October 26,2017

Press Contact:

Rachel McCleery (202) 224-4515 

Wyden: "Republican Tax Plan is a Feast for Ultra-Wealthy and Middle Class is on the Menu"

Every proposal the Republicans put forward to pay for a tax giveaway to the top reaches right into pockets of the middle class

Washington, D.C. – Following House passage of the fiscal year (FY) 2018 budget, Senate Finance Committee Ranking Member Sen. Ron Wyden, D-Ore., warned the middle-class that their bottom lines would take a hit as Republicans look to fast-track a tax bill that gives windfalls to the one percent.  

In a speech on the Senate floor today, Wyden highlighted that Republican plans to repeal the state and local deduction, target retirement funds and eliminate the personal and dependent exemptions will hurt middle-class families all across the country.

“This morning the House passed the budget, so now it’s on to tax. This debate is coming. It’s going to happen at the speed of light,” said Wyden.  “The whole process could be over before anybody has put a dent in their holiday shopping, but that’s what the majority is counting on. They are rushing their tax giveaway to big corporations and the wealthy through the Congress so quickly that nobody catches on.”

“Real tax reform ought to be about putting more dollars back in middle class pockets. But right now the majority appears to be taking a different tack. It amounts to a hunt for ways to force the middle class to pay for tax breaks for those at the top.”

You can watch Ranking Member Wyden’s full speech here.