DeLauro Condemns Republican Bill That Cuts Taxes for Corporations and Billionaires While Raising Taxes on the Middle Class
WASHINGTON, DC (November 2, 2017) - Congresswoman Rosa DeLauro (CT-03) released the following statement on the Congressional Republicans’ bill that would cut taxes for corporations, millionaires and billionaires while raising taxes on middle class families.
“The Republicans’ newly released tax plan is a giveaway to millionaires and billionaires. Democrats are fighting for an economy that works for all, not just the very richest. We need to create good paying jobs that cannot be outsourced, lower the cost of living for families by cracking down on corporate monopolies, and build an economy that enables more people to reach the middle class. This Republicans’ tax plan sham would take us further from these goals.”
“Instead of helping middle class families, this Republican plan spends most of its $1.5 trillion on cutting taxes for the wealthiest Americans and lowering the corporate tax rate. On its own that is completely outrageous. But Republicans did not stop there. They also reward corporations that outsource good paying jobs by allowing them to skip paying taxes on profits earned through their outsourcing. That outsourcing drives down wages and salaries here at home—hurting the middle class who works hard and plays by the rules.”
“This bill does not go far enough in expanding the Child Tax Credit. The Republican plan leaves out those who are struggling the most—military families, rural families, minimum wage workers, larger families, and those with the youngest children. Members of Congress and their families will now be eligible for the Child Tax Credit, while low income families are left out. Instead, we must expand the credit to lower income families and families with young children, as my Child Tax Credit Improvement Act would do.”
“We must do more to help hardworking families who are struggling to get by. I urge my colleagues to reject this proposal and prioritize tax relief for the middle class and our most vulnerable families instead of huge tax cuts for millionaires, billionaires, and corporations.”