Republican Tax Law Shortchanges Workers & Our Economy

GOP Tax Law
Republicans enacted partisan legislation that provides massive tax breaks to the wealthiest while leaving middle-class families behind and adding trillions of dollars to the deficit.
Instead of working with Democrats on bipartisan, comprehensive tax reform, Republicans enacted partisan legislation that neither helps the middle class nor promotes fiscal responsibility.  Their tax law provides massive tax breaks to the wealthy and big corporations while raising taxes on everyone else after the first few years.  83% of the benefits of this law go to the wealthy and corporations; only 17% goes to working families.  Moreover, the GOP tax law contributes to raising the deficit by more than a trillion dollars every year for the next decade.
 
Republicans jammed their legislation through Congress without hearings or allowing Americans to provide input about how it shortchanges middle-class families.  Now that it has been enacted, everyone can see that it hasn’t dramatically benefited the middle class or small businesses and that it’s bringing further strain to our nation’s finances, which Republicans will use to justify slashing Social Security, Medicare, and Medicaid.
 
Democrats will continue working to promote the principles of fair, bipartisan tax policies that benefit the middle class and don’t explode the deficit.  Furthermore, as Republicans now turn to their plan to gut Social Security, Medicare, and Medicaid in order to offset the deficits their tax law created, Democrats will stand firm in defending these programs so they can benefit Americans today and in the future.
GOP Tax Law Related
That was quite the rant from Rep. Duffy at today’s Financial Services Committee hearing, but here in the real world, this is how much more the wealthiest Americans in WI-07 see from the tax scam:


6/20/18
At today’s Financial Services Committee hearing, we’re seeing Republicans argue once again that stock buybacks benefit everyone.
6/20/18
We expect to hear a whole lot of spin from Chairman Hensarling at today’s hearing on the GOP tax scam, including its effects on wages, consumer demand, business expansion and investment, and American competitiveness.
6/20/18
This week marks six months since the GOP tax scam was signed into law, and the conservative-leaning Tax Foundation has released an interactive map to show the impact of the GOP tax law on individuals.
6/19/18
It’s nearly six months since President Trump signed the GOP tax scam into law, and the American people still aren’t buying what Republicans are desperately trying to sell.
6/18/18
This week, the House considered legislation related to the opioid epidemic, which is a major public health crisis across our nation that demands bipartisan cooperation and leadership across all levels of government.
6/15/18
Remember when Republicans promised their tax scam law would lead to a $4,000 raise? Well, we’re nearing the six month mark and here’s the reality from the Washington Post:
6/15/18
This week, House Republicans brought two deeply flawed bills to the Floor. The first was their hypocritical rescissions package, which would rescind funding for priorities like children’s health in an attempt to look fiscally responsible.
6/8/18
SHOT:
 
6/8/18
First, let me say, I heard the Gentleman from Georgia’s argument that this money wasn't needed.  I heard that argument a month ago: Ebola money was not needed.  Guess what?  Ebola money was needed.
6/7/18
Nearly six-months after the GOP tax scam was enacted, Americans are seeing the negative impacts of the law:
 
6/7/18
This week, House and Senate Democrats unveiled the newest plank in our Better Deal agenda: “A Better Deal for Our Democracy.”  Too many Americans have come to see government as dysfunctional and ineffective at making opportunities more broadly available. 
5/25/18