On CNN’s State of the Union, Leader Pelosi Blasts Republicans’ Ryan-McConnell Tax Plan for Billionaires
This morning, House Democratic Leader Nancy Pelosi joined Jake Tapper on CNN’s State of the Union to discuss Republicans’ Ryan-McConnell Tax Plan for Billionaires which will raise taxes on millions of middle class Americans in order to give tax cuts for America’s wealthiest and corporations. Specifically, she highlighted Republicans’ shameful proposals to dismantle the medical expense, student loan interest and state and local tax deductions, ransack funding for Medicare and Medicaid and explode the deficit.
Leader Pelosi also discussed the dire need for an outside, independent commission to investigate Russia’s interference in our election and ensure that it never happens again.
Below are the highlights.
On the Ryan-McConnell Tax Plan for Billionaires:
“What we have said is, ‘if you’re going to do a whole revision of the tax code, it should be done in a bipartisan way.’ That’s the only way it will be fair, simplified and sustainable.”
“The macro is that this thing will explode the deficit, the national debt and one of the reasons is they’re giving $1.5 trillion cut to corporate America. And in their budget, they call for a $1.5 trillion cut to — Medicare, half a trillion, Medicaid, $1 trillion. I mean that’s not really a statement of values.”
“They’re saying to corporate America, ‘if you want to create jobs overseas, you have a tax advantage over creating jobs in the U.S.’ I don’t think the President ever said in his campaign that he was going to make it easier from a tax standpoint for corporations to make jobs grow overseas.“
“They have this deduction for state [and] local taxes, SALT. Well, they rub salt in the wound on it, by saying to an individual, ‘you can’t deduct it, but corporations can.’”
“This is really a gift to corporate America. And then saying, ‘these people will pass it on to their workers.’ They never have.“
“It’s a slight of hand. It’s a shell game. It’s a Ponzi scheme. They make it look as if they’re giving something. … They spread out this banquet for the wealthiest Americans, for corporate America, and they throw a few crumbs to the middle class. ”
“The list is a long one of all of the things they pull away from the middle class. So really, the net gain is not there. But the huge gain is there for the super-rich and corporate America.”
“This is a moment of truth for America. Are we going to go deeply into debt, deeply into debt to give tax cuts the high end at the expense of working families in America, as we give advantages overseas, while pulling away school supplies from children?”
“While they take us deeply into debt to the tune of almost $3 trillion added to the deficit, [it’s] very hard to come back from that. The next ten years, and we have to always account for 20 years, the next ten years is a hemorrhaging of the national debt. And these so-called budget hawks have turned into an extinct, endangered species.”
On the Need for an Outside, Independent Commission to Investigate Russia’s Interference in our Elections:
“The fact is that we have to follow the facts. I think that [Robert] Mueller is doing a very good job at what he does and that’s inside the Justice Department. I think that our Intelligence Committees are doing a good job, the Judiciary Committee, as well, at what they do inside the Congress.”
“I still think we should have an outside commission that is not to conflict with what either of them are doing, but to give us a real picture of what happens so that it doesn’t happen again. This is about our electoral system, an assault that was made on it, and we have to know the facts as we go forward.“
“You would think the President of the United States, who takes the oath to defend the Constitution, would be the first one to say, whatever it was, we have to protect our electoral system, but he hasn’t done that.”