Levin Statement on GOP Tax Reform Framework

Sep 27, 2017 Issues: Economy

WASHINGTON, D.C. – Rep. Sander Levin (MI-09) today released the following response to the Republican tax reform framework released today:

“While critical details have been left out, the general trajectory of the Republican tax plan is clear – too much help for the wealthy and an enormous deficit tax for everyone else.  

“The GOP scheme will attempt to hide this impact through misleading rhetoric and so-called dynamic scoring, but basic math will eventually tell the full story. For example, cutting the top income tax rate would only benefit about one in every 100 households, with millionaires getting a big break. Providing a lower top tax rate for “pass through” business income will also focus the vast majority of its benefits on those with incomes over $1 million. And eliminating the tax on multimillion-dollar estates only applies to richest 0.2% of all estates.  

“This is not a proposal focused on helping the middle class, especially since those same ordinary Americans will be forced to pay for the growing budget deficits it will create through higher taxes in the future or cuts in vital health, education and other programs. 

“We need tax reform that helps grow our economy by helping the middle class, and those struggling to join it. A good start toward this goal would be a bipartisan process where Democrats have a real seat at the table.”