A Ryan-McConnell Tax Cut Plan Detail GOP Left Out of Stump Speeches & Press Releases

September 28, 2017

Americans hard hit by hurricanes and other disasters – including those struggling to rebuild their lives after catastrophic events like Hurricanes Harvey, Irma and Maria – would likely lose their disaster deduction under the Ryan-McConnell tax cut plan for billionaires, according to the Wall Street Journal analysis of the winners and losers.

From the WSJ:

People with large medical or disaster deductions. Each of these write-offs on Schedule A has significant hurdles and is only available to taxpayers with large unreimbursed expenses—such as from nursing-home costs or Hurricane Harvey flood damage.

Both deductions would probably be repealed under the framework, along with those for investment interest, gambling losses and unreimbursed businesses expenses.

Details matter.

Democrats are committed to giving hard-working Americans real tax reform that creates jobs and fuels economic growth, while ensuring the wealthy pay their fair share. We will stand firm against the fast-moving multi-million dollar campaign to give tax cuts to the rich and continue to demand not one penny in tax cuts for the top 1 percent.