WASHINGTON – U.S. Senator Ben Cardin (D-Md.), a member of the Senate Finance Committee, issued the following statement after Republicans passed their hyper-partisan tax bill with a bare majority of votes. The plan, cobbled together with last-minute changes meant to buy additional votes but not solve critical flaws, will give permanent tax cuts to corporations at the expense of working- and middle-income Americans while adding more than a trillion dollars to our national debt.
“The tax legislation passed by Senate Republicans today is a highly partisan product designed to permanently cut taxes for corporations at the expense of the rest of America. It is designed to fulfill a campaign promise, not to help our economy. It does not help middle-income and working families, as promised, and even makes them pay more in only 10 years. The Republican budget gimmicks meant to shoehorn this legislation into a partisan reconciliation process took a bad bill and made it exponentially worse – for our country and our economy.
“As I’ve said previously, this isn’t fair and it isn’t right. What was passed by the Senate, and most likely will be taken up by the House Republicans, isn’t going to work and will hurt our middle-income and working families, cripple our state and local governments, harm our students and cost 13 million more Americans their health insurance coverage.
“We need a tax reform plan that is meaningful to every American, not just the privileged few. What was passed by the Republicans in the Senate today is far from meaningful tax reform.”