would for mainstream, 
middle-income Americans. It does impact everyone else.
  What is more, I do hear some people in the mainstream who are middle-
income folks saying they wouldn't mind paying more in taxes for this or 
that. What I don't get is why they demand that their neighbor does so, 
too.
  In America, many middle-income families enjoying lower rates question 
how well their government is spending and managing what they tax them 
for now. For them, the government report card isn't so good. They don't 
wish to entrust government with more of their earnings and more of the 
hard work from the sweat of their brow to an inefficient bureaucracy, 
even if their neighbors demand that they do, or that the government 
demands it of them by its power of taxation.

  So what I am proposing is a bill with my colleague, Majority Whip  
Steve Scalise, called the Donate Extra Money Against National Debt Act, 
or the DEMAND Act, for those who demand to pay more. This bill will 
allow those who want to pay more than required to simply check a box on 
their tax return and donate as much money to the Treasury as they would 
like.
  Our bill would add to the 1040 tax form a check box and a line 
stating: By checking here, I signify that in addition to my tax 
liability, I would like to donate the included payment to be used 
exclusively for the purpose of paying down the national debt.
  Before, there was no simple or obvious way to accomplish this. This 
makes it easy and obvious in how to do so. This way, anyone who feels 
the need to pay more in taxes has an easy way to do so. For millions of 
other hardworking Americans and business owners who suffered under our 
previous Tax Code and tax law, they will not be forced to do so under 
that Code any longer.
  This bill, indeed, is one of those rare win-wins. Bill Gates and 
Warren Buffett or anyone who feels they are not paying enough can 
donate as much money to the Treasury as they would like, while everyday 
American businesses will thrive in a probusiness and progrowth climate, 
all this without Congress demanding more or people haranguing their 
neighbors.
  After all, the Tax Cuts and Jobs Act is already working. U.S. 
companies are already paying out more than $4 billion

[[Page H3457]]

in bonuses, while over 4 million American workers have already received 
a pay raise, bonus, or other financial investment. Even Warren Buffett 
recently referred to the new law as being a ``huge tailwind'' for 
American businesses.

                              {time}  1215

  As much as Senator Schumer or Minority Leader Pelosi would like to 
trumpet tax reform as unpopular, bad for the economy, Armageddon, or 
just crumbs for people, they are missing the point. Tax reform grows 
more popular each day, especially as more and more Americans see more 
in their paychecks and begin to realize how they stand to benefit under 
this new law, especially when the full extent of the law has not yet 
been felt until next year.
  Instead of taking away those savings and benefits, the majority whip 
and I are giving the people who feel so strongly the option to help pay 
down the deficit on their own accord voluntarily. I applaud the 
philanthropic work of Mr. Gates, Mr. Buffett, and others, but the 
DEMAND Act doesn't force anyone to do anything; it allows certain 
individuals who demand to pay more in taxes to put their money where 
their mouth is.
  Indeed, Senator Biden, a few years ago, said paying taxes is 
patriotic, so let those who demand to pay more, who want to pay more, 
lead the way in the new patriotism.

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