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.
GOP Tax Law Related
Wanted to be sure you didn’t miss this important look at how skewed the GOP tax law is toward the wealthiest in America while leaving the middle class behind. The Washington Post Wonkblog walks through a new Tax Policy Center report on how the wealthiest 1% of Americans are seeing thousands of dollars in tax breaks while working families will not see even 1/20th of the benefits of the law.
President Trump promised to Make America Great Again, but he has failed to take meaningful action to support job creation, raise wages, or reduce the deficit. The actions being taken by the Trump Administration are injecting great uncertainty into our economy and undermining confidence in America.
Today, Washington Post’s WonkBlog walks through how easy it is for companies to exploit the GOP tax law – further decreasing government revenue, exploding the deficit, and leaving middle-class families without tax lawyers behind.
This week, House Democrats stood with students in Washington, DC and across the country who stepped out of their classrooms and into democracy to demand bipartisan, commonsense measures to prevent gun violence.
The GOP tax scam, jammed through Congress in under two months by Republicans, with no public hearings and limited review, stacks the deck against America’s middle-class families while giving enormous tax cuts to corporations and the wealthy.
Another day, another report about just how skewed the benefits of the GOP tax scam are towards the wealthiest Americans and corporations.
As President Trump and Congressional Republicans tout their #GOPTaxScam, news reports continue to show that corporations and the wealthy are seeing a huge payday thanks to the law while workers are left behind. Despite the GOP’s promise that the law wouldn’t benefit the wealthy, the numbers tell a different story. Take a look:
Just two months after the GOP tax scam was jammed through Congress, companies are already seeing billions of dollars in profits - and sharing them with their wealthy investors - while most middle class Americans aren’t seeing any real benefit to them.
We’ve all heard Republicans touting news reports of companies offering bonuses for workers, but it’s becoming increasingly clear that the real winners under the GOP tax scam are corporate shareholders and the bonuses were just a fig leaf.