Trump Hits Back After Dem Rep Announces Bill To Reverse GOP Tax Law
Last week, Rep. Jared Polis (D-CO) introduced the “Students Over Special Interests Act,” which would reverse the GOP tax bill signed into law by President Trump in December, 2017.
According to Polis’ official website, the legislation would “repeal the Republican tax plan and its $1.9 trillion in corporate and special interest giveaways – redirecting those funds to student loan borrowers, cancelling out the nearly $1.4 trillion in student loan debt nationwide. It uses the remaining savings to invest in Pell Grants and reduce the federal deficit.”
In a statement, Polis said in part:
The Republican tax plan was all about special interests cashing in at the expense of everyone else. My plan shows what a difference we can make for middle-class Americans for even less cost. So many people go to school, get a job, and work hard but still struggle to get ahead because they are weighted down by student loans. It’s time to help them get out from the mountain of debt they are under.
As The Daily Wire previously reported, the GOP tax law actually reduces the tax burden for middle-income and low-income families by substantial margins. For example, a family of four living in Arizona and making $75,000 will see a 54% reduction in their tax bill.
Moreover, prior to the GOP tax law, corporate taxes in the United States were the highest among OECD nations at nearly 39%. The reduction to 21% will allow the U.S. to be competitive in a global marketplace.
As a result of the tax law, numerous businesses have offered one-time bonuses, and some have set wage increases. Walmart, which employs about 1.5 million Americans, increased its starting hourly wage to $11/hour (an approximate 22% bump over the previous $9/hour), and expanded its paid maternity leave program in response to the signing of the tax law.