Rep. Davis Statement Opposing Tax Cuts Scam 2.0

I vehemently oppose this bill that asks hard-working Americans to pay for wanton tax cuts for the absolute wealthiest in our nation.

With baby boomers retiring and needing security, the first Republican tax cuts seriously damaged the health of the Medicare Trust Fund. This bill is more of the same - exploding the deficit and threatening Social Security, Medicaid, and Medicare.

After decades of wage stagnation,

· when over 41 million laborers earn less than $12 an hour,

· when almost none of their employers offer health insurance,

· when more than one-quarter of Americans struggle to cover housing costs –

the Republican bill preferences millionaires giving an average tax cut of over $39,000 to the top 1 percent.

The Republican plan will permanently double tax over 40 million families due to the cap on the State and Local Income Tax Deduction, while corporations that donate to political coffers get the full benefit.

The Republican tax plan permanently takes away critical personal exemptions from millions of families with children and devalues housing costs by capping the mortgage interest deduction.

People in Chicago expect government to help real people.

They do not want trillions of dollars in unpaid-for, permanent windfalls for the elite.

I oppose this dangerous bill that threatens the economic security of our country and citizenry.