PELOSI’S PLOT Nancy Pledges to REPEAL GOP TAX CUTS if Dems Take the House
Source: https://goo.gl/CFsko7
House Minority Leader Nancy Pelosi doubled-down on her baseless attacks on the GOP tax cuts this week, telling a packed audience she plans to repeal the legislation should Democrats manage to retake the House of Representatives this fall.
Pelosi was speaking at a town hall event in California Wednesday night when she lashed-out at the President’s tax overhaul, claiming over 80% of the benefits go “to the top one percent.”
“Over 80 percent of the benefits go to the top 1 percent,” said the former Speaker of the House. “Eighty-six million middle-class families will see a tax increase while they advertise it as a middle-class bill.”
Pelosi’s comments come just a day after the US government published a strong economic forecast, with record low unemployment, higher wages, and big bonuses as American workers feel the benefits of the GOP-sponsored cuts.
Watch Pelosi’s comments:
California Democratic Rep. Ted Lieu, speaking alongside Pelosi at the event, said the GOP tax cuts would result in “deep cuts to Social Security, to Medicare, to all these critical programs that serve a lot of Americans.”
Pelosi didn’t offer specifics when asked if Democrats would re-work the bill from scratch or focus on specific portions, saying instead her party would work openly with Republicans to reach a deal.
“One of our complaints about what they did with the tax bill is they did it in the dark of night with the speed of light,” the California Democrat said.
“We’ll sit down at the table and say … what would be a tax bill that creates growth, that creates good paying jobs as it reduces the deficit?” she said.
“It’s not about chipping at this piece or that piece, it’s about a comprehensive look at what our tax policy should be for the future,” she added.
“Secondly, we would do it so it would be transparent so that people could understand the ramifications of this, that or the other,” Pelosi promised.
Pelosi’s comments Wednesday comes after she said in February that 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 offered a more specific proposal towards reworking the GOP tax plan in March. His plan 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.