The Trump administration is denying Democrats claims that the tax-reform plan will only benefit the wealthy, claiming corporate tax cuts will help the working class. However, a recent poll by CBS News shows that 58 percent of Americans believe the GOP tax proposal only favors the rich and only 18 percent that it would also benefit the middle class. This only reinforces claims made by Democrats who have criticized these cuts from the beginning.
President Donald Trump, however, maintained that the Republican tax reforms will be all about helping the middle class.
“We want to make sure that the middle class is the biggest beneficiary of the tax cuts and tax reform,” Trump said on Monday.
In an earlier speech, he delivered in Pennsylvania, after apparently being told by wealthy people that his tax plan needs to focus on working families and not themselves.
“It’s a middle-class bill. That’s what we’re thinking of. That’s what I want,” Trump noted.
The president’s Council of Economic Advisers argued that the tax plan intended to reduce corporate tax rates would eventually add between $4,000 and $9,000 per year to average families’ income. This claim was met with skepticism by some experts.
Democrats’ attacks on GOP tax cut efforts have increased in past weeks, gaining the support of nonpartisan experts, who agree there are elements in the plan, such as the repeal of estate tax, which only benefit the rich. Even the Secretary of Treasury, Steven Mnuchin, admitted that particular element favors the wealthy.
Trump and Senate Majority Leader Mitch McConnell said they would like to see the tax code rewritten by the end of the year, even though they pointed out it may not happen considering how long some previous administrations took to pass important legislation.
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