Dems: GOP tax plan a ‘disaster’

Rep. Suzan DelBene (D-Wash.) on Friday slammed Republicans’ plan to overhaul the nation’s tax code as a “partisan disaster,” casting it as a massive windfall to the wealthiest Americans that places an undue burden on the working class. 

“Tax reform done right would benefit the middle class and American businesses,” DelBene said in the Democrats’ weekly address.

“As a former CEO myself, I know firsthand that what makes our economy strong are the foundational things that have always made this country great: skilled workers, innovative ideas, a stable business climate, modern infrastructure and a world-class university system that helps turn cutting-edge research into successful businesses. Not indiscriminate corporate tax cuts.”

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The address came a day after House Republicans approved their tax reform legislation. 

That measure would reduce the number of individual tax brackets from seven to three, eliminate a number of tax breaks and deductions and drastically cut the corporate tax rate from 35 percent to 20 percent.

Proponents of the plan argue that cutting corporate and business taxes will make the U.S. more attractive to companies and prompt them to hire more workers. 

Critics, however, say the proposal would put more money in the pockets of business owners and wealthy Americans, while failing to have the so-called “trickle-down” effect that Republicans say it will. 

Senate Republicans are working on their own version of a tax bill. Some GOP senators, however, have already voiced concern with the legislation, and one Republican, Sen. Ron Johnson (Wis.), has said he will not support the current measure.