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Rep. Judy Chu Statement GOP Tax Bill

December 19, 2017
Press Release

Washington, DC – The House of Representatives today passed H.R. 1, a tax bill that, according to the non-partisan Tax Policy Center, will raise taxes on 86 million middle class households while cutting taxes for corporations and the wealthy. Rep. Judy Chu (CA-27), a member of the House Ways and Means Committee, released the following statement:

“We were promised a middle class tax cut. This is not it. Republicans claim this bill will support families, which is belied by the fact that 83% of the benefits go to the top 1%. Most of the expected benefits of this bill depend on a belief that tax cuts to the wealthiest eventually trickle down to the rest – something that has been tried and disproven time and again. This bill will not raise wages, but it will make the rich richer. Many, like families in my own state, could actually end up paying more in taxes, thanks to changes to the state and local tax deduction needed to pay for tax cuts for corporate interests. Others will suffer the after-effects as Republicans slash Medicaid, Medicare, and Social Security in order to pay down the trillion dollar deficit this bill creates. So to those who are not in the top 1% who are not the intended beneficiaries of this bill, when corporate profits have   increased but your paycheck hasn’t, remember the broken promises that Republicans made to you.”