Kaptur: Republicans shouldn’t ram through tax cuts for corporations
Washington, D.C. – Congresswoman Marcy Kaptur (OH-09), the Dean of the Ohio Delegation, released the following statement after the release of the Republican tax plan which lowers the rate on corporations by about 40 percent and throws into question many deductions that every day Americans rely on to pay for it. According to the Washington Post, the bill would add $1.5 trillion to the debt over 10 years.
"This is like the health care debate all over again, lobbyists know more about this plan than many Members of Congress," said Kaptur. "This process has nothing to do with preventing job outsourcing or creating jobs or putting money in people's pockets. It has everything to do with promises made by Republican lawmakers to wealthy, corporate donors."
"In 1986, during the last large alteration to the tax code, which was by no means perfect, there were dozens of hearings before a bill was marked up, and now, not a single one. Republicans are trying to hurry up and stuff this bird full of tax breaks for the donor class and leave hard-working Ohioans with the scraps for Thanksgiving," Kaptur continued.
Kaptur took to the House floor this week to discuss principles regarding what a good tax reform plan looks like, and opposed Republican backroom deals, being negotiated in secret. Watch the video here.
House Republicans are proposing lowering the corporate tax rate from 35 percent to 20 percent and eliminating parts of the state and local income tax deduction, which about one out of every four Ohioans utilize, with an average deduction of $10,444 (more about this can be seen here).
Kaptur spoke to MSNBC's Chris Matthews earlier in October regarding the Republican tax proposal. Watch that segment here. Also, Kaptur is one of the few Members of Congress who voted no on the 1986 tax agreement, citing a deal that contained tax cuts for the rich without any requirements that major corporations do not ship jobs overseas. She called the move "a bad deal then and a bad deal now."