Ahead of the release of Speaker Ryan’s and establishment House Republicans’ corporate tax cut plan, the Democratic Congressional Campaign Committee released the following statement:
“Whatever backroom deals Speaker Ryan and establishment Republicans cut to buy a few extra votes, at its core this tax plan is a scheme to raise taxes on the middle class in order to cut taxes for corporations and the very rich,” said DCCC spokesperson Rachel Irwin. “Main street’s loss will be Wall Street’s gain if Republicans have their way, and Iowans are watching closely as Reps. Blum and Young prepare to walk the plank on yet another unpopular bill that hurts the middle class.”
Among the unacceptable middle class tax increases Paul Ryan and House Republicans are considering:
· Eliminating or reducing the deduction for State and Local taxes.
· Limiting how much Americans can contribute to their 401ks.
· Eliminating the deductions for major medical bills.
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