[Congressional Record (Bound Edition), Volume 163 (2017), Part 14]
[House]
[Page 20156]
[From the U.S. Government Publishing Office, www.gpo.gov]




          EVIDENCE WHY THE AMERICAN PEOPLE REJECT THE TAX BILL

  (Mr. YARMUTH asked and was given permission to address the House for 
1 minute.)
  Mr. YARMUTH. Mr. Speaker, this morning I saw a dramatic bit of 
evidence as to why the American people overwhelmingly reject the 
Republican donor relief bill known as the tax reform bill.
  Chairman Brady of the Ways and Means Committee, the author of this 
bill, was asked why he didn't do anything in the bill to change the 
carried interest deduction, that provision which allows billionaire 
hedge fund managers to pay a lower income tax rate than tens of 
millions of regular Americans.
  He said the middle class Americans don't care about that, working 
families don't. I understand why he didn't want to try to defend the 
protection of carried interest. There is no defense for it.
  But here is why every American ought to care: Because every dollar of 
lost revenue that goes back to those billionaire hedge fund managers 
will result in cut services for the vast majority of Americans, for 
Medicare, for Medicaid, for Social Security, and for many others. It 
will add to the debt that their children and grandchildren will have to 
pay for.
  Mr. Speaker, that is a good reason why everyone should care about 
this bill, why it is a scam on middle class Americans, and why it ought 
to be rejected.

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