Statement: GOP Senate Tax Plan is a Giveaway to Wealthy Families and Corporations

“Like the House Republicans’ tax proposal, the Senate GOP plan released yesterday would give hundreds of billions of dollars in tax cuts to wealthy households and major corporations at the expense of low-and middle-income families. In fact, the plan would ultimately hurt many low- and middle-income families.

The new Senate proposal would add at least $1.5 trillion in debt – and to pay for it, Republicans in Congress will almost certainly try to cut everything from nutrition assistance for struggling families to education and health care. Worse still, by completely eliminating the state and local tax deduction and forcing federal budget cuts that could shift new costs to states, the plan would likely put more pressure on West Virginia’s budget, likely causing even more cuts to education, transportation, and other programs West Virginians count on.

Senators Capito and Manchin should reject the Senate GOP tax bill. Instead of tax cuts that help those who need it the least, West Virginia’s senators should work to advance tax policies that invest in working families while ensuring that tax cuts are paid for by closing tax loopholes or other responsible tax changes.”