On Tuesday, Congressional Republicans rushed through their tax bill—which the House has to revote on—on straight party-line votes in the House and Senate. And despite repeated claims from bill proponents that their bill is focused on middle-class tax relief, the final bill is instead primarily a vehicle for permanent corporate tax cuts.
The bill includes some tax cuts for families, but these cuts are both temporary and tilted toward high-income households. Even in the initial years, millions of families end up paying more. And in the long run, the bill uses reduced spending on health programs and permanent middle-class tax increases to pay for these corporate cuts.
The above excerpt was originally published in Fortune.
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