[Congressional Record (Bound Edition), Volume 163 (2017), Part 11]
[House]
[Pages 15780-15781]
[From the U.S. Government Publishing Office, www.gpo.gov]




                      BILLIONAIRES FIRST TAX PLAN

  (Mr. KILDEE asked and was given permission to address the House for 1 
minute.)
  Mr. KILDEE. Mr. Speaker, last week, Republicans brought their extreme 
budget to the floor, a budget that forces the middle class to pay more 
in taxes just to give the wealthiest Americans a massive tax break.
  This budget slashes investments in our future, such as rebuilding 
roads

[[Page 15781]]

and bridges and education, just so it can provide huge tax breaks to 
the absolute wealthiest Americans. Billionaires would receive a massive 
tax cut under this plan.
  Under this ``billionaires first'' tax plan, according to the 
nonprofit, nonpartisan Tax Policy Center, middle class families would 
pay an average of $1,290 a year more in taxes, while 80 percent of the 
benefits would go to the wealthiest 1 percent of Americans: the 
superwealthy. By repealing the estate tax, 5,400 families would receive 
a $270 billion tax break.
  Who pays for this? The middle class.
  How? By passing the costs on to them and increasing our deficit at 
the same time. Trillions of dollars would be added to our deficit.
  Giving billionaires a massive tax break is fiscally irresponsible and 
morally wrong. We ought to reject it.

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