WASHINGTON (AP) – Sounding a discordant note among the positive talk on the tax bill, a number of Republicans are delivering a blunt assessment, casting the bill as a boost to big corporations and the wealthy instead of the middle class.
“Fundamentally if you look at the bulk of the bill, two-thirds of it, it’s tied on the business side,” Rep. Mark Sanford, R-S.C., said Tuesday as leaders in the House and Senate hailed their respective measures as an advantage for working Americans.
Asked why GOP leaders label it a middle-class tax cut, Sanford said, “There is certainly a chicken in every pot, in essence. But, again, look at where the big money is. The big money is on the corporate side.”
Both the House and Senate have passed massive tax bills that would provide steep tax cuts for businesses and more modest tax breaks for families and individuals. The tax cuts in both bills add up to about $1.5 trillion over the next decade.
Expect changes to the final package. California Republicans are pushing to enhance a deduction for state and local taxes. Both the Senate and House bills would limit the deduction to $10,000 in property taxes. Some Republicans from high-tax states want taxpayers to be able to use the deduction for state and local income taxes as well.