Working families in Texas should not have to subsidize the tax bill for Manhattan millionaires.
Under this bill, two-thirds of those making more than a million dollars will receive a tax cut next year.
The last thing we need to do is to line the pockets of wealthy Americans while driving up the cost of the middle class.
WASHINGTON – U.S. Senator John Cornyn (R-TX) released the following statement after the House of Representatives passed the Build Back Better Act, a liberal wish list of policies that benefit the wealthy, raise costs on the middle class, and exorbitantly increase the national debt. Below are excerpts of Sen. Cornyn’s remarks yesterday on the Senate floor, and video can be found here.
“Despite their cries of taxing the rich, Democrats are plotting an absolutely massive handout to the wealthiest Americans.”
“The rich in America who stand to gain the most from this change are those who live in blue states like New York and California that have higher state and local taxes. They would, under this legislation, get to deduct up to $80,000 in their state and local taxes from next year’s federal tax return, leaving everybody else to fill up the gap.”
“Working families in Texas should not have to subsidize the tax bill for Manhattan millionaires. If the wealthiest people in New York or California think their state and local taxes are too high, there’s a pretty simple solution: tell your elected officials to cut taxes, or you can do like many people are doing these days: vote with your feet, and move to places like Texas.”
“This is a reckless tax-and-spending spree that will benefit the wealthiest of Americans at the cost of working families. The last thing we need to do is to line the pockets of wealthy Americans while driving up the cost of the middle class.”