(CNSNews.com) - House Minority Leader Nancy Pelosi was pressed by two reporters at an event in San Francisco on Wednesday to address the fact that many Americans are beginning to believe that the tax cut law that President Donald Trump signed in December has turned out to be a good deal for them.
“Yes,” she admitted at one point, “people are getting a little more in their paychecks.”
Pelosi twice conceded during the event that the tax-cut law was in fact a tax cut, but then she lamented what she described as cuts in federal entitlement programs and an increasing federal debt.
According to a transcript of the event published by Pelosi's office, a reporter from KCBS radio asked her: “This tax bill--working people are getting more money in their paychecks--what’s wrong with that?”
“Thank you for that question,” she said. “As I said, we recognize that some people are getting a little bit more. But there is a banquet out there for the high-end and that’s just not right. While they are getting a little bit more, they are getting things taken away and that’s what we will see. They put this little goodie in there for people to say, ‘This is the greatest thing’, but at the same time, they took away things.
“In our state of California, they have harmed us greatly by taking away the SALT, the state and local tax deduction,” she said.
“Now this is about San Francisco and all over our state--it will lose tens of billions of dollars because of the loss of that deduction so, in many parts of our country they are not affected as much, they are affected by the budget--Medicare, Medicaid, Social Security, food stamps and the rest,” she said.
“Many of those people affected are our veterans--Meals on Wheels, food stamps,” she said. “Hundreds of thousands of our veterans are on Medicaid--not only from the VA--but Social Security, disability--all those other issues are Medicaid,” she said.
Later, a reporter from the San Francisco Chronicle asked Pelosi: “There was a story in the New York Times a couple of days ago that said people that didn’t like it originally are now seeing money and their paycheck and think it is a good thing. How do you deal with that movement? What do you have to tell them?”
“The point is, yes, as the gentleman from CBS said, yes, people are getting a little more in their paychecks, and there are tens of millions of dollars being spent by the Republicans to mischaracterize what this tax bill is,” said Pelosi.
“What the Republicans have told their members, do not talk about any subject except the tax bill,” she said. “But you cannot talk about the tax bill without talking about what it does to the budget.”
“If you get a little more out of your paycheck that is good, let us recognize that, that is good,” said Pelosi.
“But when it is offset and can really threaten the financial stability of your family,” she said. “And by the way, this is not a Democratic or Republican issue, this is about the United States of America. This tax bill is taking us deeply in debt. It is mortgaging our children’s future and why, to give a tax cut to the high end.”