WASHINGTON - Senate Finance Committee Ranking Member Ron Wyden, D-Ore., issued a statement Wednesday sharply critical of the Trump administration’s “unprincipled” tax reform proposal:
Here is the statement, in full:
“This is an unprincipled tax plan that will result in cuts for the 1 percent, conflicts for the President, crippling debt for America and crumbs for the working people. Instead of providing a real tax reform plan as promised, this administration is offering cakes to the fortunate few. Instead of focusing on lowering takes for teachers, nurses and cops, Trump appears to be piling on the conflicts of interest by ensuring he himself will receive an elite giveaway. Yet another reason why it’s critical the American people see his tax returns.
“And while the President, multinational corporations and wealthy shareholders enjoy a big tax cut, trillions of dollars will be added to America’s crippling debt. This kind of irresponsibility is light on details for people who work for a living and is based off of a failed trickle down economic theory and one that could deplete Medicare and Social Security as we know it.
“For months, Republicans have been generating a lot of happy talk when it comes to taxes when it simply isn’t true. It’s time for Republicans to put down the partisan playbook and work across the aisle to craft lasting, comprehensive tax reform legislation that benefits hardworking Americans and sets our economy on a new course,” Wyden concluded.