11.16.17

Reaction Of Appropriations Vice Chair Patrick Leahy (D-Vt.) To The House-Passed Tax Bill

. . . “A hodge-podge collection of broken promises to middle class Americans”

The House has passed a hodge-podge collection of broken promises to middle class Americans.  Republican leaders and President Trump promised  to close loopholes for large corporations and the wealthiest Americans to pay for lowering their tax rates.  Instead, their tax rates would be cut, and the loopholes remain, meaning even lower effective tax rates for the wealthy, while exploding the federal debt. 

Vermonters would pay more by losing deductions for state and local taxes, by losing deductions for school loan interest payments and by losing deductions for medical expenses. 

This bill, produced by a handful of Republicans, behind closed doors, delivers huge tax breaks for corporations, padding corporations’ already bulging coffers, and it gives short shrift to ordinary Americans.  There certainly are ways to do tax reform in the right way, through a bipartisan process, to truly benefit middle income families and to spur new investment, but this plan has missed that boat. 

Press Contact

David Carle: 202-224-3693