I agree real tax reform is absolutely necessary. 2/18
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ICYMI: Spoke on the @HouseFloor this AM about the #GOPTaxSCam & need for REAL tax reform. 1/18 http://cs.pn/2zSDJii
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In 2013, the
@HarvardHBS published a report that identified the most important federal policies to promote American growth and competitiveness. 3/18Show this thread -
Two of the eight priorities were tax-related: first, simplify the corporate tax code with lower statutory rates and fewer loopholes. Second, reform the taxation of foreign profits so we don’t disadvantage American businesses and workers. 4/18
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Many Democrats would work with the majority to achieve these pro-growth tax reforms; that’s how it worked in 1986 under President Reagan and Speaker O’Neill. http://nyti.ms/2jyONqa 5/18
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We know the national debt itself is anti-growth. That’s why the same Harvard study that advocated tax reform also prioritized a stable federal budget. 6/18
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Public debt crowds out private investment.
@CBO estimates that every $1 in additional deficit crowds out $0.33 in private investment. http://bit.ly/2zyc7xC 7/18Show this thread -
We can point fingers at each other about how we got here. But if we are trying to get out of a hole, first we need to stop digging. 8/18
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No estimate that accounts for the economic impact of higher debt has found the bill would raise the growth rate by more than a quarter of the Republicans’ declared 0.4-point growth target. http://bit.ly/2BmCoN1
#GOPTaxScam 9/18Show this thread -
37 of 38 economists agreed that the
@GOP tax bills in#Congress would cause U.S. debt to increase "substantially" faster than the economy. http://bit.ly/2AnRJke 10/18Show this thread -
The House bill would lose between $1 trillion and $1.7 trillion over a decade in revenue, AFTER accounting for growth. http://nyti.ms/2hx5O79 11/18
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What in the world has happened to the Grand Old Party and fiscal responsibility? 12/18
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This is not what you or your constituents really want. They don’t want their tax breaks to expire while corporate breaks don’t. They don’t want students to suffer from even more debt. 13/18
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We can do a REAL tax reform without jeopardizing our children’s future. 14/18
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Make the corporate rate 25% instead of 20%, like the Business Roundtable and Mitt Romney once suggested – that saves $600 billion. 15/18
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Maintain the Alternative Minimum Tax for high earning families, but index it over time so it doesn’t catch the middle class. 16/18
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Work with Democrats to find ways to limit tax expenditures, but save the burden for those who can afford it. 17/18
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If my Republican colleagues will commit to doing that, I will commit to working with you, and I will honestly and publicly thank you for putting country before politics. 18/18
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End of conversation
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