GOP Tax Bill: Middle Class Gets Tricked, Billionaires Get Treats
The day after Halloween, House Republicans are expected to unveil their trick-or-treat tax bill: A trick to raise taxes on middle class working families, while handing a multi-trillion dollar treat in tax cuts to the wealthy.
With key sections missing and vital questions still unanswered, the GOP is hoping to race massive changes into law before the American people see the truth about their tax and budget agenda:
- Raises Taxes on the Middle Class
- Borrows Trillions from the Future to Give Tax Cuts to the Wealthiest
- Budget Ransacks Medicare & Medicaid
With the help of some alternative math, White House Press Secretary Sarah Huckabee Sanders declared that the average American family “would get a $4,000 raise” under Trump’s proposal. House Speaker Paul D. Ryan (R-Wis.) said the proposal is about helping families who live paycheck to paycheck. Trump himself has called his plan a “middle-class bill.”
None of these things is remotely true.
This would be a bonanza for the richest people in the world but a disaster for the rest of us. Average Americans would end up footing the bill as the government cuts spending on education, health care, and the environment to close the deficit caused by the corporate tax cuts.
And that’s not all. Earlier today, Ways and Means Chairman Kevin Brady said Republicans will eliminate the deduction for state and local income and sales taxes – relied on by America’s middle class families – as part of the Ryan-McConnell tax bill, showing the fundamental rottenness at the core of their tax bill.
Republicans should abandon their broken middle class tax hike bill, and work with Democrats for real bipartisan tax reform that puts the middle class first and delivers A Better Deal to the American people.