Gop Tax Scam

Floor Speech

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Ms. KAPTUR. Mr. Speaker, as certain as March 20 is the first day of spring, today, April 17, at midnight, is the tax filing deadline for 2017 returns. Months after passing the $1.8 trillion deficit-busting tax giveaway, Republicans are still trying to sell their trickle-down tax scam.

In fact, Republicans are so desperate to spin the tax scam that a GOP-sanctioned PAC group will spend $1 million on TV ads to convince us of what we know isn't true. The American people aren't buying it.

Republicans' huge tax bonanzas to corporations and billionaires is not trickling down to the American people. It is billions of dollars in tax givebacks to major corporations, but 12 cents to the average worker.

Instead of stuffing the tax scam with corporate giveaways, we should have closed the carried interest loophole, one of many promises President Trump made during his campaign and then broke. That loophole lets hedge fund managers pay a 20 percent tax on their investment profits instead of the 37 percent individual income tax.

The Republican tax plan is pure greed, and we should reverse it at our first opportunity.

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