Senate Republicans’ Reconciliation Bill Would Harm Millions
WASHINGTON, D.C. – The Senate Finance Committee today published its draft version of the tax provisions in the Republican reconciliation package. Lisa Gilbert, co-president of Public Citizen, released the following statement:
“Congressional Republicans’ and President Donald Trump’s tax scam is an extremely dangerous step backwards that would harm millions of Americans. The Senate’s recently released tax portions of the Big Ugly Bill prioritize billionaires over people, while continuing to kick millions of Americans off Medicaid and SNAP benefits. This bill would make permanent the tax cuts for the richest 0.1%, costing taxpayers upwards of $50 billion, while the poorest Americans would see their health care and food assistance disappear.
“On top of these massive giveaways to billionaires, Big Oil would get an explicit handout. Under former President Joe Biden’s climate law, U.S. companies finally paid their fair share under the corporate alternative minimum tax. Now Senate Republicans are trying to give Big Oil an exemption by adding industry-backed language that would solely benefit fossil-fuel companies, while inhibiting the advancement of domestic clean energy technologies, terminating clean car incentives, and abandoning the potential of good paying U.S. manufacturing jobs. This just skims the surface of this Big Ugly Bill.
“Over and over, congressional Republicans are putting wealthy corporations and billionaires over working families. Congress should reject this bill.”