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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Friday's analysis from the nonpartisan Congressional Budget Office (CBO) reveals Republicans' rescission argument for the charade it is.
This week, Americans continued to see the impact of Republicans’ efforts to sabotage the Affordable Care Act.
Republicans said their tax law would grow the economy and put money back in the pockets of working Americans, but evidence shows that wages aren’t increasing fast enough to outpace climbing health care, gas, and food costs, eroding any positive impact of the tax cuts.
When you’re bribing Members with Jelly Bellies, you know there’s a problem.
Today’s can’t miss headline: U.S. Lifts Debt Sales as Deficit Grows, Plans 2-Month Bills
This can’t be what Republicans we’re hoping for, but it comes as no surprise given that their tax law gives 83% of the benefits to the top 1% of Americans. New polling from Morning Consult/Politico shows more than half of Americans surveyed haven’t seen a boost in their pay check and opposition to the law is increasing.
Republicans jammed their bill through Congress to prevent the public from fully understanding what’s in it – and polling from the National Association for the Self Employed (NASE) today shows that they still don’t.
A new report released yesterday by the Joint Committee on Taxation is further proof of what we’ve been saying all along: the GOP tax law is a giveaway to the wealthy.
Tax Day was this week, and I joined House Democratic colleagues in discussing how the Republicans’ tax scam gives enormous tax cuts to the wealthiest at the expense of the middle class and our nation’s deficit.