By 2027, the legislation will raise taxes by $27 billion on families earning $75,000 and below while corporations across the board will continue to enjoy guaranteed tax cuts.
In a statement, Sen. Wyden said, “I do not know how anybody can go home to their constituents and explain why it’s a good idea to hike taxes on parents who are barely staying afloat to pay for a massive corporate handout.”
Additionally, Sen. Wyden said, “What’s happening here is shameful. Republicans in this room spent all day yesterday saying that repealing the individual mandate is a tax cut. This is proof positive that that was dead wrong. This is what happens when you legislate in secret with such reckless haste. This amounts to writing tax policy in the dark, and the majority is doing its best to keep the lights turned off.”
Furthermore, he emphasized, “This is not a real, honest-to-God attempt to have a full bipartisan debate on tax reform that gives everybody a chance to get ahead.”
