Paul Tonko: “Again and again, President Donald Trump has promised tax reform that would help the middle class; and again and again…”

“Again and again, President Donald Trump has promised tax reform that would help the middle class; and again and again, the President has broken those promises. Instead of helping America's middle class and the working poor, his proposals offer big breaks for millionaires and corporations, and painful cuts for nearly everyone else. The House Republican plan rolled out yesterday, rolls over the middle class and those looking to ascend the middle class. It cuts the estate tax, a tax that only affects a few thousand of the wealthiest American families, all while raising taxes on the lowest income bracket from 10 to 12 percent. This plan slashes commonsense deductions for middle class families, including those for medical bills, student loan interest, and even mortgage interest. My Republican colleagues claim their plan would save people money, but they say nothing about the $1.5 trillion their plan would add to the deficit over the next 10 years. That is about $12,000 of debt for each American household. The American people deserve real tax reform, not just more tax cuts for the wealthy and powerful and those connected. ____________________”