‘The Tax Cut and Jobs Act’: GOP vs. Reality
“It is a fact that the first $55,000 you earn for a family of four will not pay any tax. So, it is a tax cut for the middle class.” – House Majority Leader Kevin McCarthy
Despite Republicans’ empty promises to cut taxes for middle class working families, it’s clear that the GOP tax plan for the wealthiest is rich indeed.
House Republicans’ tax bill would increase taxes for 12 percent of Americans next year, according to a new report from the nonpartisan Tax Policy Center. By 2027, at least 28 percent of Americans would see their taxes rise, the report says. Many of those taking a hit would be people who make less than $48,000 a year.
The House Republican tax bill would cause nearly 28 percent of taxpayers to pay more by 2027, according to a new analysis by the widely respected, nonpartisan Tax Policy Center.
The truth is already catching up with the GOP’s snake oil pitch. Instead of pushing a deficit-exploding handout to corporations and the wealthy that increases taxes on millions of hard-working families, Republicans must join Democrats to work on bipartisan tax reform that puts the middle class first.