Costa Statement on House Republican Tax Bill

Nov 2, 2017
Press Release

WASHINGTON, DC – Today Congressman Jim Costa (CA-16) released the following statement after the release of the House Republican tax bill, the Tax Cuts and Jobs Act:

“Americans need long-term tax reform that makes the tax system fairer, simpler, and incentivizes pro-growth investments that serve the economic interests of all Americans. This requires a bipartisan deliberative process that skillfully examines various options for reform and carefully considers their consequences. This is good governance.

“The drafting of the Tax Cuts and Jobs Act was not a bipartisan process, and it appears House Republicans are going to rush the bill through the chamber. I urge my Republican colleagues to change their course, reach across the aisle, engage in serious bipartisan negotiations, and give Americans the good governance they want, need, and deserve.

“Over the next few days, I will carefully review the Tax Cuts and Jobs Act and evaluate the policy based on how it would likely affect our national debt, and how it plans to incentivize intelligent investment in the American economy and our American future. I will pay especially close attention to how this bill would likely affect the State and Local Tax, the Earned Income Tax Credit, the Child Tax Credit, the New Markets Tax Credit, and our agriculture and small business communities.  

“Fiscally-responsible tax reform is policy that does not increase the deficit, does not unfairly harm one state, region, or group in order to disproportionally benefit another, and does not saddle future generations with our debt. I have always called for bipartisan fiscally-responsible tax reform, and I will continue to do so. We simply cannot mortgage our future.”