As I think about what’s going on here today, I think this is in many ways a historic day, a day that historians will look back on: December 1, 2017.
And they will conclude that today is the day of one of the great robberies, criminal activities if you like, in the modern history of this country, because the federal treasury is being looted tonight.
As we speak, there are lobbyists all over Capitol Hill writing down in handwriting, amendments to this bill to give hundreds of millions, if not billions in tax breaks, billions of dollars in tax breaks to large corporations.
As we speak, they’re probably still writing those amendments.
Meanwhile, the Rrepublican-led Senate has been unable to reauthorize the CHIP program, the health insurance program for low-income children. Didn’t have enough time to do that. We have been unable to reauthorize the community health center program, providing 27 million people with health insurance. We don’t have the time to do that.
But tonight, we are presumably going to pass legislation, when at a time of massive income and wealth inequality, 62% of the tax benefits go to the top 1%.
And ten years from now, ten years from now, millions and millions of middle-class Americans will be paying more in taxes.
Mr. President, I have not the slightest doubt as I have said before, that after the Republicans pass this huge tax giveaway to the wealthy and large corporations, they will be back on the floor of the Senate. And when they come back, they’ll say, ‘oh, my goodness, the deficit is too high. We have got to cut social security, medicare, medicaid, education, and nutritional programs.’
In other words, in order to give tax breaks to billionaires and to large, profitable corporation, they’re going to cut programs for the elderly, the children, working families of this country, and the poor. This legislation will go down in history as one of the worst, most unfair pieces of legislation ever passed. But I say to my Republican colleagues, as you saw on November 7, the American people are catching on.
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