Leader Schumer Floor Remarks On The Republican Tax Bill Hurting The Most Vulnerable Americans To Further Enrich The Ultra-Wealthy

Washington, D.C. – Senate Democratic Leader Chuck Schumer (D-NY) today spoke on the Senate floor against the Republicans’ tax bill after the release of a report by the Congressional Budget Office, which showed this bill would diminish resources from the most vulnerable Americans while increasing resources for the ultra-rich. Below are Senator Schumer’s remarks, which can also be viewed here:

It’s no secret how awful the Republican tax bill is – for weeks, we’ve said their bill shows that billionaires win, American families lose.

Last night, the nonpartisan CBO proved that to be quite accurate.

The CBO's nonpartisan analysis shows that this bill would decrease household resources by 4% for the bottom 10%, while increasing household resources by 2% for the top 10% of the country.

To be clear: this bill would hurt the most vulnerable Americans, and the most benefits will only reach the top wealthiest Americans. Trickledown economics if there ever was one.

This bill hurts Americans families. They're the losers of this bill.

American families will lose healthcare.

They'll lose food benefits.

They'll lose jobs.

They'll lose money.

The bottom line: American families lose. Billionaires win.

###