Congressman Tom Suozzi Exposes GOP Tax Bill Scam at Hearing
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What is the GOP tax bill scam exposed by Democrats?
So Donald Trump's one big, beautiful bill that they're trying to ram through Congress was exposed today in perfect form as one big, beautiful, massive scam as Democratic members of Congress, led by Democratic Congress member Tom Swasey, pointed out that all of donald trump's promises when you actually read the bill it turns out they are scams so let me show you what congress member swazi was asking uh an individual who's part of the kind of non-partisan uh tax group that like ranks these pieces of legislation here take a look at this okay on tips the president said your tips will be 100 yours
Does this tax bill continue the payroll tax on people's tips? Yes, it does. Overtime. The president said your overtime will be tax-free. Does this bill continue the payroll tax on overtime?
It does not exempt overtime from the payroll tax.
The president said he's going to remove taxes on Social Security. Does this bill remove taxes on Social Security benefits?
The legislation provides an increased exemption amount for... But does it remove taxes on Social Security benefits as promised by the president? It does not change Social Security.
The president and the Republicans.
That's how it's done right there. Let's also show you Democratic Congress member Doggett. Here's what he points out. Let's play it.
Mr. Barthold, that this legislation fails to extend the enhanced tax credits that lower the cost of insurance for millions of Americans who purchase their own coverage through the marketplace. That's correct. And when the Republicans permit these credits to expire in a mere seven months. What is the effect on health insurance premiums for those individuals that rely on the marketplace today?
Work that our staff has done in conjunction with the Congressional Budget Office suggests that premiums will increase for individuals, sir.
Yes, sir. They go up about almost 8%, I believe is the specific calculation that you did. And is it true that this failure on the part of Republicans will raise premiums not just for those, that they'll raise them really for nearly everyone in the marketplace, not just for those who receive the subsidies? Okay. That's correct.
That's part of the analysis.
If my understanding is correct, failure to extend this policy will result in an increase in the number of uninsured Americans. Is that right? That's correct, sir.
Let's bring in Democratic Congress member Tom Suozzi. Congress members, some great questioning right there. Talk to us about it. This seems like it's one big scam. What do you make of it?
You know, it's like it's like as they say, it's like bizarro world where you're just an. what completely two opposite worlds. You've got the Republicans saying the big, beautiful bill, and it's gonna improve the economy. It's gonna do all these great things. And then you have the Democrats like myself saying, this is gonna massively increase the deficit. You say you wanna be the party working class, but you're cutting the taxes for the wealthiest people in the United States of America again. You're paying for it, by kicking people off of their health insurance, some of the people that need it the most, almost 14 million people estimated by the Congressional Budget Office. And there's a whole bunch of provisions that they promised they were gonna do. For me, the state and local tax deduction is the big one that the president said, we're gonna get the state and local tax deduction back. And they're not doing it. They're only increasing it from 10,000 to 15,000, 30,000 if you're married.
But there's at least four Republicans that have come out and said, we're not voting for this bill unless you make it higher. So it's just, it's the same old divided system. why can't we just like sit down and work together with each other? Why do you have to reduce the taxes for people who make a million dollars a year from 39.6 down to 37? I mean, why? You know, they don't need it. And you can pay for some other good stuff.
Let's go through all those things one by one and break it down. So first, there were the promises made, and as you showed, promises not kept, right? So MAGA Republicans are out there, and they're telling people that the tax bill contains the payroll tax on tips. You said, does this tax bill continue, rather, the payroll tax on tips? And the guy goes, it does. So that's not there.
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