[Congressional Record Volume 169, Number 16 (Wednesday, January 25, 2023)]
[House]
[Page H289]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     TAX EMANCIPATION FOR THE RICH

  The SPEAKER pro tempore. The Chair recognizes the gentlewoman from 
Florida (Mrs. Cherfilus-McCormick) for 5 minutes.
  Mrs. CHERFILUS-McCORMICK. Madam Speaker, in what seems to be a 
concession to the most far-right members of the Republican Party, the 
Republican leadership has scheduled a vote on the alleged FairTax Act 
that would completely overhaul the tax system to blatantly favor the 
rich.
  The proposed legislation would abolish the Internal Revenue Service 
and eliminate all Federal taxes, including the estate taxes and 
corporate income taxes. In place of Federal taxes, the bill would 
impose an effective 30 percent national sales tax across the board.
  The working class would face a substantially higher tax burden as a 
result, and the richest Americans would receive a sizeable cash reward. 
It is difficult to overestimate how regressive this tax would be, and 
according to the tax experts, it would have a wide range of detrimental 
effects, not just on income taxes but also on items like Affordable 
Care Act premiums and the child tax credit.
  The Republicans claim that they are the party of working people, but 
they appear to be making an effort to demonstrate that they are 
absolutely not that. Some of the wealthiest people in our country can 
pay exceptionally low tax rates, avoid paying taxes on their largest 
assets, and pass their fortunes on to their children tax-free because 
of the many ways the tax system is set up to enable corporate taxpayers 
to avoid paying taxes.
  Conservatives have spent decades creating this kind of tax 
emancipation for the rich while waging a fierce battle against attempts 
to reinstate tax enforcement against the 1 percent. This just further 
advantages the wealthy by giving them more opportunities to take 
advantage of the working class. In Florida's 20th District where the 
median household income is under $55,000 a year and families already 
struggle to make ends meet, the FairTax Act will put my constituents at 
a unique disadvantage.
  There is nothing fair about the FairTax Act. This is a handout to the 
rich. Americans will feel the weight of this 30 percent sales tax on 
necessities like food and gas.
  Madam Speaker, I urge my colleagues to reconsider this legislation 
and work with House Democrats on the most pressing issues that face our 
country.

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