Norma Torres

Mrs. TORRES of California

Mrs. TORRES of California. Mr. Speaker, I yield an additional 30 seconds to the gentleman from New Jersey.

Mrs. TORRES of California. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, the fact is that Republicans are funding their tax scam bill on the backs of hardworking Americans. The fact is that there is a race to the bottom under their cheating, gerrymandering ways. So, now, the Democrats are in charge in the House. We will continue to work to uphold and bring up our hardworking families. In Arizona's Eighth Congressional District, there are 9,330 teachers claiming this tax expense deduction. They should know the Democrats stand with them to ensure that they are able to pay their bills, because no one should have to live in poverty because they are standing up for a future generation. Mr. Speaker, I yield 1\1/2\ minutes to the gentleman from Maryland (Mr. Brown).

Mrs. TORRES of California. Mr. Speaker, I yield 1 minute to the gentleman from California (Mr. Levin).

Mrs. TORRES of California. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I want to correct, for the record, about the 2017 Republican tax scam. We have heard today, during this debate, that these tax cuts boosted our economy, and that simply isn't the case. I include in the Record an article from Forbes titled: ``The 2017 Tax Cuts Didn't Work, the Data Prove It.'' [From Forbes, May 30, 2019] The 2017 Tax Cuts Didn't Work, The Data Prove It (By Christian Weller) The independent, non-partisan Congressional Research Service just released a report showing that the 2017 tax cuts for the richest Americans and corporations did not work. This confirms what anybody who has been looking at the data already knew. Investment did not boom and workers will not see the promised bump in pay. Instead, the federal government incurred massive deficits while wealth inequality increased to its highest level in three decades. Republicans in Congress and President Trump touted the benefits of Tax Cuts and Jobs Act of 2017 as game changing. Showering the richest Americans and corporations even more money was supposed to lead to more business investments. These investments, the argument went, would translate into more productivity growth. Workers would then supposedly see an additional $4,000 per year in wages. And faster economic growth and higher wages would result in more tax revenue, thus paying mainly for itself. These were empty promises. Businesses did not use the windfall of new cash to invest in new machines, technology, office parks and manufacturing plants. Without an acceleration in business investment, though, American workers will not see the bumps in pay promised over the longer term. The richest Americans instead got even richer while corporations used a lot of the new money to keep shareholders happy. Federal budget deficits quickly ballooned because there was no faster growth and more revenue to offset the hundreds of billions lost each year to the predictably wasteful tax cuts. The core of the argument in favor of the tax cuts was that they would result in more investment. The main measure is business investment that goes beyond replacing obsolete equipment and buildings--so-called net non-residential fixed investment. As share of gross domestic product (GDP), net investment reached a low of 2.8% in the first quarter of 2016 (see figure below). It grew afterwards until the tax cuts were passed in late 2017 and eventually levelled off rather than accelerating in mid-2018. Consequently, net investment as share of GDP stayed below its levels in 2014. The tax cuts did not accelerate investment as promised by supply-side advocates. But maybe the tax cuts boosted growth in other ways? In theory, the tax cuts could have created some additional demand that resulted in people spending more money, which would then have led businesses to also increase its spending. To capture this, an economic measure needs to strip out parts of the economy from GDP that are not affected by tax cuts. These parts include inventory investment-- material that is produced but sits on shelves--government consumption on salaries and supplies, and net exports--the difference between exports and imports. The resulting key measure are so-called private domestic final purchases (PDFP). The tax cuts did not lead to faster private activity. PDFP increased by 3.3% from December 2016 to December 2017, before Congress passed the tax cuts. Afterwards, year-over-year growth remained at or below that level, actually declining since September 2018. This deceleration is yet another clear indictment of the tax cuts' ineffectiveness. But didn't GDP growth accelerate? Not only does GDP growth capture parts of the economy that clearly were not affected by the tax cuts, the data also show no acceleration there, either. GDP growth started to get faster from low of 1.3% in June 2016 and continued to gain strength through 2018 (see Figure above). But year-over-year growth in 2018 stayed below the levels shown in early 2015. The money from the tax cuts obviously went somewhere, just not to investments or workers' wages. Corporations just decided to use their additional cash to keep their shareholders happy. Non-financial corporations used most of their after-tax profits since the tax cuts went into effect to buy back their own shares and pay out dividends. When a firm buys back its own shares, the remaining shares become more valuable and the company's stock price goes up, increasing the wealth of shareholders, mainly people who are already very wealthy. CEOs in particular gained from buybacks since their compensation typically depends on the price of a company's stock. In 2018, corporations spent about two-thirds of their after-tax profits on buying back their own shares and paying out dividends, according to Fed data. By the fourth quarter of 2018, corporations spent 107. 7% of after- tax profits on dividends and share repurchases. This was good news for the wealthiest few. The top one percent of wealthiest households owned a record high share of all wealth by the middle of 2018 (see figure below). At the same time, federal budget deficits rapidly jumped. After falling precipitously in the immediate aftermath of the Great Recession, the deficits quickly grew again in 2018 (see figure below). The increase in deficits was driven heavily by a sharp drop in corporate tax revenue--not surprisingly, given the massive corporate tax cuts in the legislation. did not accelerate, but wealth inequality grew. The American tax payers are now getting stuck with the bill, while they did not see many benefits from this trillion dollar boondoggle.

Mrs. TORRES of California. Mr. Speaker, I include in the Record another article, and this one is from CNBC, titled: ``Trump Tax Cuts Did Little to Boost Economic Growth in 2018, Study Says.'' [From CNBC, May 29, 2019] Trump Tax Cuts Did Little To Boost Economic Growth In 2018, Study Says (By Jeff Cox) An in-depth look by the nonpartisan Congressional Research Service indicated that not only did the rollbacks in business and personal rates have little macro impact, but they also delivered the most benefits to corporations and the rich, with little boost to wages. In all, GDP rose 2.9% for the full calendar year, the best performance since the financial crisis. But that came in an economy already poised to move higher, economists Jane Gravelle and Donald Marples wrote. ``On the whole, the growth effects [from the cuts] tend to show a relatively small (if any) first-year effect on the economy,'' the report said. ``Although examining the growth rates cannot indicate the effects of the tax cut on GDP, it does tend to rule out very large effects in the near term.'' Trump had touted the cuts as a key step toward generating GDP growth of at least 3%. The legislation, passed in late 2017, slashed corporate tax rates from 35% to 21%, reduced the number of brackets, lowered rates for many individual payers, and doubled the standard deduction in an effort to make most income tax-exempt for the lowest earners. Employment continued to boom in 2018 and average hourly earnings have in recent months passed 3% on a year-over-year basis for the first time since the recovery began in 2009. However, the economists said wage gains could not be tracked to the tax cuts. ``This growth is smaller than overall growth in labor compensation and indicates that ordinary workers had very little growth in wage rates,'' the economists wrote. The study indicated that the tax changes contributed only marginally to the overall economic economic gains--maybe 0.3% of a ``feedback effect.'' The economists say that for the tax cuts to pay for themselves, as Trump has promised, GDP would have to rise by 6.7%. ``The initial effect of a demand side is likely to be reflected in increased consumption and the data indicate little growth in consumption in 2018,'' the report said. ``Much of the tax cut was directed at businesses and higher- income individuals who are less likely to spend. Fiscal stimulus is limited in an economy that is at or near full employment.'' At the same time, tax receipts from 2018 indicate that corporations got an even bigger break than expected. While the Congressional Budget Office had forecast a $94 billion break that still would have generated $243 billion in corporate revenues, the actual total was $205 billion, or 16% lower than projected. The effective tax for corporations, or the level they pay after taxes, was 17.2% in the year before the tax breaks took hold and plunged to 8.8% for 2018. Individuals, meanwhile, saw a drop from 9.6% as a percentage of personal income in 2017 to 9.2% last year. Bonuses from those companies also didn't amount to much when averaged across all workers, with the $4.4 billion paid coming to just $28 per employee in the U.S. Companies also received incentives to repatriate profits held overseas, and they did so to the tune of $664 billion. While companies bought back about $1 trillion of their own shares, ``the evidence does not suggest a surge in investment from abroad in 2018,'' the report said. The White House did not immediately respond to a request for comment.

Mrs. TORRES of California. Mr. Speaker, I yield 1 minute to the gentleman from New York (Mr. Suozzi).

Mrs. TORRES of California. Mr. Speaker, I yield the gentleman from New York an additional 30 seconds.

Mrs. TORRES of California. Mr. Speaker, I yield 1 additional minute to the gentleman from New York (Mr. Suozzi).

Mrs. TORRES of California. Mr. Speaker, I am prepared to close also.

Mrs. TORRES of California. Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, I want to start by clarifying a misconception that all of these taxes are forced upon taxpayers. This last election cycle local voters voted to tax themselves to pay for affordable housing for our growing homeless population, to pay for improved roads, and to pay for better water quality. So they should not be punished for filling the gap where the Federal Government has failed to do so. This bill is paid for by raising taxes for households making over $400,000, back to the levels before Republicans passed their tax scam bill. California pays $13 billion more in Federal taxes than it received from the Federal Government according to a 2016 IRS report. Tennessee is the third most dependent State on Federal resources. So to argue here that we should punish the people for wanting to help provide for your constituents because you failed to do that is outrageous. Oklahoma received $7.5 billion in Federal funding in 2016. This bill is not about subsidizing those who already have too much. This bill is about stopping the double taxation on the same dollar. Mr. Speaker, we are here to try to give the middle-class families a break and undo the damage caused by the Republican tax scam. As we look forward to the new year, I want to take a minute to reflect on the work Democrats in Congress have done during this 116th Congress. Whereas, the Republican tax law provided seven drug companies $34 billion in tax cuts in 1 year alone, last week, Democrats passed H.R. 3 to help seniors and American families afford their prescription drugs. Whereas, last January the President caused the longest government shutdown in history by pushing to irresponsibly use taxpayer dollars for an unnecessary border wall, Democrats have fought for comprehensive funding bills that invest in our infrastructure, healthcare, national security, and to increase the Federal minimum wage. Whereas, the Republican tax scam led to America's 400 wealthiest people paying a much lower tax rate than the working class, Democrats are here today because we believe in the middle class. Repealing the cap on the State and local tax deductions will benefit taxpayers across our Nation. I have heard my colleagues claim that this bill is for the wealthy. Mr. Speaker, do my colleagues remember voting on the largest tax giveaway to the rich and corporations in American history? Obviously, they don't. But I am here to remind them that the biggest beneficiaries of the tax law that they passed were billionaires. The Joint Committee on Taxation estimated that wealthy taxpayers making $1 million or higher received a tax cut of $37 billion in 2019. Mr. Speaker, while the Republican tax scam was a bill for the megarich, H.R. 5377 is legislation for constituents like mine, working- class Americans. The cap on SALT deductions is bad for my constituents. The average Californian pays over $18,000 in State and local taxes, which is almost double over the SALT cap, again, to help improve the quality of life of the fifth largest economy in the world, which no other State can claim. As a result, 1 million Californians will pay $12 billion more in taxes into the SALT cap. In 2016 my constituents deducted almost $700 million in State and local taxes from their Federal taxes. It is time to give them a break and give them back the deductions that they once had. No one should have to pay taxes twice on the same dollar. Mr. Speaker, I urge all my colleagues to vote for the rule and passage of H.R. 5377, Restoring Tax Fairness for States and Localities Act. Mr. Speaker, I urge a ``yes'' vote on the rule and a ``yes'' vote on the previous question.

Mrs. TORRES of California. Mr. Speaker, I yield back the balance of my time, and I move the previous question on the resolution.

Mrs. TORRES of California

Mrs. TORRES of California. Madam Speaker, the facts are clear. To quote the USA Today editorial board: ``Trump used your tax dollars to shake down a vulnerable foreign government to interfere in a U.S. election for his personal benefit.'' The rule of law is what gives our great country its strength. The rule of law is what separates us from Third World countries, where dictators reign for decades on end. The rule of law is what makes us the envy of the world, the place that other countries look to as they grow their own democracies. It is the rule of law that brings us here today. We never want to see the rule of law deteriorate or rampant corruption take hold. We never want to see the day when future generations flee for refuge in another country, the way that others are seeking refuge on our southern border right now. Madam Speaker, I urge my colleagues to vote ``yes.'' American values and our Constitution are worth fighting for.

Mrs. TORRES of California

Mrs. TORRES of California. Mr. Chair, I have an amendment at the desk.

Mrs. TORRES of California. Mr. Chairman, I yield myself such time as I may consume. My amendment would add language directing the U.S. Export Finance Agency to emphasize outreach to Tribal businesses, including Alaskan Native corporations, that export goods and services. There is a long history of successful Federal economic development programs leaving--leaving--Indian Country behind. Ensuring that Tribal businesses are aware of the services and resources that the agency provides is absolutely critical. Companies that increase their exports are able to raise wages, take on additional employees, and further invest in their communities. Increased economic development in Indian Country means increased economic opportunity, which, in turn, means more self-determination for Tribes and a greater ability to take care of their people as sovereign nations. The U.S. Export Finance Agency has proven to be an important tool in expanding U.S. exports and creating American jobs, but we need to ensure that it is a tool that benefits all Americans, including Native Americans. And that is exactly what this amendment does. Mr. Chair, I urge all of my colleagues to support this amendment, and I reserve the balance of my time.

Mrs. TORRES of California. Mr. Chairman, I thank the ranking member for his support. There has been a lot of talk around China and zero talk around Indian Country. All this amendment does is require the agency to conduct outreach-- outreach--to Indian Country to ensure that Tribal export businesses benefit from the same services and resources we offer every other American business. Mr. Chair, I urge all of my colleagues to support this amendment, and I yield back the balance of my time.

Mrs. TORRES of California. Mr. Chair, I have an amendment at the desk.

Mrs. TORRES of California. Mr. Chair, I yield myself such time as I may consume. As the new Export Finance Agency works to help American businesses export their products and services, it is critical that we ensure that we are not enriching or empowering the bad actors, especially those involved in drug trafficking, corruption, or human rights violations. We don't want to help those whose actions are contrary to our American values, and we certainly don't want to help those who act against our best interests. That is why H.R. 4863 prohibits the Export Finance Agency from doing business with individuals who are subject to U.S. sanctions. I have offered an amendment to further clarify that this prohibition also extends to individuals who are subject to sanctions related to human rights and violations of free speech. This is especially important given the growing challenges to free speech across the world, including in Hong Kong and in Xinjiang. Government officials or other entities who are involved in the suppression of free speech should not benefit from the agency's investment, and all of us should agree to that. Mr. Chair, I reserve the balance of my time.

Mrs. TORRES of California. I take issue with the ranking member questioning my hard work. I have spent every year since I came to Congress in 2015 working to address the issues of public corruption in Central America and throughout Latin America. So for this to come up now is, frankly, very disappointing. My amendment, yes, does build on important provisions that are already in the bill, which prohibit extending credit to individuals who are subject to U.S. sanctions. These provisions will protect the new agency, uphold American values, and protect our national security. I urge my colleagues to find a way to see through this fog and understand that this is the right way to go about it. I hope they will support the bill and support my amendment. Mr. Chairman, I yield back the balance of my time.

Mrs. TORRES of California

Mrs. TORRES of California. Madam Speaker, I rise today to honor the life of World War II veteran Willie J. Adams and his tireless dedication to community and country. Willie served in the United States Marine Corps during World War II. An original Montford Point Marine, Willie was one of 20,000 African American men who helped defeat Hitler and desegregate the Marines. He was honorably discharged in 1946 but he lived by the motto, ``Once a Marine, always a Marine,'' and was a committed lifetime member of the Veterans of Foreign Wars (VFW) Post 8852. Willie was a model of honor and duty to his community when he returned home. As a Rapides Parish school bus driver, he mentored countless students and was a father figure to many. Willie was a dedicated Christian who served both in Church and at large in the community. He often participated in senior citizen events throughout the area, and in his free time, could be found outdoors fishing or hunting. The anchor of his family, he was married for over 60 years to his wife Josephine Adams, with whom he raised two daughters. While spending his last days at the Veterans Affairs Medical Center, Willie made sure that every member of the VFW was able to visit and play games. In recognition of his accomplishments and character, Willie was posthumously awarded the Congressional Gold Medal on November 9, 2019. For his exemplary life of service, Madam Speaker, it is my honor to recognize Willie J. Adams. His decades of commitment and contributions to his community and country are worthy of admiration, and his memory will live on through the countless lives he impacted. May he rest in peace

Mrs. TORRES of California

Mrs. TORRES of California. Madam Speaker, I rise in strong support of H. Res. 660. Madam Speaker, impeachment is not something that we take lightly, but when the President endangers our national security, he gives us no other choice. We now know from Trump's own call record that he pressured a foreign government to interfere in our elections and investigate his political opponent. We now know that Trump potentially sought to apply leverage on Ukraine, first with a coveted White House meeting and, second, by withholding security assistance to fend off Russian aggression. Today's resolution allows us to present these facts in a clear, professional, and fair way. Madam Speaker, I urge passage of H. Res. 660 so the American people can, too, learn the truth.

Mrs. TORRES of California

Mrs. TORRES of California. Madam Speaker, I rise today to honor the life of Trisha Martinez of the City of Montclair, and her tireless dedication to serving the Inland Empire community. A resident of Montclair since 1992, Trisha was elected to the Montclair City Council in 2014 and re-elected in 2018. Throughout her tenure, Trisha was a fierce advocate for the City she dearly loved. As a Council member, she fought for Montclair's award-winning Montclair to College Program which provides free tuition and books to graduating Montclair High School students who attend Chaffey College for up to two years. Trisha also remained committed to Montclair's seniors, working to ensure the elderly community continues to receive free or reduced-cost services, including micro-transit and discounted refuse services. Trisha also continued to volunteer with the Senior Nutrition Program at the Montclair Senior Center for over 10 years. In April 2019, Trisha was diagnosed with cervical cancer. Despite spending most of these past months in hospitals, Trisha still dedicated herself to attending City Council meetings and other local and regional board meetings. This rare kind of commitment and devotion to the people of Montclair is worthy of admiration. For her exemplary life of service, Madam Speaker, it is my honor to recognize Montclair City Council Member Trisha Martinez on the House floor. Her decades of commitment and contributions to the city she loved are exemplary, and her memory will live on through the countless lives she impacted. May she rest in peace.

Mrs. TORRES of California

Mrs. TORRES of California. Mr. Speaker, I thank the gentleman from California (Mr. Rouda), my colleague, for yielding to me. Mr. Speaker, I rise in support of my bill, H.R. 3329. This bill would rename the post office in Montclair, California, as the Paul Eaton Post Office Building. The new name would be a tribute to Paul Eaton, who served as Montclair's mayor for 23 years, making him the longest-serving mayor in Montclair's history. As a former mayor myself, I can tell you that that is dedication. Being mayor means being on the hook for every pothole, every accident, and every crisis that happens in your city. It is not easy work, but Mayor Eaton made it look so easy. He uplifted the lives of every single person that he encountered. He was a fierce advocate for Montclair residents and a pillar of the Inland Empire community. His decades of public service earned him the love, respect, and admiration of everyone. Mayor Eaton began his career at Bethany Baptist Church and the Ontario-Montclair School District. In 1970, he helped found Montclair's Community Action Committee. There, he earned a reputation as a fierce advocate for Montclair's residents. Later, he was appointed to the Montclair Planning Commission, where he would serve only until he eventually became a member of the Montclair City Council in 1988. Following Mayor Larry Rhinehart's sudden departure, Mayor Eaton was unanimously installed into the position of mayor by his fellow city council members. His many achievements include construction of a youth center and a senior center, as well as a state-of-the-art police facility, widening Central Avenue on the I-10 freeway, making critical improvements to the Mission Boulevard and Holt corridors, and ensuring future service to the Montclair Transit Center for the Gold Line light-rail service. His record of service is truly an example for the next generation. His family continues to carry on the legacy, as many of them also work in public service. Mayor Eaton passed away in July 2018. He was survived by his wife, Ginger, who became mayor after the passing of Mayor Eaton. He was also survived by four children, nine grandchildren, and 14 great-grandchildren. He was loved by everyone. Let us honor Mayor Eaton and his legacy by passing this bill and renaming the Montclair Post Office. California, Mr. Speaker, has 53 Members of Congress, and I am so proud to have 52 of those members of the California congressional delegation as cosponsors of this bill, including the distinguished Speaker of the House, Nancy Pelosi, and the Republican minority leader, Kevin McCarthy. Mr. Speaker, I urge all of my colleagues to support this important bill, and I thank the ranking member, Mr. Gosar, for his assistance in moving this bill forward.

Mrs. TORRES of California

Mrs. TORRES of California. Mr. Speaker, I thank Congressman Newhouse for organizing this Special Order and for his leadership. I sincerely hope that this will serve as a call to action for all of us. Like the gentleman, I was very disappointed that we could not get Savanna's Act across the 115th Congress and signed into law. Mr. Speaker, every single person in this country, no matter their gender or background, deserves to live in safety, and every single victim deserves justice. But for Native Americans, and especially Native American women, that has not been the case. Far from it. There is a long history of violence against Native Americans and exploitation of Native American women. It is a history that we don't talk about nearly enough. That is why, last week, I introduced a bipartisan resolution to support the creation of a new Federal holiday, Indigenous Peoples' Day, on the day that is now called Columbus Day. Across the Americas, too many indigenous people are still living with the legacy of colonialism and the violence that came with it. Taking one day a year to acknowledge that history and to acknowledge the many contributions of Native Americans to this great country, is the least that we can do, but it isn't enough. As William Faulkner famously said: ``The past is never dead. It's not even past.'' And the reality is that today, Native American women are being killed and going missing at an alarming rate. Native American women are 10 times more likely to be killed than the national average, and that is shameful. What is worse is that we do not even know how many Native American women have gone missing. Criminals prey on Native American women because they know that they can get away with this crime. So Congress must take action to address this crisis and that is why we are here today. In April, the House passed the Violence Against Women Act, which would give Native American Tribes jurisdiction over crimes of violence against women. This is a significant step to solving the problem, but the Senate must act now to pass this critical legislation. In May, I introduced Savanna's Act to honor Savanna LaFontaine- Greywind, a 22-year old pregnant member of the Spirit Lake Tribe who was tragically murdered in 2017. I have worked with a group of Democrats and Republicans from both Chambers of Congress to make sure that we incorporate input from a wide range of stakeholders, including law enforcement. This bipartisan bill would create a new set of guidelines for law enforcement responding to cases of missing and murdered indigenous women, and it would give incentives for law enforcement to implement those guidelines. It would also improve information-sharing and access to data so that we have a clearer picture of the scale of these horrific crimes. This important legislation builds on a previous version of Savanna's Act, which already passed the Senate last year. It is awaiting action in the House Judiciary Committee, and I am confident that it will move forward soon. Because of the efforts of Native American women across the country, we are close to passing Savanna's Act into law, but we cannot afford to continue waiting. More importantly, Native American women cannot afford it.

Mrs. TORRES of California

Mrs. TORRES of California. Madam Speaker, I was unavoidably detained and missed Rollcall No. 544. Had I been present, I would have voted ``yea'' on Rollcall No. 544.

Mrs. TORRES of California

Mrs. TORRES of California. Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 558 and ask for its immediate consideration.