THEYRE AFTER YOUR MONEY AGAIN Democrats Want To Repeal Parts Of Tax Bill Raise Taxes
On Wednesday, Senate Democrats launched an attack on the tax overhaul bill that President Trump signed into law in December, proposing raising the corporate tax rate to 25%, after the tax bill had lowered it from 35% to 21%; lowering the estate tax exemption from $11.2 back toward $5.6 million, where it had rested before the tax bill’s passage; and restoring the top individual tax rate to 39.6%, where it had been before the tax bill lowered it to 37%.
The GOP law passed in December in a totally partisan vote; no Democrat voted for it.
As The Wall Street Journal reports, Democrats claimed their tax-raising proposals would generate more investment for infrastructure; Sen. Ron Wyden (D-OR), the top Democrat on the Senate Finance Committee, stated, “They are out scrounging around looking under the sofas trying to find some spare change in order to pay for our infrastructure. We are closing specific and major loopholes.” – READ MORE
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