Engel Statement on GOP Tax Scam 2.0

Engel Statement on GOP Tax Scam 2.0

Congressman Eliot L. Engel issued the following statement on the passage of H.R.6760 in the House today:

“Because the first tax scam perpetrated against the American people wasn’t enough, today House Republicans pushed another round of tax cuts designed entirely to line the pockets of big corporations and the wealthiest one percent. Their commitment to bad ideas would be shocking if not for the fact that they’ve espoused these same failed principles of trickle-down economics for more than 40 years. This bill is just a natural extension of that ridged conservative ideology and should have been rejected outright.

“The GOP’s first tax scam added nearly $2 trillion to the national debt over the next 10 years. Tax scam 2.0 will add trillions more, which in turn will be used as an excuse by Republicans to cut Social Security, Medicare, and other critical federal programs down the line. Also like its predecessor, this new tax scam disproportionately hurts states like New York by making permanent the cap on State and Local Tax (SALT) deductions for individuals, while corporations continue to be uncapped. This maneuver specifically hurts my constituents, as New Yorkers living in a donor state we already pay more to the federal government than we get back.

“I called the first tax scam, which I voted NO on, ‘one of the worst bills I have ever seen in the House.’ This one was no different. Every House Member from New York, regardless of party, should have voted against this bad bill.”