Press Release
Posted:
Washington, DC – Today, Congressman Mike Thompson (CA-05) released this statement following the introduction of the House Republicans’ tax bill which would add trillions of dollars to our national debt:
“For years, I have worked for responsible and bipartisan tax reform that is built from the middle class out. The tax proposal that House Republicans have unveiled today could not be further from these principles. The proposal they’ve introduced favors corporations over middle class families and gives tax breaks to the wealthiest among us, adding $1.5 trillion to our debt, sending the bill to our kids.
“This Republican plan would make sweeping, irresponsible changes to our nation’s tax code. No hearings are scheduled, no expert witnesses will be heard from—nothing. And they’re calling for a vote next week. They’re hoping they’ll be able to quickly jam this through the House, simply to gain a political win.
“This is unacceptable.
“Let’s be clear about what this bill is: it’s a plan that adds $1.5 trillion to our national debt to give tax breaks to wealthy and corporate interests. This is wildly irresponsible. Instead of building a tax plan from the middle class out, Republicans want to slash taxes for corporations and the wealthy at the expense of middle class families, and, in some cases, raising effective tax rates on middle class families. This bill would also repeal the State and Local Tax (SALT) deduction which would force Californians to pay more than their fair share in federal taxes. We are already sending more to DC than we get back—this makes it worse.
“I urge my Republican colleagues to drop this wrong-headed and backwards bill, and I, once again, invite them to work with both sides of the aisle on responsible tax reform that works for all Americans, not just the wealthy.”