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.
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Yesterday, Republicans left town after once again kicking the can down the road and failing to address the priorities of the American people.
The only person who has talked about shutting down the government in the last four months has been President Trump himself.
As you know, 83% of the $1.5 trillion in deficits will be going to the top 1% in America and 17% to everybody else…
Clearly what we've seen, this is another kicking the can down the road.
As Republicans celebrate their GOP tax scam at the White House, we wanted to be sure you saw this quote in today’s Daily 202 from American Action Network Executive Director Corry Bliss:
We’re going to take a minute this morning to clear something up for Speaker Ryan who said “nobody knows” if the #GOPTaxScam will pay for itself.
The main issue is this is a bad bill, a bad bill for our country. It's going to create great debt. And it's perverse in the sense that it gives some 83% of the tax cuts to the wealthiest in America.
In their headlong rush to jam their partisan and unpopular tax legislation through Congress, Republicans wrote a bill that hadn’t even been read carefully enough to ensure it complied with Senate procedural rules.
Mr. Speaker, history will indeed remember this vote. Future generations of Americans will remember who cast their votes to raise taxes on 86 million middle-class households and heap another $1.5 trillion in deficits onto our children and grandchildren. They will remember who cast their votes for a plan that gives 83% of its benefits to 1% of the American people.
Today, Republicans will vote on their GOP tax scam conference report. After writing the conference report in secret behind closed doors, Republicans are rushing it to the Floor in a clear effort to hide what’s in it from the American people.