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Yarmuth Statement on GOP Tax Plan: “A Multi-Trillion Dollar Gift to the Well-Off and Well-Connected”

Nov 2, 2017

Washington, D.C. – Kentucky Congressman John Yarmuth, Ranking Member of the House Budget Committee, released the following statement on House Republicans’ tax plan of giveaways to millionaires and corporations:

“Now that House Republicans have finally released their tax plan we can see that the wealthy and powerful corporations are the overwhelming winners.  Millions of hard-working families get nothing under their plan, and in many cases will pay more. Deficits will skyrocket, weakening our economy and ultimately slowing job growth. This will be followed by demands from Republicans to cut Medicare, Social Security and other critical investments in our nation’s future.  This is not tax reform – it’s a multi-trillion dollar gift to the well-off and well-connected, and a complete abdication of any responsibility to help families struggling to get ahead.”