Rep. Don Beyer (D-VA) issued the following statement today after the passage of the Republican tax bill, H.R. 1, in the House:
“I am adamantly opposed to the House Republican tax bill, H.R.1. The bill will raise taxes on millions of middle class Americans in order to fund tax cuts for the wealthy, and yet still manages to explode the deficit. We have an opportunity to enact tax reform focused on the prosperity of hard working Americans, which simplifies the tax code and is fiscally responsible. Unfortunately the GOP has opted for a bill in which right-wing ideology and magical thinking trump common sense and sound economic policy.
“The fiscal irresponsibility of this bill will hamstring efforts to invest in our future, to fix our infrastructure and to educate a twenty-first century workforce. It will lead to cuts to Medicare and other programs that are critical to millions of Americans. The bill contains giveaways for heirs of massive estates and the idle rich, yet punishes students and the very ill. How is that fair? How does that make sense? How could any Member of Congress vote for this?”
The nonpartisan Tax Policy Center estimates that by 2027 the wealthiest 1 percent of Americans would receive half of the total tax benefit, while nearly a quarter of American households see a tax increase.
The bill passed with bipartisan opposition, and the final vote was 227-205.