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Nov 16, 2017
11/17
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mr. bartow, let me ask you a couple questions if i could. i want to focus on taxes that people have to pay, not payments to insurance companies. let's not focus on payments that my colleagues are certainly suggesting is a tax increase. if you look at the actual taxes that are actually paid by human beings, and i look at the chart that was produced on november 11th, i see reductions in every single cohort. every income cohort. let's take, for instance, the $20,000 to $30,000 cohort. the number on my sheet here is a 7% average reduction in taxes. you see that number? >> which year, senator toomey? >> i'm sorry. 2023. >> the senator is referring to jcx-53, which was the distribution analysis for underlying chairman's mark. >> right. >> yes, in the $20,000 to $30,000 we had estimated that the total taxes collected attributable to that income group would fall by 7%. >> right. and it falls in all the brackets. >> he's on page 3 of jcx-53-17, which was the distribution of the chairman's mark before the modification. >> which simply illustrates, con
mr. bartow, let me ask you a couple questions if i could. i want to focus on taxes that people have to pay, not payments to insurance companies. let's not focus on payments that my colleagues are certainly suggesting is a tax increase. if you look at the actual taxes that are actually paid by human beings, and i look at the chart that was produced on november 11th, i see reductions in every single cohort. every income cohort. let's take, for instance, the $20,000 to $30,000 cohort. the number...
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Nov 7, 2017
11/17
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mr. bartow talked about every group on average benefited. when you go beyond the averages, it's very clear this is the opposite of a middle class tax cut. the speaker said the focus is on middle class tax relief. the focus is on directed tax relief to the people in the middle and people who are trying to get there. that is why we put our emphasis on that tax relief for those people who are in the middle. when it comes to amt, it's the opposite. when it comes to pass through, it's the opposite. when it comes to the estate tax, as we discussed yesterday, it's the opposite. as we have new data, it also shows as to the individual taxpayer, it's also the opposite. we asked yesterday for there to be a breakdown in terms of these income categories. so this is what this breakdown shows. and i read this. in 2023, 24.6% of taxpayers between 7 $75,000 and $100,000 will see a tax increase. in 2023, 20.1% of taxpayers between $50,000 and $75,000 will see a tax increase. in 2025 it gets worse. 26.7% of taxpayers between $75,000 and $100,000 will see a tax
mr. bartow talked about every group on average benefited. when you go beyond the averages, it's very clear this is the opposite of a middle class tax cut. the speaker said the focus is on middle class tax relief. the focus is on directed tax relief to the people in the middle and people who are trying to get there. that is why we put our emphasis on that tax relief for those people who are in the middle. when it comes to amt, it's the opposite. when it comes to pass through, it's the opposite....
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Nov 9, 2017
11/17
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mr. bartow and and i'm asking to have distributed to the committee a copy of the exchange that i've had over the last four days that talks about this being a problem so that -- i should have done it monday. to every committee member. to understand what's going on. but i would like to have that available to each committee member before we get into a discussion. so they know what -- mr. brady: great. would you like -- mr. nunes. mr. nunes: i withdraw my point of porder. mr. brady: the gentleman from oregon is recognized for five minutes on his amendment. mr. blumenauer: for how many minutes? mr. brady: three minutes. you should have take then first offer. mr. blumenauer: no, i try to play straight with you, if you i want to take care of that. before the time starts can i ask that some items be submitted for the record. from "the hill" magazine, congress turns its back on american workers. from the american wind association, house reneges on tax deals, puts american jobs at risk. along with that, a map showing the distribution of all the major wind facilities across the country and the final ma
mr. bartow and and i'm asking to have distributed to the committee a copy of the exchange that i've had over the last four days that talks about this being a problem so that -- i should have done it monday. to every committee member. to understand what's going on. but i would like to have that available to each committee member before we get into a discussion. so they know what -- mr. brady: great. would you like -- mr. nunes. mr. nunes: i withdraw my point of porder. mr. brady: the gentleman...
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Nov 16, 2017
11/17
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mr. bartow has confirmed that. let me say something about this notion, first of all our ranking member has referred to a tv clip with gary cohn, i'm very certain that the ranking member understands very well that that is not exactly a systematic representative sampling of american business. there were a handful of people in a room who for whatever reason may or may not raise their hand about a question. who knows? there's a fundamental reality. in our economy, like every big economy, capital is invested every year, invested capital takes the form of people putting machines and vehicles and equipment to work, that's what expands the capacity of our economy, that's what generates jobs, that's what's creates higher productive and higher jobs and wages. every year that's what happens. and every year, every ceo is making a decision about how much more capital to invest. what we're doing with this bill, we're making it more economically attractive to invest capital. we allow full expensing, rather than gradual depreciati
mr. bartow has confirmed that. let me say something about this notion, first of all our ranking member has referred to a tv clip with gary cohn, i'm very certain that the ranking member understands very well that that is not exactly a systematic representative sampling of american business. there were a handful of people in a room who for whatever reason may or may not raise their hand about a question. who knows? there's a fundamental reality. in our economy, like every big economy, capital is...
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46
Nov 7, 2017
11/17
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davis bartow,r questions mr. we will reset for a vote on the house floor. we'll immediately reconvene here finish the amendment, and vote tonight. so dr. davis, you are recognized to strike the last word on the amendment. yield. >> the gentleman yields. >> mr. chairman, in response to what mr. reid said, we tried some of the words tonight, but i want to say something. the camp model, even though there is broad disagreement, we are at three years. there are a series of informal sessions, formal sessions, we went back and forth and much of it was based upon goodwill and much of the fording of that legislation came from your side when the bill was published. but i do think in fairness that mr. camp give us every opportunity to participate in the dialogue as we went along on the bill. the two of us joined the committee of the same day. we are very good friends and i must tell you he broke it down so that every single item in his eventual proposal had been thoroughly parsed, and if you recall,'s strategy was to move your side out of the room after he had moved t
davis bartow,r questions mr. we will reset for a vote on the house floor. we'll immediately reconvene here finish the amendment, and vote tonight. so dr. davis, you are recognized to strike the last word on the amendment. yield. >> the gentleman yields. >> mr. chairman, in response to what mr. reid said, we tried some of the words tonight, but i want to say something. the camp model, even though there is broad disagreement, we are at three years. there are a series of informal...