Langevin Statement on House Republican Tax Proposal

Nov 2, 2017 Issues: Budget, Economy and Jobs

Congressman Jim Langevin (D-RI) issued the following statement regarding the release of the House Republican tax proposal:

“After months of secret negotiations without a single public hearing, House Republicans have finally released their tax reform proposal. Unsurprisingly, the bill will disproportionately benefit the wealthiest Americans and dramatically reduce taxes paid by corporations. While some of the incentives in the Republican package may benefit working Americans, they are mere crumbs compared to what meaningful tax reform could bring to our state and country.

“In fact, many middle class Rhode Islanders may end up paying higher taxes due to the elimination of deductions for student loans, medical expenses, and state taxes, as well as new limitations on the property tax and mortgage interest deductions. Small businesses, too, are an afterthought in the Republican proposal with most of the cuts going to larger, wealthier corporations.  To add insult to injury, the cost of this proposal would be borne by our children, who would see trillions added to the nation’s deficit.

“We need to reform the tax code in a way that is fair and equitable for all Americans. That means we need their input and an open process that brings everyone, not just corporate lobbyists, to the table. I urge my House Republican colleagues to turn off this rushed, partisan path and join with Democrats to create real reform.”