John Yarmuth

Mr. YARMUTH

Mr. YARMUTH. Madam Speaker, I rise to commemorate 20 years of Fairness in my hometown of Louisville, Kentucky. It's upsetting to think, but in much of the country, it's legal to kick someone out of their home or fire them for no reason but how they love. For being LGBTQ, for being gay. But not in Louisville. Because on January 26, 1999, our community took a bold and historic step for LGBTQ rights, passing the Fairness Ordinance and ensuring that no individual could be robbed of their home or job simply for being who they are. Louisville was the first in our Commonwealth and among the first in the South to protect LGBTQ people from discrimination, and it was due to a decade of committed work by the Fairness Campaign's passionate staff and volunteers, who refused to accept anything but real, true equality. In two decades since, Fairness has helped 10 Kentucky cities outlaw LGBTQ discrimination--from our capital Frankfort to the tiny Appalachian coal town of Vicco and beyond. The rest of Kentucky and our country should follow Louisville's lead and ban LGBTQ discrimination everywhere. I look forward to continuing Louisville's legacy by casting my vote for the Federal Equality Act in this Congress and I urge every Member to join me.

Mr. YARMUTH

Mr. YARMUTH. Madam Speaker, pursuant to section 103(c) of the H. Res. 6, adopted rules of the House of Representatives for the One-Hundred Sixteenth Congress, I hereby submit for printing in the Congressional Record the lists of discretionary accounts identified for advance appropriations in Fiscal Year 2019 appropriation bills.

Mr. YARMUTH

Mr. YARMUTH. Mr. Speaker, I unfortunately was unable to be present for a vote taken on the House floor on December 20, 2018. Had I been present, I would have voted in the following manner: Rollcall Vote No. 472: nay.

Mr. YARMUTH

Mr. YARMUTH. Mr. Speaker, I thank the gentleman for yielding. Mr. Speaker, for years now, certainly over the last few months, we have been hearing concerns from our Republican colleagues about the exploding national debt. Yet, here they are today asking us to vote for another unpaid-for, multibillion-dollar, partisan tax cut. With the clock ticking on this lame-duck Congress and the Republicans' unchecked control here in Congress, they are rushing through another round of costly, reckless cuts. Now, as my colleague from Massachusetts (Mr. McGovern), the soon-to- be chairman of the Rules Committee, said, Democrats were locked out of the process for this 300-page bill. There were no hearings, no debate, no markup. It went straight to the floor with the hope that the American people aren't looking. The thing is that the American people have made it very clear, both in polling and at the polls, that they did not support the Republicans' trillion-dollar tax cuts for wealthy corporations last time, and they certainly won't support even more tax cuts this time. The distinguished chairman of the committee, a very thoughtful and sincere individual, talked about all of the successes of the prior tax cut. But remember what they promised when they rammed this thing through i 2017: that the corporate tax cut from 35 to 21 percent was going to unleash incredible investment in the country, creating thousands of jobs and new facilities and new investments in plants and equipment. What has happened? This year alone, there was $800 billion in stock buybacks--let me repeat, $800 billion in stock buybacks--increased dividends that mostly go to wealthy investors, about a third of which actually go to foreign investors. Where are all of these new investments? They weren't realized, and they weren't realized because the corporations said at the time that they don't need these crazy tax cuts. Republicans insisted on it. Part of the reason they insisted on it was because it is part of their three-step plan, which we talked about in 2017 during the debate on the tax cuts. We had charts. Here is what they are going to do: cut taxes; then complain about the additional debt; and then ask for cuts in Medicare, Medicaid, and Social Security in order to pay for those new debts. That is exactly what we have seen this year. The majority leader of the Senate from my State complained the other day: Oh, these deficits are getting really high. The debt is getting really high. We need to look at these mandatory spending programs. That is the playbook we have seen time after time after time. Let's stop pretending that my colleagues across the aisle are there for the American people. They aren't the party of fiscal responsibility or economic growth. They are the party of one thing and one thing only, and that is tax cuts for their wealthy corporate donors. This is a reflection of that truth. The American people don't want these tax cuts, and our country can't afford them. I, therefore, urge my colleagues to oppose this rule and the underlying bill.

Mr. YARMUTH

Mr. YARMUTH. Mr. Speaker, I thank the gentleman for yielding. Mr. Speaker, just 8 months ago, the Republicans jammed through their massive, unpaid-for tax cut. Not a single Democrat voted for that bill, and for good reason. Nonpartisan experts told us that the tax cut would overwhelmingly benefit the wealthy and big corporations while threatening our fiscal and economic health. It would add more than $1 trillion to the Nation's debt. And the newest reports on the impact of the tax law further confirm those dire warnings: Corporate profits have soared, along with stock buybacks, while working-class wages remain stagnant and income and wealth inequality continue to grow. Yet today, Republicans want to go even further, pushing their tax cut 2.0 legislation. It is not a surprise that they are extending the provisions of their tax bill. The expirations were always gimmicks to hide the true cost of the tax cut and evade the constraints on reconciliation bills. This new legislation, once again, benefits the wealthiest Americans and adds trillions of dollars more to the Nation's debt in decades to come, further jeopardizing the Nation's already rocky long-term fiscal outlook. This new tax cut 2.0 package, just like the one before it, is being rushed through the House with no hearings and no input from the American people. The Republican tax cut 2.0 legislation is another irresponsible tax cut for the wealthy that threatens our long-term fiscal and economic health, and we know how that story ends. As Republicans have often demonstrated, they are committed to cutting more taxes for the rich, fretting when deficits rise, and then attacking crucial programs American families rely on, such as Medicare and Social Security, to pay for the debt increase. Let's not add more to this three-step process. This is not the time to rush through another round of tax cuts. The rule before us would allow for passage of this irresponsible legislation, and I urge my colleagues to oppose the rule.

Mr. YARMUTH

Mr. YARMUTH. Mr. Speaker, I rise today to offer a real-life account of the raw deal Republicans gave the American people with their GOP tax scam. Dennis, a retired constituent of mine from Louisville, who still works part time, recently wrote a letter to the Courier-Journal newspaper. He stated: ``The so-called tax cut for the middle class is going to cost me an estimated $600 more in taxes in 2018.'' Dennis pays his taxes quarterly, which is why he did these calculations now. He added in part: ``I urge people to look into this so-called great tax break for the middle class. This might change your mind on the current Members of Congress that have been misleading you to thinking they are actually working to help you, unless you are one of the big donors!'' Dennis isn't alone. By the time this scam is fully implemented, more than 80 million middle class families will see their taxes increase. That is not progress. That is a ripoff.

Mr. YARMUTH

Mr. YARMUTH. Mr. Speaker, I thank my friend for yielding. Mr. Speaker, just months ago, we were debating the so-called Tax Cuts and Jobs Act. During that debate, I warned that it was the first of the Republicans' three-step plan to give to the wealthy and make hardworking families pay the price. Republicans were successful in enacting step one, the tax scam that gave more than 80 percent of the benefits to the top 1 percent. Just one company, Pfizer Pharmaceuticals, is now pocketing $218 million more every week under this new law. They are not alone. These tax cuts are showering big corporations and Wall Street with taxpayer money at an obscene level. That was step one. Step two, exploding our deficits, was confirmed this week by the Congressional Budget Office. They concluded that the GOP tax cuts will add nearly $2 trillion to the Federal debt over the next decade. That brings us to step three. Having provided millionaires and big corporations with huge tax cuts that do little to grow our economy, the GOP has starved our government of revenues. So, naturally, they are using the resulting deficits as an excuse for massive cuts to programs that millions of Americans rely on, including Medicare, Social Security, and Medicaid. That is what the amendment we are now considering would do. It would put in place a constitutionally mandated process solely designed to impose these extreme cuts. That is because it comes packaged with the GOP's new religious belief that tax cuts for the rich will save us all. They believe this despite the fact that history and nearly every respected economist will tell you that the only way we can responsibly balance our budget is to include new revenues. So let's call this balanced budget amendment what it is: a stunt to give Republicans political cover for their deficit-exploding tax scam. The party of so-called fiscal hawks has become the party of fiscal hypocrites. They know it, and so do the American people. While this bill may be a political gimmick, it is a dangerous one that will have dire consequences for our economy and American families. To begin with, when in effect, it would require that the entire Federal budget this year be cut by at least 20 percent. That would be not just unprecedented, it would be devastating. Medicare, Medicaid, Social Security, veterans' healthcare, infrastructure, job training, nutrition assistance, and programs that help make housing affordable and higher education attainable would all be jeopardized. But that is not all. This amendment would put an intolerable financial strain on every State in this country, forcing them to do more with less. My State of Kentucky relies on Federal funds to cover 37 percent of the Commonwealth's budget, including 16 percent of education funding and 32 percent of transportation funding. Speaker Ryan's home State of Wisconsin relies on Federal funds to cover 24 percent of its budget. Chairman Goodlatte's home State of Virginia relies on Federal funds to cover 20 percent. All of that is at risk under this amendment. It would not stop there. This amendment would not only threaten our ability to respond to economic crises, it would likely make them much worse. During economic downturns, Congress can help stimulate the economy by cutting taxes and increasing investments, as we did during the 2008 financial crisis. But if this amendment had been in place then, our economy would have been in serious jeopardy, facing a much higher risk of a full-on, prolonged depression and massive job losses. Should our country face another financial crisis, this amendment would be the worst policy at the worst time. So, in sum, this amendment would threaten the retirement security of every senior who relies on Medicare or Social Security and every working American paying into these programs now. It jeopardizes every Federal program that helps our communities grow and hardworking families succeed. It places extreme financial strain on every State in the country, and it would make it much harder for our government to respond to crises or even function effectively. Other than that, it is a great idea. Mr. Speaker, this is terrible policy that ignores reality and real consequences and is purely intended to save Republicans' political rear ends. It is not just me making this case. Republican Senator Bob Corker stated recently: ``Republicans control the House, Senate, and White House. If we were serious about balancing the budget, we would do it. But instead of doing the real work, some will push this symbolic measure so they can feel good when they go home to face voters.'' Well said, Senator Corker. If my Republican colleagues truly believe this is a good bill and that it is good for the American people, then it is time for them to go home.

Mr. YARMUTH

Mr. YARMUTH. Mr. Speaker, this morning I saw a dramatic bit of evidence as to why the American people overwhelmingly reject the Republican donor relief bill known as the tax reform bill. Chairman Brady of the Ways and Means Committee, the author of this bill, was asked why he didn't do anything in the bill to change the carried interest deduction, that provision which allows billionaire hedge fund managers to pay a lower income tax rate than tens of millions of regular Americans. He said the middle class Americans don't care about that, working families don't. I understand why he didn't want to try to defend the protection of carried interest. There is no defense for it. But here is why every American ought to care: Because every dollar of lost revenue that goes back to those billionaire hedge fund managers will result in cut services for the vast majority of Americans, for Medicare, for Medicaid, for Social Security, and for many others. It will add to the debt that their children and grandchildren will have to pay for. Mr. Speaker, that is a good reason why everyone should care about this bill, why it is a scam on middle class Americans, and why it ought to be rejected.

Mr. YARMUTH

Mr. YARMUTH. Mr. Speaker, I thank my fellow Kentucky native for yielding. Mr. Speaker, today, my Republican colleagues will vote to approve a historically unpopular bill. The American people don't buy Republican claims that the bill will help middle class families. In fact, in several years, more than 83 million middle class families will see a tax hike. The people see that Republicans have sold their souls and principles to give tax cuts to wealthy corporations and to pay back their billionaire donors. They know the Republicans have abandoned any claim to fiscal responsibility. After all, nonpartisan analyses conclude this bill will add more than $1 trillion to the debt. But the Republican leadership has a plan to make up the difference, and it is something else. They are already working on legislation to make massive cuts to Medicare, Medicaid, and other programs families need. This isn't tax reform. This isn't help for the middle class. It is a scam, it is fraud, and it will have dangerous, long-lasting consequences for the American people. I urge my colleagues to defeat the rule and to reject this scandalous Republican donor payback legislation.

Mr. YARMUTH

Mr. YARMUTH. Mr. Speaker, I appreciate my friend yielding time. Mr. Speaker, this is a horror show today, this is a horror show debate, and this is a horror show process, but it is a disaster for the American people. The tax bill we are debating today will abandon millions of American families. It showers the wealthy and corporations with massive tax cuts, and it adds $1.5 trillion to our deficits. The top 1 percent get this massive payout in the neighborhood of $500 billion; hardworking families get pocket change. But millions don't even get that. In fact, 36 million middle class families will pay more in taxes because of this bill. Our Republican colleagues will be taking money out of the pockets of these families to give more tax cuts to the rich. But it doesn't stop there. It never does. This is part of a dangerous three-step process that we have seen, unfortunately, far too often: The first step, Republicans enact massive tax cuts for the rich, claiming they will generate enough growth to pay for themselves. I know my Republican colleagues desperately want the American people to believe that this is what will happen. But the record is clear. It failed in the 1980s, and it failed in the 2000s. It was an epic failure in Kansas. This is about politics, not reality, for them, which brings us to step two. Once these cuts fail to produce the growth that they promise, Republicans will shriek about the impending doom of high deficits and debt. Then they will quickly move to step three, demanding cuts in vital programs that benefit working families throughout our country. We have seen this act before. As I said before, it is a horror show. There is a reason why a lot of people are looking at this and saying this is the great tax scam of 2017--because it is the great tax scam of 2017.

Mr. YARMUTH

Mr. YARMUTH. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, the bill we are debating today is not a real effort at responsible budgeting. It is a means to an end: a single-minded plan to make it easier to enact tax cuts for the wealthy and big corporations, regardless of the consequences for everyone else. If approved by the House today, an irresponsible $1.5 trillion tax bill will come to the floor in a matter of weeks. It is being rushed because Republicans don't want the American people to know what is in it. They don't want you to find out that it overwhelmingly benefits the wealthy while increasing taxes on millions of middle class families. Rushing through legislation that impacts nearly every American family and business is reckless, and voting on a bill that rewrites our Nation's Tax Code a week or two after it is introduced without any real input from the people who will be impacted is negligent. But that is what you do when you can't defend your own policy. And there are a lot of unjustifiable provisions in this budget. On top of massive tax cuts for the rich, it cuts vital national investments, threatening our economic progress and our national security. It cuts more than $4 trillion in mandatory spending, including nearly $2 trillion from Medicare and Medicaid alone. The enormity of these cuts and the severity of the consequences for American families cannot be overstated. But more cuts will be coming once the Republican tax cuts blow an enormous hole in the budget. We will see a tax on Medicare, Medicaid, Social Security, nutrition assistance--on important benefits that help American families get ahead. I know my Republican colleagues desperately want to believe that the tax cuts in their budget will pay for themselves and usher in a new era of economic growth--or at least they want the American people to believe that. But the record is clear, this approach has failed time and time again. And now, even though the evidence and experts have concluded that these tax cuts will not create an economic boom but will, instead, lead to a higher concentration of wealth among the rich while dramatically increasing deficits and debt, my Republican colleagues are trying to do it again. Everything we do in Congress should be about making the lives of American families better and more secure. We owe them a budget that invests in their future, a Tax Code that is fair, and a full and honest debate on both. This budget and the tax cuts that will follow are a failure on all fronts. I, therefore, urge my Republican colleagues to abandon this dangerous budget and start addressing the needs and priorities of the American people. Mr. Speaker, I reserve the balance of my time. General Leave

Mr. YARMUTH. Mr. Speaker, I reserve the balance of my time.

Mr. YARMUTH. Mr. Speaker, on that I demand the yeas and nays.

Mr. YARMUTH. Mr. Speaker, I am happy to yield 1\1/2\ minutes to the gentlewoman from Washington (Ms. DelBene), a distinguished Member of the House Budget Committee and Ways and Means Committee.

Mr. YARMUTH. Mr. Speaker, I am happy to yield 1\1/2\ minutes to the gentlewoman from Washington (Ms. Jayapal), a distinguished member of the Budget Committee.

Mr. YARMUTH. Mr. Speaker, I remind the prior speaker, my friend from California, that Arthur Laffer was also the architect of the Kansas plan, which was disastrous for that State. So citing him as a source, I would be a little bit careful. Mr. Speaker, I am happy to yield 1\1/2\ minutes to the gentlewoman from California (Ms. Lee), a distinguished member of the Budget Committee and the Appropriations Committee.

Mr. YARMUTH. Mr. Speaker, I yield 1\1/2\ minutes to the gentleman from Pennsylvania (Mr. Brendan F. Boyle), a distinguished member of the Budget Committee.

Mr. YARMUTH. Mr. Speaker, I yield 1\1/2\ minutes to the gentleman from South Carolina (Mr. Clyburn), the assistant Democratic leader.

Mr. YARMUTH. Mr. Speaker, I yield an additional 30 seconds to the gentleman.

Mr. YARMUTH. Mr. Speaker, I yield 1\1/2\ minutes to the gentleman from California (Mr. Carbajal), a distinguished member of the Budget Committee.

Mr. YARMUTH. Mr. Speaker, I yield 1\1/2\ minutes to the gentlewoman from Florida (Ms. Wasserman Schultz), a distinguished member of the Budget Committee.

Mr. YARMUTH. Mr. Speaker, I yield 1\1/2\ minutes to the gentleman from New York (Mr. Jeffries), a distinguished member of the Budget Committee.

Mr. YARMUTH. Mr. Speaker, I yield 1 minute to the gentleman from Michigan (Mr. Levin), a distinguished member of the Ways and Means Committee.

Mr. YARMUTH. Mr. Speaker, I now yield 1\1/2\ minutes to the gentlewoman from Texas (Ms. Jackson Lee), a distinguished member of the Budget Committee.

Mr. YARMUTH. Mr. Speaker, I yield an additional 15 seconds to the gentlewoman.