WASHINGTON – U.S. Senator Ben Cardin (D-Md.), a member of the tax-writing Senate Finance Committee, released the following statement regarding the tax reform outline released today by Republican Congressional leaders, the Treasury Secretary and White House National Economic Council Director.
“While it is helpful that this outline has grown from a one-page document to something slightly longer, there are too few details to consider this any kind of comprehensive proposal. We have no idea how much this package will cost. Given the deep rate cuts and the lack of detail on pay fors, it may be very expensive. We need to be fiscally responsible. I am very doubtful that this is a progressive tax package – one that ensures fairness in our tax code for middle-income Americans.
“This outline kicks all the hard decisions in reforming our tax code to the committees. This means that we must have a robust, transparent, bipartisan process to make up the plethora of details missing from the outline released today. Republicans cannot treat tax reform like they did health care, with a few lawmakers in a room drafting legislation with no input from others. True regular order is essential; it cannot be brushed aside. Any tax reform plan will have a profound impact on our economy, our country and every individual, family and business.”