Posted By Ian Schwartz
House Minority Leader Nancy Pelosi opened her press conference Thursday saying we’re all waiting for the next version of the Republican tax reform proposal that “will rip off the middle class.” She called it a “tax scam” that isn’t written for the middle class but instead for wealthy donors.
Pelosi also took a shot at President Trump for comments he made overseas about the U.S. trade deficit with China.
“In the meantime, it was curious to see President Trump in China. Candidate Trump said that what’s happening in China trade was the greatest theft in the history of the world,” Pelosi said. “And yesterday, he said our trade deficit with China, which as huge, is not China’s fault.”
“You can almost hear the leadership of the Chinese government laughing, from China to America. Maybe you can feel it coming through the ground, because, if you dig a hole here, you will reach China. But the reverberation is so appalling,” Pelosi said.
Pelosi also said Republicans should be “very, very worried” about their political future.
HOUSE MINORITY LEADER NANCY PELOSI: OK. Good afternoon, everyone. They’re all awaiting the next version of how Republicans in the House of Representatives will rip off the middle class in our country. In the meantime, it was curious to see President Trump in China. Candidate Trump said that what’s happening in China trade was the greatest theft in the history of the world. And yesterday, he said our trade deficit with China, which as huge, is not China’s fault.
You can almost hear the leadership of the Chinese government laughing, from China to America. Maybe you can feel it coming through the ground, because, if you dig a hole here, you will reach China. But the reverberation is so appalling…
And, as I said yesterday — was that yesterday — while the president is there with his entourage of CEOs, cutting deals, the Republicans in Congress are here giving those same corporations, those same CEOs, CEO-led (sic) companies, a tax break to shift jobs overseas.
And that’s why it’s no wonder that Gary Cohn — and I’ll read it — Gary Cohn today said, “the most exciting group — excited group out there being big CEOs, about our tax plan.” Gary Cohn: The most excited group out there are big CEOs, about our tax plan.
Representative Chris Collins, this week, said, “My donors are basically saying, ‘Get it done, or don’t ever call me again.'”
Senator Lindsey Graham said the financial contributions will stop if the tax scam fails. I said “the tax scam”? Fails.
The GOP tax scam isn’t written for the middle class. It’s written for the wealthy donors, and corporations shipping jobs overseas. And these three — these two — one adviser to the president, one House member and one Senate member spoke truth. The people who are happiest about this are the CEOs.
But the other truth is 38 million households, middle- class households, are facing a Republican tax hike — 38 million households. So, while they say this is for the middle class, it is not.
And now we understand that the Senate version of the tax plan is reported to have eliminated — in other words, they are keeping the full SALT deduction elimination in the plan.
So, whatever — the Republicans in the House thought they would throw out a few crumbs to some of their members to get them to walk the plank, that is not what is in the Senate bill.
So it’s a — it’s really a stunning thing. It is — if they think that this is the bill that they must pass in order to stay in power, they have it all wrong. The public is hearing the truth. The public is paying attention. You saw what happened in Virginia.
They should be worried — very, very worried. And now we’re very worried about what they might have in their alternative. We’re very proud of the leadership of our Ways and Means Dems, led by Richie Neal of Massachusetts. I’m pleased to yield to him.