February 26,2020

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Ashley Shcapitl (202) 224-4515

Wyden Statement on GAO Report on Implementation of Republican Tax Cuts

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today released the following statement in reaction to a report by the Government Accountability Office (GAO) on implementation of the Republican tax cuts: 

“GAO confirms my warnings came true. In jamming through their tax bill, Republicans failed to include crucial details and drafted a sloppy law. IRS was left to pick up the pieces and deal with millions of outraged taxpayers. Importantly, GAO also notes that the Treasury Department excluded important analyses of how much money was lost from lax regulations and who reaped the benefits. The result is billions in additional handouts to the wealthy and corporations and an even greater revenue loss than the original $1.5 trillion price tag.”