Congresswoman Bustos Statement on Washington Republicans’ Billionaires-First Tax Plan

GOP Bill would Raise Taxes on Millions of Middle Class Families while giving massive tax breaks to the ultra-wealthy and Wall Street

WASHINGTON, DC – Today, Congresswoman Cheri Bustos (IL-17) denounced Paul Ryan’s Billionaires-First tax bill which was released this morning.

“When Paul Ryan and Mitch McConnell looked Americans in the eye and promised a tax reform package that would create jobs, that’s what we in the Midwest expected, but that’s not what this bill does,” Congresswoman Cheri Bustos said. “Instead, their bill is a shell game that will raise taxes on millions of hardworking families by capping state and local tax deductions while eliminating middle-class tax relief on things like student loan interest and medical expenses. Meanwhile, at a time when the Dow Jones keeps breaking records, their plan gives trillions of dollars to the ultra-wealthy on Wall Street while making it easier for big corporations to ship jobs overseas. The bottom line is that their plan will hurt job creation while sticking our next generation with the bill for trillions of dollars in new debt.

“As I have said from the start, we need real tax reform that puts hardworking families first and creates the right economic environment for good-paying jobs to be created across the heartland. However, the Washington Republicans’ billionaires-first tax plan would take us in the wrong direction.”

Earlier today, Congresswoman Bustos also participated in a press conference about the Washington Republicans’ billionaires-first tax plan which you can watch here: