By Andres Del Aguila
WASHINGTON – Senate Minority Leader Chuck Schumer (D-N.Y.) condemned the GOP tax plan on Wednesday, arguing it disproportionately benefits the rich and unduly places the tax burden on the middle and working classes.
“That’s been the administration’s MO: Selling out the American people on behalf of powerful special interests…,” Schumer said at a news conference. “Taking the burden off people like [Education] Secretary [Betsy] Devos – a multi-billionaire – and all of the other swamp cabinet and putting it on the backs of the middle class and those struggling to get to the middle class.”
Schumer, joined by Sen. Elizabeth Warren (D-Mass.) and Neera Tanden, president of the Center for American Progress, said the GOP is out-of-touch with the American people. He predicted that public pressure will kill the plan.
President Donald Trump’s administration released the framework of the tax plan on Sept. 27.
The administration touted it will “put more money into the pockets of everyday hardworking people” by creating a zero-tax bracket for couples earning at or below $24,000 and for single filers earning at or below $12,000.
Treasury Secretary Steve Mnuchin said in a September statement that the “simpler and fairer tax code” will boost the economy by giving workers a pay raise.
Schumer, however, argued Trump instead strives to “line the pockets” of his cabinet by gifting them tax breaks while the GOP budget cuts funding to Medicare and Medicaid.
The GOP tax plan eliminates the estate tax, which is imposed on estates valued at $5.5 million and beyond.
That proposal would benefit President Donald Trump and his cabinet upward to $3.5 billion, according to the Kaiser Family Foundation, a nonpartisan organization focused on health policy. The organization found that amount could cover over 300,000 people on Medicare for one year.
Schumer said Democrats are “shining the light of truth on this bill and the disinfectant of sunlight will turn the American people against this bill.”