Linda Sánchez Statement on Ryan-McConnell Tax Fiasco

Statement

U.S. Representative Linda Sánchez (CA-38), Vice Chair of the House Democratic Caucus and a member of the Tax Policy Subcommittee, released the following statement on the Republican tax proposal released by Ways and Means Committee Chairman Kevin Brady:

"America is in need of real tax reform. This bill is not real tax reform. It is nothing short of a tax fiasco. Republicans have talked for years about the need to do a 1986 style tax reform. This does not even come close to the process or the substance of 1986.

"Just as expected, it is another fiscally irresponsible tax giveaway to wealthy Americans and corporations. But massive corporate tax cuts does not guarantee job growth or increased wages for working families. It only guarantees adding at least $1.5 trillion to the deficit.

"The truth about the Republican tax plan is billionaires get massive tax cuts while working families are left to pick up the $1.5 trillion tab. The American people are sick and tired of the same Republican cut, cut, and cut proposals. Under the Ryan-McConnell tax plan, the mortgage interest tax deduction would be cut. The student loan interest deduction would be cut. State and local tax deduction would be cut. I don't see how any of that helps working families.

"We need a tax code that is simpler, fairer, and supports working families. But this bill does not achieve any of that. Instead, Republicans are pushing out a rushed tax plan that will give only the wealthiest families tax relief while many working families could likely see a tax increase."

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