The tax bill just passed by Congress has little in common with the rosy descriptions Republican leaders have made about it. Putting more money into the pockets of working people would be great, but that’s not what they wrote this bill to do.
I have grown a business, made payroll every two weeks for more than 40 years, and invested many millions of dollars in new plant and equipment. I still voted no, because I am just wise enough to realize that without our people, our employees, we have nothing.
I would be enthusiastic about a tax bill that actually put more money into their pockets, instead of mine. We have 381 hard-working women and men on our payroll this morning. Not a single one will benefit from the doubling of the estate tax exclusion. But every one will be affected by medical insurance premium rates which this bill will drive up.
Everyone will be at risk when their so-called minimal tax cuts expire in just a few years — mine, by the way, are permanent. And our children and grandchildren will suffer ever more greatly as we continue to balloon the federal debt.
This tax bill may be the greatest transfer of wealth from working Americans to the idle rich in U.S. history. This is a very sad moment for the country I love.
Rep. Donald Beyer can be reached through his website at www.beyer.house.gov, on Twitter @RepDonBeyer or his office at (202) 225-4376.