House Minority Leader Nancy Pelosi, D-Calif., slammed the House Republican's tax reform plan Thursday hours after the legislative text was revealed, and said it was a trick to help the rich at the expense of the middle class.
"Even after ransacking all the middle-class benefits, Republicans are still adding trillions to the deficit," she said, adding that the plan is a "scheme to use the debt they pile up today to obliterate Medicare and Medicaid tomorrow."
"This is a shell game, a Ponzi scheme that corporate America will perpetrate on the American people," she said. "But if you're the wealthiest 1 percent, Republicans will give you the sun, the moon, and the stars — all of that at the expense of the great middle class."
Pelosi made the remarks during a press conference with Senate Minority Leader Chuck Schumer, D-N.Y., along with Sen. Ron Wyden, D-Ore., and Rep. Richard Neal, D-Mass., the ranking members of the Senate Finance and House Ways & Means Committees.
The plan has been warmly received by most within Republican circles, except with some hailing from New York and New Jersey who would see a cut in their state and local tax deductions, according to the plan. They are also expected to try to pass the bill without Democratic help as they only need a majority of support in the House and in the Senate.
"This bill is everything America doesn't want," Schumer said. "Like a fish, if it stays out in the sunlight too long, it stinks."
Schumer said the gameplan to defeat the tax bill, the Tax Cuts and Jobs Act, will be very similar to what they employed to kill the various Senate healthcare bills, all of which were unable to pass the upper chamber due to lack of support from moderate members.