WASHINGTON (KDKA) — Tax cuts!
That was President Trump’s goal in calling the Senate Finance Committee, including U.S. Sen. Bob Casey, to the White House on Wednesday.
In his remarks, Trump hailed the Republican tax plan.
“We’ll go from being one of the highest-taxed nations in the world to the one of the lowest taxed, meaning more jobs, higher wages, and more products stamped with the words: Made in the USA,” said the president.
But the plan has been criticized for cutting taxes for the wealthy much more than it does for middle class families.
And that’s what Casey told the president directly.
“I told the president, I said it was a giveaway to the rich, and there are a series of analyses that prove that,” recounted Casey to KDKA political editor Jon Delano. “One is from the Center of Budget Priorities that after 10 years of implementation 80 percent of the tax cuts go to the top 1 percent.”
Casey says the top one percent of income — those making over $730,000 — would get a $146,000 tax cut.
As for the middle class?
Maybe a few hundred dollars, says Casey, and, “some members of the middle class, something on the order of 30 percent of them, would end up paying more taxes a couple years down the road.”
KDKA asked Casey what the president said in response.
“He said he agreed with me that the middle class should get a big tax cut and the rich should not get a tax cut,” said Casey. “In essence, he said that over and over again. But the problem we have with what the president has said and what the Republicans have said is that the rhetoric does not align with the proposal they have right now.”
But Trump insists that reducing business taxes will lead to a $4,000 increase in family income.
“Reducing the corporate tax rate from 35 to 20 percent would increase average household income by $4,000 a year,” said Trump.
This debate is just beginning.