Sen. Gary Peters on Tax Overhaul: ‘This Is Not Good for Middle Class Americans’
“Republicans just believe they need to do something… it’s been a year and the Trump Administration hasn’t been able to move any legislation.”
Republicans in Congress could send President Trump a major tax overhaul this week.
The U.S. House approved a compromise bill on Tuesday.
The Senate could vote soon on the legislation. It includes major tax breaks for corporations, which would be permanent.
It also includes tax breaks aimed at the middle class, which are set to expire after several years.
The tax plan would also blow a hole in the federal deficit over of more than $1 trillion over the next decade.
Is there anything standing in the way of this bill reaching the president’s desk before the end of the year?
Sen. Gary Peters (D-MI) says Republicans are desperate for a legislative win.
“Republicans just believe they need to do something… it’s been a year and the Trump Administration hasn’t been able to move any legislation.”
Peters tells Detroit Today the plan skews in favor of tax cuts and benefits for corporations and the very wealthy, not the average citizen.
“This is not good for middle class Americans or those who aspire to be in the middle class.”
Click on the audio player above to hear more from Peters, as well as Michigan State University economist Charles Ballard.
