TITUS STATEMENT ON GOP TAX SCAM VOTE IN HOUSE

Dec 19, 2017
Press Release

December 19. 2017

Washington, D.C. – Today Rep. Dina Titus of Nevada’s First Congressional District released the following statement after House Republicans passed H.R. 1, the GOP’s ‘Job Cuts and Tax Scam’ legislation.

“With this ‘Job Cuts and Tax Scam’ bill, the GOP, to paraphrase Clint Eastwood, is pissing on our boots and calling it rain. Republicans have crafted a bill that will cost $2.2 trillion, increase the deficit by at least $1 trillion, and target the social safety net that serves at-risk communities like District 1. Thirteen million Americans will lose health care coverage, $25 billion in Medicare cuts begin next month, Medicaid slashes are in the crosshairs, and student loan fees will double. State and local programs will likely be on the chopping block because of the reduction in revenues.

“Eighty-six million Americans will ultimately see a tax increase while 83 percent of the benefits go to the top one percent of earners. The new corporate rates are set in stone while the so-called benefits for working families -- new income tax rates, standard deduction hike, doubling the child tax credit, and others – all sunset in a few short years. 

“So where is the long-term relief for the hospitality workers, firefighters, cab drivers, teachers, and thousands of others in Las Vegas who will soon be paying more in taxes? It is going to President Trump, who said he would not benefit, his rich cronies, GOP donors, and other Republicans in Congress.

“With the Estate Tax break doubling, money will disappear from the general fund so Ivanka, Don. Jr., and Eric can get more. The Corker Kickback will enrich the eponymous Senator’s commercial real estate holdings along with the President’s and at least a dozen other members of Congress. Sen. Johnson, along with President Trump, will also see a bigger tax break for their non-real-estate pass-through entities.

“Many are asking about all the money that will supposedly fly back into the nation because of the changes in the corporate tax code. Don’t believe the hype, and don’t hold your breath. The bill encourages companies to keep money overseas by exempting ‘routine’ revenues, incentivizing companies with more factories and equipment overseas to keep their businesses out of the U.S. In addition, the bill’s ‘minimum levy’ emboldens companies that currently have money stashed in other nations to shift money to other tax havens, not back to the US.  

 “That’s a win-win-win for wealthy Republicans, but a gut punch to the people in my district. This bill is the product of a process that has had no hearings, no testimony, and no public input from the nation. It is a Reverse Robin Hood, a Trojan horse, or, put simply, a slap in the face of the American people.” 

 

BACKGROUND

• Congresswoman Titus has written letters demanding that Republicans do not eliminate tax-exempt Private Activity Bonds that help communities build affordable housing and other major infrastructure like the new Raiders’ stadium. She also opposes any effort to eliminate advanced refunding, a tool local governments use to help pay back the principal on issued bonds.

• Congresswoman Titus has filed amendments to keep deductions for medical expenses, State and Local Taxes (SALT), and for teachers who buy school supplies for their classrooms. 

• She has worked with her colleagues to protect deductions for grad students and raise awareness about the automatic spending cuts the tax bill may trigger under the 2010 PAYGO law. 

• She held a press conference in November to highlight the disastrous effects the tax scam will have on CD1.

• She urged Conference Committee members to eliminate the handle tax on sports wagering.