House Minority Leader Nancy Pelosi dissed the GOP and new tax bill, accusing them of bleeding “the middle class dry” and catering to the wealthy.
She said, “The tax breaks for corporate America are vast and permanent, and our children will be paying the price for years.”
This was in rebuttal to Trump’s comments on Friday when he said, “All of this, everything in here, is really tremendous things for businesses, for people, for the middle class, for workers,” as he signed the bill.
Pelosi claims that the tax cuts are only “meager and temporary,” and gives “insulting crumbs” to working class citizens. It’s interesting that she slams the cuts, which will lower individual income tax rates. Why is she so set against people keeping more of their hard earned money?
Those cuts affected multiple income levels, including the top individual rate, which saw a 2.6 percent rate cut. Corporations got a substantial cut — from 35 to 21 percent — after Republicans railed against the former rate’s impact on international, economic competitiveness.
While it’s unclear how much the bill will cost, the Congressional Budget Office (CBO) estimated that earlier versions would deepen the deficit by more than $1 trillion.
Republicans countered cost concerns by arguing that tax cuts would spur economic growth, bringing more money into the Treasury.
In a Thursday tweet, Trump suggested that Democrats acknowledged tax reform’s appeal and sought a government shutdown to distract from the bill’s success.
Trump tweeted, “House Democrats want a SHUTDOWN for the holidays in order to distract from the very popular, just passed, Tax Cuts. House Republicans, don’t let this happen. Pass the C.R. TODAY and keep our Government OPEN!”
House Democrats want a SHUTDOWN for the holidays in order to distract from the very popular, just passed, Tax Cuts. House Republicans, don’t let this happen. Pass the C.R. TODAY and keep our Government OPEN!
— Donald J. Trump (@realDonaldTrump) December 21, 2017
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