STATEMENT: CAP’s Neera Tanden: Senate Tax Bill, Like House Tax Bill, Is Unconscionable Giveaway to Billionaires and Corporations

Washington, D.C. — Neera Tanden, president and CEO of the Center for American Progress, released the following statement today after Senate Republicans unveiled their tax plan:

Both House and Senate Republicans are trying to ram through massive tax cuts for corporations, millionaires, and billionaires that would be paid for on the backs of working families. The Senate bill replicates the framework of the House bill: huge tax cuts for the richest 1 percent; tax increases for many working families; and trillions of dollars added to the deficit, all to be paid for by cutting Medicare, Medicaid, and education.

It’s no wonder that Gary Cohn, the Wall Street executive who heads President Donald Trump’s economic team, openly admitted that wealthy CEOs are the most excited about these tax cuts—further evidence of a system that is badly rigged to favor excessive corporate profits over working Americans. We will not let it stand.

For more information on this topic or to speak with an expert, please contact Kyle Epstein at kepstein@americanprogress.org or 202.481.8137.