House Democratic Whip Steny H. Hoyer (MD) released the following statement today on the Tax Policy Center's analysis of the GOP tax reform framework:
"The nonpartisan Tax Policy Center's analysis of Republicans' tax reform framework ought to raise concern among every American who worries about their own economic wellbeing as well as the impact of deficits and debt. According to its findings, 80% of the tax cuts would go solely to those who make over $900,000 a year, while the middle class is left behind. In addition, the Republican proposal would raise taxes on individual taxpayers to pay for trillions of dollars in tax cuts for businesses.
"Even then, the Republicans' framework would massively increase the debt, adding $2.4 trillion to our deficits over ten years. Republicans may talk a good game to the middle class, but they cannot deny the math: their plan would raise taxes on hardworking Americans and their families, while adding trillions to the mounting debt burden they so often decry.
"Real tax reform must be bipartisan and permanent, not limited to ten years and jammed through Congress through a partisan process. Democrats want a tax system that is fairer, that promotes growth, and that contributes to long-term fiscal sustainability. If Republicans were serious about achieving these goals, they would sit down with us and work toward bipartisan reform."