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There is a great deal of work in front of us and I hope that today’s hearing can provide some perspective on the economic challenges and opportunities before policymakers. I am deeply concerned that the Trump administration has done little to support working families or build a stronger economy. Instead, the administration has turned its attention to a tax plan that will deliver significant tax cuts to the wealthy and force working families to foot the bill.
Though plenty has changed in the decades since Warren began teaching law, affordable, high-quality child care remains one of the most significant challenges for working parents. According to a recent report from the Democratic staff of the Congress Joint Economic Committee, American families spend an average of 15 percent of their income on child care—and in states like California, New York, Arizona, Colorado, and Oregon, it's not uncommon for that total to hit the 20 percent mark.
I am deeply disappointed that Republicans voted for a budget that slashes Medicaid and Medicare, and cuts critical services that invest directly in our communities. This budget ignores our current reality and makes it tougher for American families to afford a college education or access quality health care coverage.
“I rise to oppose this deeply flawed budget that is bad for America and especially harmful to working families,” said Ranking Member Heinrich. “The Republican plan we face today is a budget-busting first step toward issuing massive tax breaks to special interests and wealthy individuals. This proposed budget fails to improve economic growth or to drive up wages.”
As we continue to celebrate Hispanic Heritage Month, Joint Economic Committee Democrats and the Congressional Hispanic Caucus today released a fact sheet on the “Economic State of the Latino Community in America.” The fact sheet outlines the latest statistics on the economic well-being of the nation’s Latino community, including population, employment, and earnings statistics, and other key indicators.
Heinrich currently serves as a member of the Senate Joint Economic Committee. He argues that 40 million households will see their taxes increase because the plan threatens to eliminate what are known as state and local tax (SALT) deductions. SALT deductions allow taxpayers who itemize to deduct some of their local taxes on their federal taxes.
Sen. Martin Heinrich (D-N.M.), ranking member of the Joint Economic Committee, said that the "job numbers underscore the gravity of the task at hand — to rebuild families’ lost homes, businesses, and communities in the wake of the devastating hurricanes."