The Republican Tax Plan
January 16, 2018
December 4, 2017
Senate Conservatives passed what I think is a disastrous tax proposal that will be nothing but a giveaway to the rich and powerful. I believe this bill is dangerous and will wreak havoc for middle-class families, students and teachers, veterans, and millions more. Despite promises to the contrary, it’s clearer than ever that this legislation is a scam that will raise taxes on tens of millions of middle class families in order to hand deficit-exploding giveaways to the wealthy and corporations that ship jobs overseas. Here’s what you need to know:
- Middle-class families will bear the brunt of this bill: 82 million middle-class households will see a tax hike in the next 10 years.
- Large corporations and the wealthiest Americans are spared: Those earning $1 million or more would see a $5.8 billion tax cut in the next 10 years.
- The tax proposal will explode the national deficit: Both the Joint Committee on Taxation and Congressional Budget Office found the bill will add more than $1.4 trillion dollars to the deficit over the next 10 years.
- Funding for Medicare and essential community services are slashed: The Senate bill will mandate a $25 billion cut to Medicare next year alone and a $111 billion cut to national priorities like student loans and border security.
This isn’t the first time America has tried trickle-down economics. It didn’t work under President Reagan. It didn’t work under President Bush. And it certainly didn’t work in Kansas. There is a word for doing the same thing over and over again while expecting a different result: insanity.
In my opinion, this bill is a reckless move that will hurt hard-working families, put our nation further in debt, and harm economic growth. This process isn’t over yet. House and Senate Republicans will come together to iron out differences between their bills. I will continue to raise my voice in opposition to this plan, because I believe that Monroe County families deserve better.