Senator Rosen Called for Middle-Class Tax Cuts & Expressed Concerns About Republican Plans For A Tax Package That Overwhelmingly Benefits Billionaires And Large Corporations
Watch Senator Rosen’s Full Remarks HERE.
WASHINGTON, D.C. – Today, U.S. Senator Jacky Rosen (D-NV) took to the floor of the Senate to call for meaningful tax relief that benefits hardworking Nevada families and small businesses amid rising costs. In her remarks, Senator Rosen blasted President-Elect Trump’s plans to cut taxes for the ultra-wealthy and billionaires at the expense of hardworking Nevadans, and she called for bipartisan cooperation in efforts to reform the tax system.
Below is an excerpt from her speech:
Heading into the new Administration, I’m deeply concerned about President Trump’s plan to cut taxes for the ultra-wealthy and billionaires on the backs of workers, senior citizens, and middle-class families.
When the Trump tax cuts were first passed in 2017, they overwhelmingly benefited the wealthiest individuals and the largest corporations, while increasing our national debt and leaving the middle class and working families, well, they just left them with much less to show for it.
And Senate Democrats – we will fight – we will fight to stop this from happening again.
As we negotiate the upcoming comprehensive tax reform package, we must focus on making sure it provides meaningful tax relief for hardworking families, for you, for all of us.
While the Trump Administration and Senate Republicans look out for billionaires and corporations, Senate Democrats are working for you.
For one, we should be working to restart or expand several key tax credits that help support American families, like expanding the Child Tax Credit, which will increase the amount of hard-earned money families get to keep in their pocket.
We also need to use this opportunity to address the high cost of housing, which is impacting families in Nevada and across the country. We must expand the Low Income Housing Tax Credit so that we can, well, just build more housing, increase supply, and that ultimately lowers costs for you, for everyone.
As someone who grew up in a working-class family, I know what it’s like to work multiple jobs and rely on tips to make ends meet.
That’s why we need to make sure we put money back in the pockets of hardworking Nevadans, which is why any package – any package – should include the bipartisan plan to eliminate income tax on tips for service and hospitality workers.
By ending income tax on tips and adding guardrails to prevent the ultra-wealthy and CEOs from exploiting loopholes, we can make sure that Nevadans keep more of their hard-earned money.
We also need to provide a broad-based tax cut for working families and the middle class, and make sure that families making less than four hundred thousand dollars a year don’t see a tax hike.
Instead of lowering already low tax rates for corporations, we should be providing much-needed tax relief for our small businesses, like restoring research and development expensing.
Our country’s strength has always come from the middle class—our teachers, our first responders, our small business owners, our factory workers, families who get up every morning, every day, they send their kids off to school, and then they go out and they work hard to make our nation run.
And they deserve it. They deserve the tax policies that work for them, not tax cuts that leave them behind while the wealthiest of us – the wealthiest of billionaires, the big corporations – reap the tax rewards.
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