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Congressman Panetta Statement on the Passage of the House Tax Bill

November 16, 2017

WASHINGTON, DC – Congressman Jimmy Panetta (D-Calif.) released the following statement in response to H.R. 1, the 2017 tax bill, passing the House of Representatives:

"I am disappointed that the House of Representatives passed this partisan tax bill today. Should this bill be signed into law, families of all income levels on the central coast of California will be among the hardest hit in the nation. This bill eliminates many of the deductions that are critical to my constituents, including the medical expense deduction, student loan interest and lifetime learning credits deduction, and deductions for teachers who pay for classroom supplies out of pocket. It caps the state and local tax deduction at $10,000, far below the average $23,000 deduction claimed by over 177,000 households in California's 20th Congressional District each year, and eliminates the mortgage interest deduction claimed by 57% of local homeowners.

"I voted against this bill because it will hurt people who live on the Central Coast. The Majority party promised that H.R. 1 would give every American a tax cut. That is not true, and many on the Central Coast could end up paying more in taxes than they do already.

"True reform of the American tax code must be a collaborative, bipartisan effort. I hope that the Senate comes together to reject this bill, and creates a bipartisan tax plan that is fair for all Americans."