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Why I Opposed the Tax Bill

Floor Speech

Date: Feb. 1, 2024
Location: Washington, DC

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Mr. CASAR. Mr. Speaker, I opposed the tax bill last night. To me it was pretty simple, because whether I am in Austin, Texas, or San Antonio, Texas, whether I am in a group of seniors or with young people, in front of more liberal constituents or conservative ones, one of the most common questions I get asked is: Why is it that I and everyday Americans pay such a higher effective tax rate than some of the biggest corporations in this country?

How is it that FedEx and T-Mobile would pay none, zero, in Federal income tax at all?

And the answer is: Look no further than the bill that we voted to pass last night, which provided tens of billions, if not hundreds of billions, in giveaways in corporate tax breaks.

Importantly, as folks have noted, packaged into the bill is a watered down partial return of the child tax credit, which thankfully, will help thousands of families. But for every dollar going to kids in the bill, $5 goes to corporations.

So in short, instead of helping thousands of kids, we could have helped millions of kids. We have the money to pull kids out of poverty, to ensure that people in this country are housed, fed, and educated. The money is there. In this case, the money was sitting right there in this bill--just in the wrong people's pockets.

We have to be willing to move the money from corporate pockets over to kids and families. We could provide working-class and middle-class tax cuts. We just have to be willing to fight and negotiate harder to end the giveaways to billionaires.

Mr. Speaker, just like the ranking member, I am open to compromise, but instead of a deal where corporations get $5 for every $1 that kids get, what about a compromise where kids get $5 for every dollar that corporations get?

I oppose this bill because we can do so much better. It is such a missed opportunity. We have to be willing to say no to deals that are so lopsided that workers get crumbs while corporate executives get a full steak dinner.

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