Congressman Tim Ryan Assails Republican Tax Bill as Assault on Working Class Americans

Nov 2, 2017 Issues: Economy

Washington, DC – Congressman Tim Ryan released the following statement in response to the newly released Republican tax proposal.

“It should come as no surprise that the legislation Republicans revealed today falls far short of the meaningful tax reform hardworking Americans were promised. Instead of fixing our broken tax system, their idea of ‘reform’ relies on the same supply-side, trickle-down economics that has failed in the past. Despite years of Republicans lecturing about fiscal responsibility, they readily admit that their plan will add $1.5 trillion to the national debt. It gives huge tax cuts to wealthy elites—those who reaped the most benefit from our economic recovery—on the backs of a squeezed and struggling middle class. Most devastating for working-class Americans, the Republican plan will provide tax breaks for large corporations to move their operations overseas.

“I have said previously that Republicans and Democrats have an opportunity to work together on tax reform, to make taxes simpler, fairer and more competitive. Instead of taking advantage of this opening, Republicans have created a tax structure that benefits themselves, their wealthy donors, and—not surprisingly—President Trump himself. I won’t stand for it. These tax breaks for millionaires and billionaires will blow a massive hole in our deficit and will mean drastic cuts to important programs that give a much-needed hand up to hardworking families who want a fair shot at the American Dream. This tax plan will not make America great. It will make America worse for everybody who is not already rich,” said Congressman Ryan.