. >>> president trump is sitting down with the the head of the afl-cio, richard trumka to talk about infrastructure and getting rid of nafta and other trade agreements. weigh on a this and more, our special guest, u.s. commerce secretary wilbur ross. we'll speak with grover norquist. texas attorney general ken paxton and lieutenant colonel oliver north. melissa: wow, that is a lot. we look at the dow dropping, ending the day down about 30 points. adam shapiro down on floor of the new york stock exchange. comments from the president and division among republicans over this new health care plan moving stocks big today, huh, adam? reporter: there was the tweet from the president talking about redoing the pricing of pharmaceutical companies. a knew system. competition for pricing for american people and prices will come way down. look what happened to the pharmaceutical stocks. look at some of the biggest losers. end dough pharmaceuticals. mylan took a hit as did pfizer. they were all down. then you've got the insurers. some of the insurers like aetna already pulled out of obamacare. oth

the center of labor, the cio and afl leadership, get their man elected. the question is, what we get for it? the answer is, they did to join this new person -- postwar record, become part of influence in government and the democratic party. they remain junior partners. in order to maintain their position, they join in the purging of communists from their ranks. a lot of words on that one, sorry. by the middle of 1949, the left led unions, there is a number of unions in which coming us had substantial influence i will talk about that in a minute. unions that were in certain industries, where they were organizing among workers of color, women, in industries that were often avoided by the biggest unions, but nonetheless were at the bottom of the economy. there were a number of unions that came to be defined as left-led. the cio breeze charges against 11 of the unions for being communist dominated and ends up expelling nine fm. while this is happening, there are things happening within the unions. walter reuther rises to power in the ranks of the uaw. a part

the wall street journal released an article supporting the afl-cio and its engagement abroad. this article was just one prominent example of how difficult it was for the new administration to strike a balance between overcoming malaise at home and supporting various labor organizations abroad. what reagan did initially was simply allow a continuous grassroot support for solidarity to be collected at home. he also let the department go undisturbed. later he became personally and gauged supporting the union, right after the introduction of the martial law. at the same time he had to be careful of not to cross the invisible redline and provoking his soviet intervention. while the stock and a communist stance faltered, he remained open to the possibility of internal changes at the soviet union began to bear fruit after gorbachev came to power. the wall street journal article for shadowed some of the fundamental trade-offs between domestic and foreign policy that persisted until the very end of reagan's presidency. the way that paradox was handled contains the key to understanding

trumka president of the he american federation of labor and congress of industrial organizations, afl-cioou so much for joining us last time we spoke, you were you said you met with the president, you said that you -- you were happy with some things he was doing with jobs your thoughts on speech last night first off. >> well, i think it was probably one of his finest moments last night, i mean ere was a lot hings that he followeupn promise that he made that was short on detail, and i hope he has starts to pivot from promises to actually laying the groundwork to make a lot of things real. those things we agreed with things we didn't agree works but i thought that his change of tone, signaled i hope it signaled that he is about to start doing business rather than playing for the camera. >> what do you want to see him do richard really, people follow your lead, you are the face of the union frankly i mean you are the leader there so what do you want to see the president do. >> when he ran, he said a couple things he said i am not going to let wall street get away with murder, and two, the xi

the afl-cio will sue the government if it waters down a boost in overtime pay eligibility. they were blocked by a federal judge. we will say goodbye to the raiders. the team moves to vegas after a vote of 31-1. the team could play in oakland while the new stadium is under construction. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. i am alisa parenti. this is bloomberg. "bloomberg technology" is next. ♪ cory: i am cory johnson. this is "bloomberg technology." coming up, snapchat wins on wall street but the real reason analysts are bullish. whatsapp creating a backdoor for intelligence officials. the new debate over privacy encryption. a self driving car accident grounds uber's autonomous cars. some are now back on the road. first, some investors had a rocky start for the failed health care vote on friday. we have abigail. there was a lot of pressure over the weekend. what do you see? abigail: the worst open for the s&p 500 for the year. the worst week for stocks last week. some bearishness. some e

the afl-cio is planning on suing the government. millions of workers were eligible for overtime last december over the numeral, but they were blocked by a federal judge. open will say goodbye to the -- oakland will say goodbye to the raider. they approved a move to las vegas. they could play in oakland until 2018 while the new stadium is under construction. global news 24 hours a day powered by more than 2300 journalists and analysts. i'm alisa. this is bloomberg. bloomberg technology is next. ♪ cory: this is bloomberg technology. coming up, snapchat wins on wall street but the real reason analysts are bullish. hatsapp creating a backdoor for intelligence officials. the new debate over privacy encryption. a self driving car accident grounds uber's autonomous cars. some are now back on the road. first, some investors had a rocky start for the failed health care vote on friday. we have abigail. there was a lot of pressure over the weekend. what do you see? abigail: the worst open for the s&p 500 for the year. the worst week for stocks

gather time is 320-ton electric the president will meet with that richard trumka the present of the afl-cio. they are expected to discuss importance of investing in our country's infrastructure and renegotiating trade agreements like nafta. they will be -- we will have further details on it. this eating the present will visit with a group of boy scouts were in washington to participate in a tradition of sharing scouting achievements, looking at a point to let you know the president will be welcoming at least two foreign leaders in the coming weeks and expect additional announcements of additional leaders later but first, next week chancellor merkel of germany will visit the white house and the following week the president will welcome prime minister of iraq. with that, i will take your questions. jonathan? >> thank you. it's been a full three days since the president said that president obama had his wires tapped come his phone step that trump tower in those three days as the white house come up with any evidence whatsoever to prove that allegation? >> i address this multiple times yesterda

mark: the afl-cio will sue if the trump administration tries to water down and obama-era boost in overtimelity. richard trumka told bloomberg the impact could be devastating cut millions of white-collar workers were set to become eligible for overtime last december under the new rules. they were blocked by a federal judge. labor secretary nominee won't say if the administration will defend those rules". the family of an american killed in last week's attacked in london is exposing gratitude for the kindness of strangers and insisting some good will come from the tragedy. he was on the last day of a european trip with his wife, melissa, when an attacker mowed down pedestrians on westminster bridge before stabbing a police officer in a parliament courtyard. mother saysran's the family appreciates the outpouring of notes, prayers, donations, and well wishes. britain says a planned trip to russia by foreign secretary boris johnson this week has been postponed. the foreign office says the trip is being delayed because the nato foreign ministers meeting is being rescheduled. british oicials say

the head of the afl-cio said the first billionaire businessman to become chief executive has thus far presented a mixed bag. >> what he did on tcp was good. the thing he is trying to do with infrastructure is good and then on the other side he put some people in there were antiunion. >> international brotherhood of teamsters broke with the obama administration on the keystone pipeline and declined to endorse hillary clinton during the primaries. the group is keeping an open mind about donald trump. >> we want the american worker to be successful and if that includes working with the president, we will do that. he is the president and we intend to work with him where we can. >> i, richard nixon, do solemnly swear... >> the only time winning the vote -- former aide to president george w. bush and a fox news contributor is working privately to strengthen the ties between big labor and the publican party. >> they are giving the president the benefit of the doubt to wait and see what the infrastructure program is going to look like, what trade is going to look like, what relations between

upcoming luncheons include afl-cio chair richard trumka on april 4. john costin and on april the fifth. joint chiefs of staff chair general john dunford will be here april 21. and that lorena misty copeland will be here april 17 to talk about her new book "ballerina body." on april 17 at a newsmaker. and before i get the last question, we have a tradition here. everyone from nelson mandela to benjamin netanyahu has received this mug. >> the same mug? >> [laughter] >> thank you very much. [applause] >> final question. if you became the czar of health care in the u.s. and had a guarantee that all stakeholders would live up to what you would be doing behind you. what would your recommendations look like? or one recommendation. >> just what i described. i believe in choice and market-based solutions. i think our health care has been hugely distorted by a lack of incentives in the right place. i think we need to go back to the relationship with the patient. we need to provide incentives for the providers to look after their population and maintain health.

at 4:30 p.m., president trump is scheduled to meet with the president of the afl-cio. p.m., paul ryan will host a news conference about his party's new health care plan . democrats are pouncing on predictions that the replacement could result in fewer insud americans. weight in on republicans' new plan. >> people will drop out under the so-called medicaid expansion. the bill intends to pull back on low income coverage under medicaid. fewer people will have health insurance and that includes children. second, the tax credits will allegedly replace the other credits -- those tax will be much lower. they will make it much harder for a person to buy health insurance. david: we want to bring in jon selib. let me start by getting your reaction to this piece of legislation. the sense i get is it is not quite as bad as many democrats thought it would have been. what are the biggest qualms you have with it? jon: look, i think senator baucus had some wise things to say. challenges couple of in the legislation and ones that will make it very difficult for republicans to navigate

upcoming luncheons include the afl-cio chair richard trumka on april 4. irs mission john koskinen come just in time for tax day on april fifth. joint chiefs of staff chair general john dunford will be here on april 21. and misty copeland will be on april 17 talking about her new book on april 17th. as a newsmaker and before i give you the last question, we have a tradition here here everybody from nelson mandela to benjamin thethat yahoo! has received this mock. >> same mug? [laughing] >> not the same. it's yours. >> thank you very much. [applause] >> final question. if you became bazaar of health care in the u.s. and that a guarantee that all stakeholders would live up to what you would be doing behind you, what would your recommendation look like? >> well, i think what i just described. i believe in choice and market-based solutions. i think our health care has been hugely distorted by a lack of incentives being in the right place. i feel that we need to go back to physician, hospital provide a relationship with the patient. we need to provide incentive

of both sides of the aisle and both houses, but also groups, business leaders, union leaders, the afl-cio had richard trumka here yesterday. this is a president who's going to engage with everybody who can help join in proposing ideas and thoughts and opinions how to move the country forward. he looks forward to dinner with senator and mrs. cruz as he has with several others, you will see more and a continued effort to reach out and get people's ideas. margaret. >> reporter: does the president believe the cia has been compromised in any way? >> with respect to the disclosure? again, i'm not going to -- it's u.s. government policy not confirm this. there has been a big misunderstanding with the national classification. there has been a lot of disclosures about national security that occurred last cycle when there is potential that the fbi had leaked certain information. the members of congress on the other side of the aisle talked about how there was so much concern about classified information. in such silence and outrage from the media and others. with things that may or may not have hap

the afl-cio will sue if the trump administration tries to water down and obama era used in overtime eligibilitychief told bloomberg news that the impact could be devastating. it is of white-collar workers were set to become eligible for overtime pay last december under the new rules. they were blocked by a federal judge. the president toss labor secretary nominee won't be if the administration would defend the rules in court. the family of an american who was killed in last week's attack in london is expressing gratitude for the kindness of strangers. insisting that some good will come from the tragedy. curt coffman of utah was on the last day of the european trip with his wife melissa. an attacker motor down pedestrians on west mr. bridge before stabbing a police officer in a parliament yard. britain's has a planned trip to russia by foreign secretary johnson this week has been post owned. the trip is being

the afl-cio has written, the absence of enforcement, there's no question that the underreporting of injuries, already a widespread problem, will get much worse, undermining safety and health and putting workers in danger. group of 66 professional workplace safety groups wrote that osha, the osha clarifying rule and maintaining accurate records imposes no new costs to businesses, but is critical to assuring that workplace facilities and injuries are prevented. mr. speaker, i ask unanimous consent that these letters be entered into the record at this point. the speaker pro tempore: without objection. . mr. scott: i ask for a no vote and i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from alabama. mr. byrne: i yield the balance of my time. i ask unanimous consent to put in a letter dated february 25, 2017 from the associated contractors of america. a letter from the associated builders and contractors.

that's why the afl/cio, the united steelworkers, and the aerospace workers all came out to applaud theaddresses the current lack of was inments enf. counter veiling duties. they were put in place to address the problem of other countries dumping undervalued goods into american markets. making it impossible for american businesses to compete with artificially low prices. this is especially a problem in countries whose government s subsidize exports into our country. there's a mechanism for assessing these type of transactions and imposing financial penalties when it's determined that this kind of malicious dumping has occurred. since 2001 the u.s. customs and border protection agency has not collected over $2.8 billion in these duties. you think about it, we could do a lot by maximizing this enforcement power for our country. we need to do a better job on behalf of the american worker. if a foreign company often due to its being partly or entirely government run or subsidized is able to flood with a cheap steel, they'd price american companies out of the system. say you're the owner of

he leads a meeting of house members and then meets with afl-cio president richard trumpka. president trump's explosive and unsubstantiated wiretap claims and the republican plan to replace obama care just two of the issues the press secretary sean spicer will no doubt be questioned about this hour. let's go to our senior white house correspondent jim accosta and our senior congressional reporters manu raju. they're both up on capitol hill, actually. jim accosta is not on capitol hill. he is over at the white house. jim, spicer was asked about president trump's allegation that president obama tapped his phones. he did not provide any evidence at all, but he said, quote, there is no question that something happened. what more are we hearing from the white house? >> as of this point, wolf, nothing. we are hearing no new information, no new proof, no new evidence from this white house to back up the president's claim that he tweeted over the weekend that somehow former president obama orchestrated the tapping of his phones up at trump tower, and so at this point it is still som

president will also meet with the president of the afl/cio. they will discuss the importance of investing in the country's infrastructure. they'll also be a pool at the top of that meeting and we will have further details on it. this evening the president will meet with a group of boy scouts who are in washington to participate in a near century old tradition of sharing scouting achievements with government officials. looking ahead, the president will be welcoming two foreign leaders in the coming weeks. i expect additional announcements of additional leaders later. but first chancellor merkel will visit the white house and iraq's chancellor. with that, i can take your questions. jonathan carl. >> it's been -- thank you. sean, it's been a full thraoeu days since the president said that president obama had his wires tapped, phones tapped at trump tower. in those three days has the white house come up with any evidence whatsoever to prove that allegation? >> i addressed this multiple times yesterday. the president, we put out a staple sunday say

gather time is 3:20 the president will meet with richard trumka, president of the afl-cio.y're expected to discuss the importance of investing in our country's infrastructure and renegotiating trade agreements like nafta. there will also be a pool spray at the top of that meeting and we'll have further details on it. this evening the president will visit with a group of boy scouts who are in washington to participate in century-old tradition sharing scouting achievements with key government officials. looking ahead the president will welcome two foreign leaders in the coming weeks. i expect additional announcements of additional leaders later. next week chancellor merkel of germany visits the white house and following week the president will welcome prime minister albali of iraq. with that i kick off questions. jonathan karl. jonathan. >> sean, it has been, thank you. >> you're out of practice. >> it has been a full three days since the president said that president obama had his wires tapped, phones tapped at trump towers. in those three days has the white house come up wi

also groups, business leaders, union leaders, the afl-cio head was here yesterday. this is a president that will engage with anyone who can propose thoughts, ideas to move the country forward. he's looking forward to dinner with senator and mrs. cruz as others. you'll see more and a continuation of this effort to reach out and get people's ideas. margaret. >> does the president believe the cia has been compromised in any way? >> with respect to the disclosure, is that what -- i'm not. it's u.s. government policy not to confirm this. i think he is, obviously, been very concerned, as i've stated, about the disclosure of national security on any level. it undermines our country's national security. and i think that -- i will say, i think there's been a big double standard when it comes to disclosures of national -- of classified information. the outrage or the -- that exists when one side has it happen versus another. there was -- well, i think that there has bony a lot of disclosures about national security that occurred last cycle when there was potential the fbi lea

that is why the afl-cio, united steelworkers international, international association of machinists,aerospace workers international all came out to applaud the order. the second executive order addresses the current lack of enforcement of one of our strongest tools and fighting unfair trade practices. countervailing duties. countervailing duties were put in place to address the problem of other countries dumping undervalued goods into american markets, making it impossible for american businesses to compete with artificially low prices. this is especially a problem in countries whose governments subsidize exports into our country. so to discourage this practice, the u.s. customs and border protection agency has a mechanism for assessing these types of transactions and imposing financial penalties known as countervailing duties what it is determined this type of malicious dumping has occurred. since 2001, the u.s. customs and border protection agency has not collected over $2.8 billion in these duties. think about it, we could do a lot by maximizing its enforcement power for our count

that is why the afl-cio, united steelworkers international, the international association of machinists, and the aerospace workers international all came out to applaud the order. the second executive order addresses the current lack of enforcement of one of our strongest tools in fighting unfair trade practices, countervailing duties. countervailing duties were put in place to address the problem of other countries dumping undervalued goods into american markets, making it impossible for american businesses to compete with artificially low prices. this is especially a problem in countries whose governments subsidize exports into our country. so to discourage this practice, u.s. customs and border protection agency has a mechanism for assessing these types of transactions and imposing financial penalties known as countervailing duties when it is determined that this kind of malicious dumping has occurred. since 2001, the u.s. customs and border protection agency has not collected over $2.8 billion in these duties. you think about income, we could do a lot by maximizing its enforcement p

the afl-cio is planning on suing the government. were eligible for overtime last december over the numeral, but they were blocked by a federal judge. open will say goodbye to the -- oakland will say goodbye to the raider. they approved a move to las vegas.

the afl/cio president was here yesterday. this president will engage with anybody who can help with thoughts and opinions on how to move the country forward. he looks forward to dinner tonight with senator and mrs. cruz as he has with several others. i think you'll see a continuation of this kind of effort to reach out and get people's ideas. >> does the president believe the cia has been compromised in any way? >> with respect to the disclosure? that's u.s. government policy not to confirm this. he is obviously been very concerned as i stated about the disclosure of national security on any level. it under minds our country's national security. and i think that, you know, i will tell you, i think there's been a big double standard when there comes to disclosures of classified information. the outrage that exists when one side has it happen versus another. there has been a lot of disclosures about national security that occurred last cycle when there was potential that the fbi had been leaked certain information. the members

he will be meeting with the president of the afl-cio. they are expected to discuss the importance of investing in our country's infrastructure and nafta renegotiations. there will be a pool spray at the top of thattet mooing. this evening the president will visit with a group of boy scouts who in washington to participate in a tradition of sharing scouting commitment with key officials. the president will welcome at least two foreign leaders in the coming weeks. i expect additional announcements of additional leaders later. first, the german chancellor and the president of iraq. with that i'll kick it off with your questions. jonathan carl. >> sean, it's been a -- >> jonathan. >> you are out of practice. >> i know. >> thank you. i know. it's been a full three days since the president said that president obama had his wires tap his phones tapped at the trump tower. in those three days has the white house come up with evidence to prove that allegation? >> i addressed this multiple times yesterday. the president, we put out a statement on s

of a dinner i had at the afl-cio in any case, i guess my views are very different than the previous speaker. an identity that a trade deficit equal save benefit. one can say we have a trade deficit as we have a saving deficits. i could run causality in the other direction. if i wanted to debunk the trump administration, that is what i would do. people are wondering how brexit happened or trump happened. i never endorsed donald trump and i and not here to defend his policies. the was worried about economic bomb, iould certainly make at argument. to focus on my argument, it is true that the current account of the sit has to equal net capital influx. because we have a current account deficit, we have capital inflows or i could build an argument in either direction and use reasonable economics to accomplish that. in my mind the trade deficit is of result of a combination the technological forces driving globalization on one hand and mercantilism and nationalism on the other hand. we have a rules-based international trade system which i much admire and feel is sorely threatened. international tr

chairman, i also would like to submit for the record a letter from the afl-cio supporting our efforts to repeal the cadillac tax from this legislation. i ask that it be included in the record. >> without objection. >> thank you. so i encourage my colleagues to support this amendment and i yield back to miss sanchez. >> thank you. reclaiming my time i would like to yield some time to the gentleman from connecticut, mr. larson. >> i thank the gentle lady and especially thank her for her hard work and dedication and would also like to give joe courtney from connecticut a great deal of credit who, from its inception, has been the lead sponsor against the dreaded cadillac tax. i would just note, mr. chairman, you noted at the outset of this that this was a program here today to provide relief and rescue, and i think it does provide relief and rescue for the trump cabinet, wilbur ross with a net worth of $2.5 billion. betsy devos, $2.2 million. i could go on and on. meanwhile, firefighters, police officers, rank and file union members get left out of the equation and that's why we feel so s

. >> that is why the afl-cio, the united steelworkers international, the international association ofrs international all came out today to applaud the order. the second executive order addresses the current lack of enforcement of one of our strongest tools fighting unfair trade practices, countervailing duties. countervailing duties were put in place to address the problem of other countries dumping undervalued goods into american markets, making it impossible for american businesses to compete with artificially low prices. this is a especially a problem in countries whose governments subsidize exports into our country. to discourage this practice the u.s customs & border protection agency has a mechanism for addressing these types of transactions and imposing financial penalties of countervailing duties when it is determined this kind of ma like should dumping has occurred. since 2001 the u.s customs & border protection agency has not collected $2.18 billion in these duties. you think about it you can do a lot by maximizing this enforcement power for our country. we need to do a bet

richard trump from the afl/cio will be here. a lot going on, kelly. >> i can hardly keep up.you. at the white house. >>> before we let you go, any thoughts you'd adas people go through the obamacare repeal, go through the prospects and plug in the 234er78s in terms of what a that might mean? is that important to you as you assess the market? >> obviously very, very important. the market's hesitating here only because it's anticipating it. and what little did i know the new president, he seems to be the type of a guy, he has a deadline. he wants to get everything done i think by the end of this first 100 days. he's got a goal and wall street's going to love it. stay with the leaders. stay with the financials. stay with technology. i think the next leg is up, kelly. >> all right. thank you for joining us. ralph, mike as well. >>> still to come, president trump praising the house plan to replace obamacare but the bill may not have an easy road in becoming law even with members of the gop. up next, we'll hear from a member of the republican freedom caucus. then we'll assess the o

the president of the afl-cio says his organization will soon as the trump administration tries to waterama era eligibility regulations. he told bloomberg the impacts could be devastating. millions of white-collar workers -- weregible to become eligible for overtime but were blocked. the labor secretary nominee did not say. if they would defend the rules in court. suspended testing of a self driving vehicles. it crashed in self driving mode. police say the uber vehicle was not at fault, and they're are waiting for the results of the investigation. the pentagon is lately to give the go-ahead for a new helicopter program that could cost of the $29 billion. lockheed martin is transporting heavy cargo for the marine corps. the pentagon's acquisition board meets to decide whether to approve production. that's your bloomberg business flash. i'm emma chandra. this is bloomberg. david: thank you. markets are reacting to the legislative failure of health care reform, but with the federal reserve -- but will the federal reserve follow suit? we start with the former atlanta fed president, dennis lo

thehe steelworkers unin here in the e united states, one of f the largest unions in the afl-cio, here, stunned the world of american labor two years ago when they issued a press release announcing the formal alliance-- i'i'll usese their words--the fl alliancnce between thehe steelwororkers union of the unid states, which--i don't know how many members it has, but in the hundreds of thousands, big unionon--with mondragon, the corporate--that huge, successful worker's self-directed entterprise in spain. and i remember many of us were taken aback. "what an interesting idea. an alliance." what did it mean? well, the details were hard to come by. it seems as thougugh there was discussion, obviously, between them. they issued a joint press release and had a press conference. but it's hard to tell, so i'm now going to imagine where this might go. i'm not saying that's where they're taking it. i don't know exactly where they're goingng to take i, or even whether they're going to take it somewhere, but here's what i would do. imagine a trade union movement with a completely different strategi

for having worked with the democratic legislature and working with the chamber of commerce and the afl-cio and the american nurses association and the american medical association has we devised a plan that in many ways became a model for the aca. mr. chairman, the bill it self in front of us this morning is a danger to the american people. none of the proposed amendments will improve the legislation to any appreciable degree. most of the minutes make the bill more ciccone and. -- more draconian. the combined tax cuts now total nearly $900 billion. while more than a trillion dollars is taken from the medicaid and medicare trust fund. like millions of americans, my constituents recognize the danger posed by this legislation. millions of middle-class americans will be worse off while many millionaires will be better off and read the tax benefit. governor baker wrote the following, "over all our ahcasis indicates that the which strain necessary resources for universal health care coverage." .he bill would not lower costs in fact, cbo confirmed that americans will face higher costs and less va

having worked with the democratic legislature and having worked with the chamber of commerce and the afl-cio and the american nurses association and the american medical association as we devised a plan that in many ways became a model for the a.c.a. i might point out it falls well into the 70's today in terms of customer satisfaction. -- it polls well into the 70's today in terms of customer satisfaction. mr. chairman, the bill before us this morning is a danger to the american people. none of the proposed amendments would improve it to any appreciable degree. in fact most amendments filed would make it more tra conian. in particular the manager's amendment accelerates what really is a tax gave-- giveaway to people at the very top. the combined tax cuts total nearly $900 billion while more than a trillion dollars is take fn the medicaid and medicare trust fund. like millions of americans across the nation, my constituents recognize the danger posed by this legislation. millions of middle class americans will be worse off while many millionaires will be better off and reap the actual tax ben