Senate Minority Leader Chuck Schumer, D-N.Y., took aim at the Republican tax plan set to be released Wednesday afternoon, saying it will be cheered in “country clubs and the corporate boardrooms” throughout the U.S. and doesn’t do enough for middle-class Americans.
Schumer pointed to reports of the Republican plan to repeal the estate tax, lower the top tax rates and raise the bottom tax rate, adding it would result in a “massive windfall” for wealthy Americans.
“Each of these proposals would result in a massive windfall for the wealthiest Americans, and provide almost no relief to middle-class taxpayers who need it most,” Schumer said on the Senate floor. “It seems like President Trump and Republicans have designed their plan to be cheered in the country clubs and the corporate boardrooms.”
“This is not going to fly with the American people, let me tell you,” Schumer added.
The comments come ahead of the GOP’s rollout on the issue, including President Trump’s planned speech in Indianapolis on the topic.
Republicans have almost exclusively turned their attention to reforming the tax code in the wake of the failed third effort in the Senate to repeal and replace the Affordable Care Act. Senate Majority Leader Mitch McConnell, R-Ky., called off a vote on the Graham-Cassidy bill Tuesday after it became apparent that they did not have the votes.
