STATEMENT: CAP’s Neera Tanden: House Tax Bill is a Grade-A Scam

Washington, D.C. — Neera Tanden, president and CEO of the Center for American Progress, released the following statement today after House Republicans introduced legislation that would give enormous tax breaks to millionaires, billionaires, and wealthy corporations.

President Donald Trump and congressional Republican leaders can dress up this bill all they want, but the reality is this: The House tax legislation is a grade-A scam. Its primary feature—huge tax cuts for millionaires, billionaires, and wealthy corporations—will be paid for by middle- and working-class families. It will threaten priorities such as Medicaid, Medicare, and education.

This bill is a gift basket for ultra-rich donors and evidence of a badly rigged system that puts corporate profits above working families. Frankly, President Trump, House Speaker Paul Ryan (R-WI), and congressional Republican leaders should be ashamed.

Related resources:

• Supply-Side Follies: Wasteful Tax Cuts Will Not Boost the Economy by Christian E. Weller
• This Is How Much Average Americans Will Pay for Trump’s Tax Cuts for the 1 Percent by Rachel West, Katherine Gallagher Robbins, and Melissa Boteach
• The Facts on Tax Reform series by Alexandra Thornton and Seth Hanlon
• For the Cost of Repealing the Estate Tax, Congress Could Buy Everyone in America a Pony by Rachel West and Harry Stein (TalkPoverty)

For more information on this topic or to speak with an expert, contact Allison Preiss at apreiss@americanprogress.org or 202.478.6331.