Sen. Chuck Schumer is already bashing the Republican tax reform package revealed in Indiana today, Sept. 27, 2017. “It’s little more than an across-the-board tax cut for America’s millionaires and billionaires,” said Schumer.
Democrats are decrying the plan claiming it would leave a hole in the deficit and are engaging in scare tactics saying social programs will be cut next.
Republicans argue that the economic growth from the reformed tax structure will make the tax plan deficit neutral and possibly add tax revenue.
“It would take less than four-tenths of a percent of stronger growth to fully offset” the proposed tax-cut deficit, said Sen. Pat Toomey (R-Penn.) sits on Senate Budget Committee.
According to a CNN poll conducted September 17-20, 68 percent of Americans say the federal income tax system needs a complete overhaul or major change.
Additionally, a new Republican poll, released Thursday, found that nearly three-fourths of voters consider tax reform as a priority and 43 percent consider it a top priority.
Close to half of the voters polled thought cutting taxes for the middle class to be the most important aspect needed, and half of the Democrats polled wanted lower middle -class tax cuts, but 47 percent said they would support lowering the corporate rate to help businesses who face foreign competition.
The poll revealed that Republicans are more trusted than Democrats on the economy and tax reform policy by six points.
Democrats continue to struggle with finding a message that resonates with their voters. One thing is for sure, their slogans of “tax cuts for the rich” will not help their cause in 2018.
Chuck Schumer and Nancy Pelosi have an opportunity to work with President Trump and the Republicans to deliver the tax reform and cuts the American people overwhelmingly support.
By Laurel Fee
Edited by Cathy Milne
Sources:
The Hill: Schumer: Trump tax plan ‘wealth-fare
Washington Examiner: Chuck Schumer: Trump, GOP tax plan to be cheered in ‘country clubs and the corporate boardrooms
NEWSMAX: Poll: 68% of Americans Want Major Changes in Tax System
Real Clear Politics: GOP Poll Shows Strong Support for Tax Reform
Featured and Top Image Courtesy of Gage Skidmore’s Flickr Page – Creative Commons License
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