Warren Statement on Trump Tax Reform Proposal
GOP Plan "Delivers Massive Tax Cuts to Millionaires and Giant Corporations and Kicks Working Families to the Curb"
Washington, DC - United States Senator Elizabeth Warren (D-Mass.) released the following statement on congressional Republicans' and President Donald Trump's tax reform proposal announced today:
"The 'new' Republican tax plan is the same warmed-over, trickle-down plan they've been pushing for decades. It delivers massive tax cuts to millionaires and giant corporations and kicks working families to the curb. While the plan slashes the income tax rate for the highest earners, it actually increases the income tax rate that applies to many working families. The plan gets rid of the state and local tax deduction that millions of working families rely on, while repealing the estate tax that applies only to a handful of the wealthiest families in the country. And the plan will explode the deficit, which - I guarantee you - will lead Republicans to turn around and say we need to gut Medicaid, Medicare, and investments in infrastructure, research, and education.
"Not one penny in tax cuts for the wealthy and giant corporations - especially not on the backs of everyone else. We will fight back against this GOP tax plan."
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