Tax Policy Ranking Member Rep. Doggett Reacts to President Trump’s Tax Plan

Washington, D.C. – Today, U.S. Congressman Lloyd Doggett (D-Texas), Ranking Democrat on the House Ways and Means Tax Policy Subcommittee reacts to the Administration's tax cut proposal as President Trump stumbles to the 100 day mark:

"The claim that his multi-trillion dollar tax cut will pay for itself is as incredible as the claim that Mexico will pay for his multi-billion dollar border wall. Dripping in red ink, this proposal validates Trump's boast that he is ‘the king of debt.' For Trump and his cohorts, ‘fiscal responsibility' is just a political slogan used to undermine the vital education, health care, and social services that they oppose, not a genuine commitment to restraining the national debt.

"Boasting of his previous influence in bending the Tax Code to his whim, Trump claims only he can fix it. But will he ‘fix' it for himself, or fix it for the middle class? Without an end to the Republican cover-up of Trump's tax returns, we cannot determine whether this is mostly just more self-enrichment for the Trump family.

"His international tax plan lowers taxes on investment abroad, incentivizing companies to export jobs and profits. And he rewards corporate tax dodgers, who have previously stripped earnings from American sales and buried their treasure in exotic foreign tax havens, by taxing them at a mere dime on the dollar.

"Trump talks like a populist but governs like a plutocrat. Like the near trillion dollar tax cut in the failed health care bill that he endorsed, Trump's tax plan fills the coffers of giant corporations and lines the pockets of the superrich."

Attached here is a document with more about Donald Trump's Amazing Tax Adventure Across the Incredibility Gap.