Louise Line: Looking out for hard-working families
Last week, House Republican leadership released their long-awaited tax bill. This proposal was made public after months of secrecy and backroom negotiations. Despite all the hype, I believe this bill was not worth the wait.
Here’s what we know:
This proposal would hike taxes on middle-class and hard-working families, repeal the State and Local Tax Deduction program (SALT) that millions of New Yorkers rely on, impose new limits on mortgage interest deductions, and provide a massive giveaway to the wealthy and the corporations. It even puts student loan interest deductions on the chopping block, hurting education access for many young people. All this while adding to the national deficit by an estimated $1.5 trillion in just 10 years. Just like with their attempts to repeal the Affordable Care Act (ACA), the congressional Majority is jamming their tax bill through without a score from the nonpartisan budget office and without expert insight.
What’s worse is that the bill is not even finished yet. The Majority’s proposal contains placeholder text, so last-minute, dead-of-night changes can continue to roll in with little oversight.
I believe the American people deserve better than the half-baked plan the majority cooked up and revealed last week. Congress must work together on a bipartisan solution that puts hard-working families first, creates better jobs, wages, and a better future. I will keep fighting to do just that.