Congressman Tim Ryan Statement on Republican Tax Bill
Washington, DC – Congressman Tim Ryan made the following statement after Congressional Republicans released their compromise tax legislation.
From day one, President Trump and the Republicans in Congress have lied to the American people about the impact of this abhorrent tax legislation. This bill will increase taxes on half of all Americans, decrease long term economic growth, and send our national debt skyrocketing – all to give companies like Apple a $47 billion tax break. Today, 63% of families could not withstand a $500 emergency. We have pensions collapsing and communities that have been wiped out, and yet the GOP plan to fix all of this is to raise taxes on 82 million middle class families. To make matters worse, we are going to need to borrow huge sums from China to give tax breaks to these corporations already making record profits, and inflict further pain on the middle class by cutting Social Security, Medicare, Medicaid, education, and other important programs Americans rely on. This bill weakens our country and will make it impossible for us to grow our economy, lift wages, and secure pensions for American families.