Hoyer Discusses the GOP Tax Scam on CNBC's Squawk Box

Statement

House Democratic Whip Steny H. Hoyer (MD) joined CNBC's Squawk Box this morning live from the Capitol on Tax Day to discuss the GOP Tax Scam. Below are excerpts from the interview and a link to the video:

Click here to watch the full interview.

"Paul Ryan talked about… the family of four, the average family, he said on the Floor, [making] $59,000. [He said] we really need to take care of them, and they get $23 a week [under the law]. But the [wealthy American] you're talking about gets about $1,100 per week. So it was a bill that was skewed heavily, 83%-17%, to the wealthiest in America and to the corporations. We believe, as you well know, Joe and Becky, that we needed to bring the corporate rate down. Obama said that in one of his State of the Union messages. We need to be competitive… But frankly the folks making $900,000 a year, they did not need a tax break and it's not going to grow the economy, but what it did was take so much of the resources that the struggling families that Paul Ryan talked about on the Floor are getting a very small sum, which is really not going to help them and bring our economy up as it should.

"Well, first of all, we want to invest in growing jobs. We talked about infrastructure, that's one way to do it. We talked about jobs skills for the 21st century, that's another way to do it. I'm sure we'll look at some of those resources that are going to people who are not going to use them to grow the economy and invest."

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