GOP To Fast-Track Secretive Tax Plan

This week House Republicans plan to vote on a budget that will fast-track a massive tax giveaway to wealthy corporations and the top 1% at the expense of hardworking families. Republicans have been lying about their tax plan and working behind closed doors to try and keep it a secret, because they know how unpopular their tax proposals are.

Trump and Republicans have been lying about the impacts of their tax plan – workers will ultimately bear the costs.

Former White House Council of Economic Advisers Chairman Jason Furman: “But the current plan falls short on all of these counts—and it is workers who will ultimately bear the cost of the White House’s wild claims.”

Former Treasury Secretary Larry Summers: “There has been a lot of back and forth, but notably no one has defended the $4,000 claim as a “very conservatively estimated lower bound,” let alone endorsed the plausibility of the $9,000 claim.”

As they did with health care, Republicans are working behind closed doors to draft a secret tax plan because they know how unpopular it will be.

Politico: “So far, lawmakers have mostly emphasized all the easy parts of rewriting the tax code — the taxes that would be cut. But the sort of overhaul Republicans are talking about comes with losers too, and who exactly would get screwed under the GOP plan has been a closely guarded secret as lawmakers try to keep lobbyists off-balance.”

New York Times: “Almost no one on or off Capitol Hill has seen the tax overhaul bill that Republicans are drafting behind closed doors…Yet party leaders are preparing to move ahead on a timeline even more aggressive than their unsuccessful attempts to repeal and replace the Affordable Care Act.”

Business Insider: “A significant factor in the downfall of the repeated attempts to repeal and replace Obamacare was the Senate's intent on not passing legislation through the regular order, instead bypassing the 60-vote threshold in favor of the reconciliation process. Republicans are now employing the same tactics, with a handful of small changes, to tax reform.”

Once again, Republicans are putting politics over the people they are supposed to represent.

NBC News: “The GOP Is Wrestling With Tax Politics — But What About the Policy?”

NBC News: “But that focus on the tax plan’s electoral politics — when the midterm cake is already being baked — ignores the more important policy questions right now. Will the GOP tax plan really RAISE taxes on middle-class and upper-middle-class Americans? Given that the initial plan eliminates personal exemptions (replaced by a larger standard deduction), the nonpartisan Tax Policy Center said one-quarter of American taxpayers would pay higher taxes by 2027, including 30 percent with incomes between $50,000 and $150,000 and 60 percent of those making between $150,000 and $300,000.”