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.
Related
Attention reporters who have been covering the deep concerns over how Republicans will handle SALT in their tax bill: if you’re wondering how their bill is being received, check out what Americans Against Double Taxation had to say.
It is clear from the outset that the Republican bill to cut taxes for the wealthy and increase deficits by as much as $1.5 trillion – while eliminating many tax preferences that middle-class families rely on – will face serious hurdles in Congress.
As Republicans unveil their tax bill this morning, a quick reminder that this is the first time many of their own members are seeing it.
Before they unveil their tax bill, someone should probably tell Republican leaders that not everyone in their conference is on board with it.
While Republicans are in their conference meeting giving Ways and Means Committee Chair Kevin Brady a standing ovation, we wanted to be sure you saw this New York Times article detailing how House Republicans will release their bill today with placeholder text instead of confronting the fact that their math still isn’t adding up.
Similar to their TrumpCare efforts, House Republicans are once again trying to jam a partisan bill through Congress without any input from the American people.
Mr. Speaker, I have been here, this is my thirty-seventh year.
This week, Republicans are rushing the Senate-passed budget resolution to the Floor – instead of going to conference – in order to speed up the process of passing legislation to give tax cuts to the wealthy.
Last week, House Republicans unveiled their partisan tax reform framework that will cut taxes for the wealthy while leaving the middle class behind and exploding the deficit.