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Post by bot on Jun 26, 2016 16:13:40 GMT -5
Hoyer: GOP Tax Proposal Is Another Attempt to Repackage Failed Partisan Policies
WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement today in response to the release of the sixth plank of Speaker Ryan and House Republicans’ #WrongWay agenda:
“The tax proposal House Republicans unveiled today is nothing new. They would add trillions to our deficits by first assuming that hundreds of billions of new tax cuts are magically in place before they begin and, as they have many times in the past, by relying on disproven supply-side theories to insist that tax cuts somehow pay for themselves – which we know from experience is not true. Their proposal offers virtually no details on how to pay for its ‘historic reduction in the tax rates.’ It is long on descriptions of our challenges and extremely short on any ideas of how to address them. If implemented, their plan to eliminate the estate tax and the AMT, while cutting tax rates at the top, for corporations, and for investment income, would disproportionately benefit the few wealthiest at the expense of the middle class and low-income families. Furthermore, it would harm our ability to afford the long-term investments we need to grow our economy, create opportunities for our people, and protect our national security.
“Democrats share a desire to simplify our tax code, while increasing retirement savings and investments in education. We recognize the need to make our corporate tax system more competitive internationally. But this Republican tax proposal is yet another example in recent weeks of their attempting to repackage failed partisan policies as if they were new ideas.”
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