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Congressman Tom McClintock

Representing the 4th District of California

Fiscal and Economic

More on Fiscal and Economic

April 27, 2018 Speeches
I have offered this amendment whenever the opportunity has presented itself, because it tests whether there is any program in the federal budget that Congress can bear to cut.
April 26, 2018 Speeches
In December, we adopted one of the most important tax reform laws in our nation’s history. It is producing higher wages, better job opportunities, and greater economic expansion than we’ve seen in a decade. But having cut taxes, we assumed an urgent responsibility to restrain spending. Taxes and debt are two sides of the same coin. A debt is simply a future tax. Once we’ve spent a dollar, we’ve already decided to tax it, either now or in the future. It’s the spending that’s the problem.
April 10, 2018 Speeches
It’s important to ask ourselves how the tax reform is doing, and I thank my colleague for organizing this time tonight. In my district, the average family is paying $1,900 LESS federal income tax this year – which means $1,900 MORE they can spend to meet their needs.
March 22, 2018 Vote Notes on Legislation
This is the $1.3 trillion “Omnibus” bill that increases discretionary spending a staggering 18 percent in a single year, puts us on course for a trillion dollar deficit next year and sets the stage for a sovereign debt crisis within the next few years.
February 22, 2018 Speeches
For years, I’ve only been able to report to you what we SHOULD be doing to revive the economy. Today, FINALLY, I can report to you what we HAVE done – and THAT it is working.
February 9, 2018 Vote Notes on Legislation
This measure abandons any pretense of fiscal responsibility and increases federal spending caps by nearly $300 billion ($2,400 per household) over the next two years. It sets up a structure that will allow Congress to bypass its own budget rules...
January 18, 2018 Speeches
With the bill now taking effect, I believe people are about to see their paychecks grow, their job prospects brighten, and their family finances improve.
December 19, 2017 Speeches
I opposed the House version of the tax reform bill because the loss of broad-based deductions like state and local taxes would have caused significant tax increases on many of my middle-class constituents in the high-tax, high-cost state of California. It increased the marginal tax rate on high income earners and abolished life-line deductions such as casualty loss, medical expenses and student interest. I urged that we should leave no taxpayer behind. I want to thank Chairman Brady, the Republican Leadership and the conference committee for heeding these concerns. Their final product exceeds my expectations, and on behalf of California taxpayers I can now offer my enthusiastic support. The new version leaves the casualty loss, medical expense and student interest deductions intact.
November 16, 2017 Vote Notes on Legislation
This Vote Note refers to the earlier House version of the tax reform legislation. The Congressman supported the final version of the bill, and he discussed his support in House floor remarks titled Morning Again in America.
November 15, 2017 Speeches
This amendment assures that the tax reform bill leaves no taxpayer behind. It retains all the provisions on C-corporations and pass-throughs that are desperately needed to produce the kind of economic growth that our country is capable of. It strikes the provisions in the bill that change the personal income tax code and replaces them with a permanent, one percent across-the-board reduction in the rates in every bracket. This should fit within the existing budget authority and save an average family about $600 per year on their taxes.