Casey on Passage of GOP’s Windfall for the Wealthy

Casey on Passage of GOP’s Windfall for the Wealthy

Washington, D.C. – U.S. Senator Bob Casey (D-PA) released a statement following passage of the Senate Republican tax scheme:

“This is an insult to the many middle class families in Pennsylvania who will pay more in taxes under this scheme while the super-rich and big corporations get a windfall. Congress should be working in a bipartisan way to make our tax system simpler and fairer, but the Senate Republican plan does just the opposite. In 2019, the country’s 572,000 richest households will see $34 billion worth of tax cuts, while the 90 million Americans making under $50,000 a year will see a fraction of that. That is both obscene and grossly unfair.

The bill rewards companies who outsourced jobs by giving them a big tax cut and may actually encourage more outsourcing in the future. What’s worse is that this tax plan will trigger $25 billion in automatic cuts to Medicare unless Congress acts. Now, after creating a huge hole in the deficit by giving tax cuts to the super-rich, top Republicans are saying they are planning to go after Social Security, Medicare and Medicaid. Adding insult to injury, the bill also includes a partial repeal of the Affordable Care Act, which will result in 13 million Americans losing their health care while premiums increase for families across Pennsylvania by an additional 10% per year. That’s wrong and I will fight against it. 

The Republican tax plan that just passed the Senate rewards companies who outsource jobs and ends tax deductions that help the middle class. I will continue to fight for real bipartisan tax reform that helps the middle class. What passed today is a big Republican giveaway to corporations and Republican corporate donors.”

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