Issue Report ● GOP Tax Law
For Immediate Release: 
July 11, 2018
Contact Info: 
Mariel Saez 202-225-3130
This morning, Speaker Ryan and House Republicans unveiled their latest attempt to sell the American people on the idea that they are “better off now.” Republicans have controlled all levers of government for over eighteen months, and their only accomplishment to date is enacting a tax law that provides 83% of its benefits to the top one percent of Americans. So Speaker Ryan’s latest claim begs a number of questions:  

Have jobs been created faster under President Trump than President Obama? NO.

President Trump promised “jobs, jobs, jobs,” but job creation over the past 17 months has slowed:
  • President Obama’s last 17 months averaged 20,000 more new jobs per month than President Trump.
  • Right now, the U.S. has seen 93 consecutive months of job growth, dating back to October 2010. The first 76 months were during President Obama’s Administration and resulted in 15 million jobs.
Is household net worth increasing faster? NO.
Household net worth increased faster in the eight years under President Obama than it has since.
  • Household net worth went from $55 trillion to $94 trillion under President Obama, a 71% increase.
  • Household net worth under President Trump has increased just 7%.
Are working Americans’ wages growing? NO.
The White House promised Americans a $4,000 raise as a result of the GOP tax law. What actually happened? Is the economy growing faster? NO.
The White House promised GDP growth would increase to as much as 6%. But in fact: Are average Americans seeing the benefits of the GOP tax scam? NO.
Instead of raising wages and creating jobs, the wealthiest and large corporations are seeing massive benefits. Is the nation on a more fiscally sustainable path? NO.
Republicans added $1.8 trillion to the deficit and made Medicare insolvent earlier: Are Americans paying less for health insurance? NO.
As a result of the GOP tax law and numerous actions taken by the Administration to sabotage the Affordable Care Act, we are seeing higher health care costs, lower quality, and more uninsured Americans.
  • Premiums soared an average of 30% in 2018 due to GOP sabotage.
  • The GOP tax scam is likely to raise premiums another 10%, according to the CBO.
  • TransUnion Healthcare found consumers paid 11% more in out-of-pocket costs last year.
  • According to the Commonwealth Fund, nearly 15.5% of American adults are uninsured, a 4 million person increase from 2016, and the CBO indicates 13 million Americans could become uninsured following the GOP tax scam.
While Republicans continue to give Americans a raw deal, House Democrats are offering the American people A Better Deal: Better Jobs, Better Wages, Better Future.

Click here to read the PDF. 

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