GOP Tax Law
Republican Tax Law Shortchanges Workers & Our Economy
Instead of working with Democrats on bipartisan, comprehensive tax reform, Republicans enacted partisan legislation that neither helps the middle class nor promotes fiscal responsibility. Their tax law provides massive tax breaks to the wealthy and big corporations while raising taxes on everyone else after the first few years. 83% of the benefits of this law go to the wealthy and corporations; only 17% goes to working families. Moreover, the GOP tax law contributes to raising the deficit by more than a trillion dollars every year for the next decade.
Republicans jammed their legislation through Congress without hearings or allowing Americans to provide input about how it shortchanges middle-class families. Now that it has been enacted, everyone can see that it hasn’t dramatically benefited the middle class or small businesses and that it’s bringing further strain to our nation’s finances, which Republicans will use to justify slashing Social Security, Medicare, and Medicaid.
Democrats will continue working to promote the principles of fair, bipartisan tax policies that benefit the middle class and don’t explode the deficit. Furthermore, as Republicans now turn to their plan to gut Social Security, Medicare, and Medicaid in order to offset the deficits their tax law created, Democrats will stand firm in defending these programs so they can benefit Americans today and in the future.
Republicans jammed their legislation through Congress without hearings or allowing Americans to provide input about how it shortchanges middle-class families. Now that it has been enacted, everyone can see that it hasn’t dramatically benefited the middle class or small businesses and that it’s bringing further strain to our nation’s finances, which Republicans will use to justify slashing Social Security, Medicare, and Medicaid.
Democrats will continue working to promote the principles of fair, bipartisan tax policies that benefit the middle class and don’t explode the deficit. Furthermore, as Republicans now turn to their plan to gut Social Security, Medicare, and Medicaid in order to offset the deficits their tax law created, Democrats will stand firm in defending these programs so they can benefit Americans today and in the future.
GOP Tax Law Related
President Trump’s FY2021 budget is replete with dangerous proposals that leave working families to fend for themselves in a changing and uncertain economy. This budget makes the President’s priorities clear: the wealthiest Americans come first ahead of working Americans who are trying to get by and get ahead.
The President campaigned on numerous promises to the American people, and four years into his presidency, he is letting the American people down on pledge after pledge. Ahead of tonight’s State of the Union Address, here’s a look at what the President promised he would deliver to the American people and how he has fallen short with policies that put the wealthiest ahead of working families:
Tax cuts have never paid for themselves, but that’s not stopping the Trump Administration from repeating that falsehood over and over again.
As we mark Tax Day, millions of Americans have been left behind by the Republican tax scam enacted last year.
…But can we all just disabuse ourselves of the notion of Republicans as fiscal conservatives now?
It’s tax filing season, and the American people are seeing the impact of the GOP tax scam in the form of smaller tax refunds.
We’re old enough to remember when Republicans said their tax scam would “simplify” the tax code.
Remember when Republicans said their tax law would spark a wave of business investment that would create jobs and raise wages?
President Trump: “TAX CUTS will increase investment in the American economy and in U.S. workers, leading to higher growth, higher wages, and more JOBS!” [Tweet, 12/16/17]
President Trump: “TAX CUTS will increase investment in the American economy and in U.S. workers, leading to higher growth, higher wages, and more JOBS!” [Tweet, 12/16/17]
Remember when Republicans said their tax law was for the middle class? Here’s how that is holding up:
President Trump’s choice of Mick Mulvaney as acting Chief of Staff is a deeply troubling indication that he is choosing confrontation over compromise.