Washington, D.C. — Center for American Progress President and CEO Neera Tanden released the following statement on the tax plan put forth by President Donald Trump and his administration today:
Donald Trump ran as a new kind of Republican, but his tax plan rehashes the same old, tired trickle-down policies that conservatives have clung to for decades. Instead of making the wealthiest Americans and big corporations pay their fair share, Trump’s plan makes tax loopholes bigger, helps the rich get richer, and rewards special interests at the expense of working families.
Make no mistake: Social Security, Medicare, and Medicaid will be directly threatened by this tax plan. The White House and congressional leaders will use the budget-busting impact of these tax giveaways for the rich as cover for making deep cuts to healthcare, infrastructure, Meals on Wheels, and other pillars of middle-class economic security. Slashing the rate on one of the most progressive pieces of the tax code—the corporate income tax—would tilt our tax system even further in favor of the top 1 percent.
The notion that economic growth will pay for these tax giveaways is exactly the kind of scam we’ve come to expect from the administration currently occupying the White House. If the first 100 days of this administration are any indication of the months and years to come, it’s clear that the wealthy will win above everyone else.
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