Rep. Mark Takano (D-Calif.) released the following statement after voting against GOP tax bill, which would cut taxes for corporations and the wealthiest families while adding more than a trillion dollars to the deficit.
"Today, the House of Representatives missed a huge opportunity to cut taxes on middle-class Americans, grow the economy, and invest in our country. Instead, Republicans used a rushed and partisan process to pass an immoral piece of legislation that cuts taxes for corporations and the wealthiest Americans, while adding more than a trillion dollars to the deficit.
"This bill will restrict our ability to improve education, rebuild our infrastructure, and provide affordable health care to working families, seniors, and veterans. Repealing the individual mandate alone is expected to cause 13 million Americans to lose their health insurance and increase premiums by 10 percent.
"This legislation is particularly cruel for Californians, who already pay more into the federal government than they receive. The cap on deductions for state and local income taxes, the cap on the mortgage interest deduction, and the repeal of deductions for property losses from wildfires all appear directly targeted to hurt Californians.
"This is not a middle-class tax cut. The majority of the benefits will go to the wealthiest one percent of Americans. This is not a jobs bill. Corporations will use these tax cuts to reward shareholders and invest in automation, which will accelerate job losses. This is a historic heist that our nation will regret for years to come.