Statement | Budget, Taxes, and Public Investment

News from EPI House tax plan is a giveaway to America’s richest households and corporations

The tax plan passed today by the House of Representatives is a flat giveaway to America’s richest households and corporations. It solves no problem facing typical American families and no benefit from it will trickle down to them. Most of the same people who cast this vote to deprive the government of tax revenue will now cynically pivot and start wringing their hands about the federal budget deficit, arguing that vital programs like Medicare and Medicaid must be slashed.

Current versions of the tax plan being debated in the Senate are even worse—smuggling in measures that will deprive 13 million Americans of health insurance and raising taxes on households making less than $75,000, just to make room for tax breaks to rich households and businesses. The American people deserve better than this. No member of Congress who is sincerely interested in solving problems for typical American families would vote for either of these bills.

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