Washington, D.C.—Today, Congresswoman Alma Adams (NC-12) issued the following statement after voting against H.R. 1, the so-called “Tax Cuts and Jobs Act”.
“The Republican tax plan adds trillions to the deficit and increases taxes on working families to give a tax cut to corporations and the wealthy. I could not support this selfish measure that was only passed to score political points with Republican donors. That’s shameful. It’s time Congress got back to working for the good of all Americans, not just the wealthy few,” said Congresswoman Adams.”
Earlier this week, Congresswoman Adams introduced the Protecting Education and Pathways to Opportunity Tax Package which includes eight amendments to H.R. 1 aimed at increasing access to a quality education and opportunities for upward mobility for all Americans. This package was presented as an alternative to the cuts Republicans made to the programs students, veterans, and the middle class depend on. The House Rules Committee rejected all amendments to this bill, including Rep. Adams’, and moved it forward for a vote without any changes.
Rep. Adams’ proposed amendments included:
1. Reinstating the tax exempt status of private use bonds, used to build infrastructure and affordable housing;
2. Reinstating the student loan interest tax deduction, making higher education more affordable;
3. Repealing the tax on tuition waivers and student stipends, protecting student’s access to higher education;
4. Instating a provision that makes HBCU Tax Bonds exempt from federal, state, and local taxes, incentivizing investment in HBCU bonds and increasing access to capital at HBCUs;
5. Incentivizing the hiring of science, technology, engineering, and mathematics (STEM) graduates from minority serving institutions (MSI), creating pathways of opportunity for underserved communities;
6. Instating the Veterans Small Business Tax Credit, assisting veterans in becoming small business owners;
7. Repealing the tax on discharged student loans, releasing students from crushing student loan debt;
8. Repealing the tax on university and college endowments, increasing the capital available for investment in campus infrastructure and student scholarships.
