by WorldTribune Staff, April 6, 2018
At a town hall event that is part of her “Repeal the Trump Tax” tour, House Minority Leader Nancy Pelosi on April 4 said Democrats will rework the president’s tax bill if the party retakes the House in the 2018 midterms.
“Over 80 percent of the benefits go to the top 1 percent,” Pelosi said of the GOP tax cuts. “Eighty-six million middle-class families will see a tax increase while they advertise it as a middle-class bill.”
The non-partisan Tax Policy Center said the average U.S. household will receive a tax cut of $1,610 in 2018, adding only 5 percent of taxpayers will see increased taxes in 2018.
Pelosi, who as House Speaker famously said in 2010 before Democrats passed Obamacare that “you have to pass it to see what’s in it,” said of President Donald Trump’s tax bill: “One of our complaints about what they (Republicans) did with the tax bill is they did it in the dark of night with the speed of light. … we would do it so it would be transparent so that people could understand the ramifications of this, that or the other.”
Pelosi in February said Democrats would have to “replace and repeal” the GOP tax bill once retaking the House.
“It may have to be a ‘replace and repeal’ — replace them and repeal the bill,” Pelosi said.
Senate Minority Leader Chuck Schumer has called for a number of tax hikes, including lifting the corporate tax rate to 25 percent, raising the income tax rate to 39.6 percent for high earning Americans and slashing the carried-interest tax loophole.
“We want to roll back the Republicans’ tax giveaways to corporations and the wealthy and invest that money instead in jobs and infrastructure,” Schumer said.