EVENING WRAP UP (Nov 8): Tax Bill Markup Highlights
On Wednesday, the House Ways & Means Committee continued marking up the Ryan-McConnell Republican tax bill. Congresswoman Terri A. Sewell (D-AL) offered an amendment to restore the ability of state and local governments to save taxpayer money by refinancing debt with advanced bond refunding. Democrats also offered amendments restoring the student interest tax deduction, expanding the earned income tax credit, restoring the medical expense deduction, and more. After rejecting fourteen amendments on party-line votes, Republicans cut debate on the tax bill short, leaving other Democratic amendments unable to be considered.
ON SOCIAL MEDIA
REMARKS & QUOTES
- Rep. Sewell Calls for Expanded Earned Income Tax Credit (WATCH NOW):
“The Earned Income Tax Credit is a great program that rewards work. So often, we want folks to get off of government assistance and work. And this is a program that encourages those who are working to continue to work and provide for their families. This program is a powerful tool for economic opportunity.”
- Rep. Sewell Offers Advanced Bond Refunding Amendment (WATCH NOW):
“Private activity bonds, along with advanced refundings, as well as New Market Tax Credits, and historic tax credits are really useful tools for helping to get public projects done. It’s a way of not only incentivizing investment in infrastructure, but it also is a lifeline of so many public entities that we represent. Everything from cities and counties to hospitals and universities. It’s really important for low-income housing. These are really important financing tools.”
- Rep. Sewell Supports Student Loan Tax Deduction Amendment (WATCH NOW):
“As the proud daughter of two long-time educators, and the proud product of public schools in Alabama, I know the power of public education. I support Mr. Doggett’s amendment because I believe it is the best way we can support better teaching and education in America. I have a deep concern about this Administration’s attempt to divert public dollars to private, often unaccountable schools. H.R. 1 doubles down on that agenda.”
WHAT TO EXPECT TOMORROW
The Ways & Means Committee will finish consideration of the Republican tax bill tomorrow. The Chairman will offer a final manager’s amendment, the text of which has not yet been shared publicly. After limited time for debate, the Chairman will force a final vote on the amendment. After passing the Ways & Means Committee, the Speaker of the House will place the bill on the calendar for a vote before the full House.
Rep. Terri A. Sewell (D-AL) is serving her fourth term representing Alabama’s 7th Congressional district. She sits on the House Permanent Select Committee on Intelligence and was recently appointed to the powerful House Ways and Means Committee. Sewell is a Chief Deputy Whip and serves on the prestigious Steering and Policy Committee of the Democratic Caucus. She is also a member of the Congressional Black Caucus, and serves as Vice Chair of the Congressional Voting Rights Caucus, and Vice Chair of Outreach for the New Democrat Coalition.