GOP proposal slashes $5.8 trillion from workforce training, college affordability, Medicare, Medicaid, health care for veterans and other critical services.
PAWTUCKET – Following a tour of the Community College of Rhode Island’s (CCRI) advanced manufacturing training facility in Warwick, Democratic Policy and Communications Committee (DPCC) Co-Chair David N. Cicilline (RI-01), Democratic Leader Nancy Pelosi (CA-12), U.S. Senator Sheldon Whitehouse, and U.S. Congressman Jim Langevin (RI-02) spoke about the ways Rhode Island will be negatively impacted by the new Republican proposal to cut taxes for billionaires and rig the tax-code to benefit wealthy special interests at the expense of working people.
In addition to raising taxes on the middle class, the Republican plan cuts $5.8 trillion from workforce training, college affordability, health care for veterans, Medicare, Medicaid, and other critical services. It will expand the deficit by $1.5 trillion. And 173,000 Rhode Islanders will see their taxes go up because they will lose the ability to deduct state and local taxes on their federal return.
They also highlighted how the Democratic economic agenda – A Better Deal: Better Jobs, Better Wages, Better Future – will strengthen advanced manufacturing; create 10 million full-time, good-paying jobs; and lower the cost of living for working people.
“The GOP tax plan is a sham. It’s a massive giveaway to the wealthiest Americans. It guts Medicare and Medicaid. And it undermines investments in manufacturing that are helping put Rhode Islanders to work,” said Cicilline. “Our Better Deal agenda puts working families first by supporting investments to create 10 million new good-paying jobs. By doubling federal investments in apprenticeships to offer new opportunities to workers, and offering new tax incentives to employers to invest in their workforce through training and education — we’ll not only improve individual lives, we’ll make American manufacturing competitive in the global economy.”
«Democrats know that a successful middle class is the backbone of our economy,» said Democratic Leader Nancy Pelosi. «While Republicans try to rob hard-working Americans of the student loan interest deduction, credits for lifetime learning and tax-free tuition assistance from employers just to give billionaires and corporations tax cuts, Democrats are offering students and working families A Better Deal. We are committed to giving every American the tools to succeed in the 21st century economy, and are fighting to build an economy that works for everyone, not just the Republicans’ corporate and high-end friends.»
Once again, Republicans are hoping to race massive changes into law before the American people see it’s just another GOP multi-trillion dollar giveaway to the wealthiest and corporate America, at the expense of the middle class and working Americans.
· Raises Taxes on the Middle Class – taxes will be raised on millions of families across America.
· Add Trillions to the Debt to Give Tax Cuts to America’s Wealthiest & Corporations – while stripping credits and deductions from middle class families.
· Includes Tax Incentives for Corporations to Ship American Jobs Overseas – eliminating jobs, and driving down American wages & salaries.
· Budget Ransacks Medicare & Medicaid of $1.5 Trillion – GOP will also use new deficits to justify further devastating Medicare & Medicaid.
“We need a tax code that works better for middle-class families, and the Trump tax plan would move us in the wrong direction,” said Senator Whitehouse. “The only clear winners under this proposal are the very wealthy and large multi-national corporations. Even after eliminating deductions for the middle class, the Trump plan would balloon the deficit by trillions of dollars and set the table for Republicans to cut Social Security and Medicare down the road. Democrats want to deliver A Better Deal for middle-class families, including tax reforms that prevent the jobs we have from being moved overseas, creating more good-paying jobs, and helping families save for retirement.”
“The Republican tax plan will disproportionately benefit the wealthy while leaving crumbs for the middle class,» said Langevin. «It will add trillions to the national debt and raise taxes for millions of hardworking families. Americans deserve a better deal through a fair and balanced tax code that allows everyone to get ahead.”
The Democratic economic agenda – A Better Deal: Better Wages, Better Jobs, Better Future – provides the much-needed investment to train American workers for the jobs of the 21st Century.
· Expand Registered Apprenticeships and Work-Based Learning Programs – doubling federal support for registered apprenticeship programs for millions of Americans.
· Provide a New Tax Credit to Employers to Train and Hire New Workers – reorienting our tax code to be on the side of the worker and encourage investment in hard-working Americans.
· Create a Network of Thousands of Partnerships between Businesses, Career Technical Programs, Public Schools and Community Colleges – giving employers a role in curriculum development and providing on-site experience and other educational opportunities to ensure students graduate with the tools and skills they need to succeed and get a job.
For more information on the Democrats’ Better Deal agenda, visit https://abetterdeal.democraticleader.gov/