House GOP Ways & Means Committee Announces $5T Tax Bill Plan, Setting Up Massive Cuts to Vital Programs to Fund Billionaire Tax Cuts

Today, House Republicans on the Ways and Means Committee released the text of their tax bill, which would provide massive tax giveaways to billionaires and big corporations. The Republicans’ bill would be paid for by making massive cuts to Medicaid, nutrition for children, and other vital programs. In response, Americans for Tax Fairness, released a new analysis unpacking the committee’s plans for the Trump tax bill and sent a letter to Congressional leaders urging them to repeal this deeply harmful bill.

“The House GOP has revealed in broad daylight that their tax bill is a clear scam—one that hands out massive giveaways to their billionaire and corporate donors off the backs of their constituents with a price tag of over $5 trillion,” said David Kass, ATF Executive Director. “The plan’s massive cuts to vital programs like Medicaid and SNAP will drive up healthcare and food prices for millions of workers and families, while billionaires pocket the money and the national debt soars. Working and middle-class families—and future generations—shouldn’t have to pay higher prices simply to enrich billionaire elites and the politicians in their pocket.”