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
Here’s a friendly reminder for our friends on the other side of the aisle – like Rep. Roskam at today’s Ways and Means subcommittee hearing – who are touting stock buybacks as good for the economy:
For the second week in a row, Republicans seem to believe that they can rebrand a tax law that advantages the wealthy over the middle class with a Congressional hearing packed with cherry-picked witnesses.
As today’s Ways and Means subcommittee hearing gets underway on the GOP tax scam’s impact on small businesses, we here at the ever-helpful Dem Whip Press Shop put together some questions for our colleagues across the aisle:
We know President Trump doesn’t think through the consequences of his policies, and here’s the latest example – his actions that are driving up gas prices are wiping out whatever tax benefits Americans are seeing.
Are companies that are benefitting from the tax law investing in workers? Are they raising wages?
Workers laid off. Investors rewarded. Jobs shipped overseas.
Thanks to the GOP tax scam, corporate America is throwing a “record-setting party” for wealthy investors – not hiring workers or raising wages.
Today, the House once again witnessed the Republican Majority’s inability to govern when they failed to pass their partisan Farm Bill today.