Republican Tax Bill

Floor Speech

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Mr. MERKLEY. Mr. President, we heard a whole lot about the tax bill the Republicans passed, and it basically works like this: We borrow $1.5 trillion from our children and we give that money to the richest Americans. And then when there is a little bit of help for middle-class workers--and I mean a little--we say: Well, that is really cool.

I like that we are doing a little for the middle class, but I don't like the fact that for every dime to help a middle-class worker, we gave away a dollar to the richest Americans. In other words, America has been robbed in the biggest bank heist ever, and then it was justified by distributing a modest amount to our workers. Even then, they included a provision that will drive up the premiums for healthcare by more than 10 percent next year, on top of whatever rises are driven by the drug companies. So whatever modest gain there is for the middle class is wiped out by more expensive healthcare in America.

So we hear these big, sophisticated arguments: Oh, well, a worker here or there got a bonus. A worker here or there got their wages increased. But they don't tell you that they gave $1 trillion to the richest Americans. Why not? Why not be honest about the whole entire scope of this tax rip-off, borrowing from our children to enrich the richest Americans?

As one House Member said, here is what this is all about: This is about the fact that my rich donors won't vote for me and won't support me in the next election unless I vote to give them all this money.

That is what happened here, and it is not OK because we see the consequences. We have a budget that attacks the foundations for families to thrive. It takes a trillion dollars out of healthcare. Well, that trillion dollars went to the richest Americans. Then the President gets to the budget and takes a trillion dollars out of healthcare, takes money out of affordable housing. Housing is a very important foundation for families to thrive. So it attacks healthcare and housing, and then it attacks public education.

Quite frankly, because all those resources were taken off the table that could have been invested in infrastructure and jobs in America, it also undermines the concept of a living-wage job, which is the principle that nobody who works full time in America should live in poverty in America.

The majority has conducted the biggest bank heist in history, and they come to the floor and defend this time and time again without sharing the honest facts with the American people, as I have just shared them with you.

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