WASHINGTON D.C. – The House and Senate versions of the tax reform bill may be passed and now headed for reconciliation in the conference committee, but Congressman Richard Neal has not let up in his criticism of the two bills.

On Dec. 5, Neal spoke from the floor of the House attacking the bills and their supposed savings to taxpayers. Neal is the ranking Democrat on the House Ways and Means Committee.

He said in his remarks that while Republicans like to use the example that a family of four earning $59,000 would save $1,189 annually in taxes under the proposals, what they would no longer have would be deductions for the state and local taxes they pay, as well as the elimination of the deductions for student debt.  Mortgage interest would not be a deduction either.

Neal also said historic tax credits and new market tax credits that have been used to develop businesses would also be gone.

“The best one of the bill, as champions of the middle class they are [the Republicans] going to repeal the estate tax,” Neal said.

He asserted the greatest amount of tax relief is going to the wealthy, which he called “the Holy Grail of Republican economics.”

Speaking to the reported deficit the tax bills would create for the federal budget, Neal said, “There is a preposterous argument that tax cuts pay for themselves: you can’t find a mainstream economist to say that tax cuts pay for themselves.”

Neal charged that instead of cutting taxes in the manner that has been proposed, the federal government should be funding vocational schools to fill the millions of jobs that are going vacant and seek to strengthen programs to address the opioid addiction epidemic.

On Dec. 7, Neal appeared with other members of the House to emphasize how the tax bills would affect Puerto Rico at a time the island is recovering from Hurricane Maria.

Neal called how the bills treat Puerto Rico “a missed opportunity,” and noted if passed there would a 20 percent excise tax imposed on good from the island.

“There was a chance to have done something grand,” Neal said of the tax bills.

He said he would fight for tax relief to assist Puerto Rico and the U.S. Virgin Islands in their rebuilding efforts. Neal added he is fearful the evacuation of many younger Puerto Ricans to the mainland will have a negative effect on the island’s economy in the future.

On Dec. 1, Neal introduced two pieces of legislation, the Automatic Retirement Plan Act of 2017 and the Retirement Plan Simplification and Enhancement Act of 2017. Both bills are designed to make it easier for Americans to save for retirement.  

The Automatic Retirement Plan Act of 2017 generally would require all but the smallest employers to maintain a 401(k) plan for their employees, while the Retirement Plan Simplification and Enhancement Act of 2017 includes several provisions to simplify the retirement rules.

“Too many workers in this nation reach retirement age without the savings they need to live a healthy, secure retirement. The retirement crisis in America is real and will only worsen unless we make saving easier and do more to encourage workers to begin saving for retirement earlier. These bills simplify our retirement system and create more opportunities for people to save. After lifetimes of hard, honorable work, Americans should be able to retire with dignity and financial security,” Neal said.