Setting Forth the Congressional Budget for the United States Government for Fiscal Year 2022 and Setting Forth the Appropriate Budgetary Levels for Fiscal Years 2023 Through 2031

Floor Speech

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Mr. GRASSLEY. I call up amendment No. 3251, and ask that it be reported by number.

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Mr. GRASSLEY. Now hear me. You will be shocked what the Democrats want to do in their budget. They want to use reconciliation to provide a $120 billion tax cut to the wealthy through SALT relief. The nonpartisan Joint Committee on Taxation estimates 51 percent of the benefit from that repeal would go to those making over $1 million, while those with incomes under $50,000 wouldn't see any benefit.

The liberal Tax Policy Center says the top one-tenth of 1 percent of households would receive an average tax cut of $144,000 a year.

Democrats cry the wealthy are not paying their fair share, at the same time proposing to give billionaires six-figure tax cuts. If my Democratic colleagues are genuine in their concern about the wealthy paying too little taxes, their budget is not the way to do it.

So vote to support my amendment to impose restrictions on repealing and modifying the SALT cap that would result in tax cuts for the wealthy.

I reserve my time.

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Mr. GRASSLEY. Do I have any time left?

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Mr. GRASSLEY. Mr. President, the Senator from Oregon should have read the 2017 tax bill, and he wouldn't give a speech like that. The Wyden amendment is an example of Democrats on the one hand complaining the wealthy pay too little tax while supporting massive tax cuts for the rich.

Nothing in my amendment prevents changes to the Tax Code that would make it more progressive. Capping the SALT deduction as part of the 2017 tax bill increases the progressivity of the Tax Code and allowed for larger tax cuts to the middle class. Undoing the SALT cap would make the Tax Code less progressive and jeopardize middle-class tax cuts that it helped enable.

Anyone who supports the wealthy paying their fair share should have supported my amendment and vote no on the Wyden amendment. Vote on Amendment No. 3569

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Mr. GRASSLEY. Madam President, I call up my amendment No. 3650 and ask that it be reported by number.

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Mr. GRASSLEY. This amendment creates a deficit-neutral reserve fund for legislation that would prevent illegal immigrants with criminal records from obtaining lawful permanent resident status in our country. It is pretty simple. Prohibiting illegal immigrants with criminal convictions or pending criminal charges from receiving legal status in the United States should be a very easy call and shouldn't be very controversial. I urge my colleagues to support it.

I reserve my time.
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