McCollum Statement on House Republicans’ Tax Cuts for the Rich
Congresswoman Betty McCollum (DFL-Minn.) released the following statement after Speaker Paul Ryan and House Republicans formally unveiled their tax legislation, the so-called “Tax Cuts and Jobs Act”:
“As expected, House Republicans’ idea of tax reform is to force working families in Minnesota and across the United States to pay for a massive giveaway to billionaires, CEOs, and big corporations. Their bill hands the wealthiest Americans hundreds of thousands of dollars each year, slashes taxes on big corporations, and helps heirs and heiresses dodge taxes entirely.
“For working families in Minnesota, this Republican bill is a raw deal, not reform. Most middle class families will see virtually no tax benefit, while many Minnesotans will actually see their taxes increase because of the elimination of the state and local tax deduction. Worse still, this Republican bill explodes the federal deficit and adds trillions to the federal debt, threatening the investments that keep our families and communities healthy and strong.
“Middle class Americans must come first with a real, bipartisan tax reform plan. This Republican bill fails Minnesota families. I oppose it.”