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New CBO Analysis: Heller’s Tax Bill Would Have Large, Harmful Effects on the Nation’s Poorest

A new report from the nonpartisan Congressional Budget Office continues to prove that Senator Heller has broken yet another promise to Nevada families. Instead of delivering a bill that provides meaningful tax relief for all Nevadans, Senator Heller and his Republican colleagues are pushing a scam that will actually hike taxes and health care costs for many middle-class and lower-income families.

Nevada State Democratic Party spokesperson Sarah Abel released the following statement:

“While Senator Heller’s ultra-wealthy donors are likely getting ready to pop champagne, the evidence keeps piling up that the Republican tax plan will have disastrous effects for regular people struggling to make ends meet. At its core, Senator Heller’s tax bill is a giveaway to the rich and a gut punch for working families.”

Washington Post: Senate GOP tax bill hurts the poor more than originally thought, CBO finds

The Senate Republican tax plan gives substantial tax cuts and benefits to Americans earning more than $100,000 a year, while the nation’s poorest would be worse off, according to a report released Sunday by the nonpartisan Congressional Budget Office.

Republicans are aiming to have the full Senate vote on the tax plan as early as this week, but the new CBO analysis showing large, harmful effects on the poor may complicate those plans. The CBO also said the bill would add $1.4 trillion to the deficit over the next decade, a potential problem for Republican lawmakers worried about America’s growing debt.

Democrats have repeatedly slammed the bill as a giveaway to the rich at the expense of the poor. In addition to lowering taxes for businesses and many individuals, the Senate bill also makes a major change to health insurance that the CBO projects would have a harsh impact on lower-income families.

Read more.

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