Higgins: GOP Tax Bill is a Massive Giveaway to Corporate America
As GOP leaders speed closer to passing tax legislation, Congressman Brian Higgins (NY-26) warned of the impact the bill will have on higher education and healthcare in America:
“Mr. Speaker: The President said yesterday that these massive tax cuts for corporate America will be rocket fuel for the economy. Rocket fuel for Corporate America and the Trump Empire certainly, and a rocket-fueled hit through the heart of middle America for sure.
“If you are in college and you are trying to become better and self-sufficient, to thrive in the global economy, you’re getting a big tax hike.
“If you have a medical illness you were born into, and your costs exceed your insurance coverage, you’ll be getting a big tax hike.
“If you’re one of 13 million Americans to lose your healthcare coverage, and the millions more who will see their premiums explode because Congressional Republicans needed another $300 billion for their deficit-exploding corporate tax cuts, you’ll be taking a big hit on top of a big tax cut.
“Mr. Speaker, this tax cut bill is a massive takeaway from middle America and a massive giveaway to corporate America.
“The deficit will rise by $1.5 trillion and both the Congressional Budget Office and the Joint Committee on Taxation confirm that in less than 10 years that Americans making between $40,000 and $50,000 will pay $5.3 billion more in taxes.”