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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Wanted to make sure you saw this new poll from CBS News, which shows that Americans are not buying what Congressional Republicans are selling.
Mr. Speaker, we should not shut down the government of the United States.
Greenspan: Tax overhaul will do 'very little' for growth
It takes some nerve to vote to add $1.7 trillion to the national debt and then turn around and say we really need to get a handle on the debt and the deficit.
The government shuts down in two days and Republicans are deeply divided on a path forward.
It’s another broken promise from the President on the GOP tax bill: while he claims that the GOP tax scam would not help him and his “wealthy friends,” that couldn’t be further from the truth.
This is what happens when you don’t know what’s in your bill before you pass it in the middle of the night: the bill is “riddled with bugs, loopholes, and other potential problems.”
It seems Republicans have returned to the same, tired playbook we’ve seen before: rail against the deficit, pass tax cuts that don’t yield economic growth and add trillions of dollars to the debt, and then demand cuts to Medicare and Social Security. So much for President Trump’s promise that he wouldn’t touch these critical programs.
I thank Mr. Neal for yielding. The gentleman from Pennsylvania, as he well knows is one of my favorite Members. He's a good friend, he is a man of great integrity.
Thank you very much, Leader. Every Republican Leader in the House and in the Senate, for years, has been saying the debt is a, the biggest problem confronting our country.