Blog Post

Just when we thought it couldn’t get any worse, President Trump’s tweets strike again: this time advocating changes to the #GOPTaxScam to hike families’ health premiums and lower taxes even more for the wealthiest.

As House Republicans finalize a GOP tax scam that will raise taxes on 38 million middle class households in order to hand massive tax breaks to the rich and corporations, Republicans are eliminating major tax deductions benefiting America’s hard-working families – including the student loan interest and teacher’s expense deductions. 

Washington, D.C.—Democratic Leader Nancy Pelosi released the following statement after Senate Republicans unveiled their version of the GOP tax scam and the House Ways & Means Committee voted to pass the last-minute revisions to the House GOP tax scam along party lines:

This morning, White House Economic Adviser Gary Cohn confirmed the obvious about the GOP tax scam bill: ‘The most excited group out there are big CEOs, about our tax plan.’   It’s no wonder CEOs are more ‘excited’ than everyone else.  The GOP tax scam hands massive tax breaks to corporations shipping jobs overseas, while raising taxes on 38 million middle class households. 

SHOT: “Even though there's a lot of false information out there, everybody gets a tax cut.” – Speaker Ryan this AM

Yesterday, President Trump claimed he'll ‘get killed' and be a ‘big loser' under the Ryan-McConnell tax bill.

Truth?  The only ‘big

While House Republicans from California tout the GOP Tax Scam as a tax bill that brings ‘relief’ to Californians, they’re actually eliminating the deductions that working families in their districts benefit from.     The GOP bill caps the mortgage interest deduction at $500,000, which is half of the current $1 million cap.  That’s a problem for thousands of CA households because four of the top six areas where more than 30 percent of new mortgages are over $500,000 are in districts represented by Republicans:

Under the Ryan-McConnell tax bill, not only are Republicans raising taxes on the middle class in order to hand massive tax cuts to the rich, they are destroying a key tax deduction for working families dealing with medical bills: the medical expense deduction, which helps families with children with disabilities, long-term care needs, a need for expensive fertility treatments that have very high medical costs.