Senate Democrats are threatening to sue the Trump administration over the use of “taxpayer funds” to use taxpayer funds to pay for the use and enforcement of the president’s controversial “tax cuts” on corporations and the wealthy.
The Democratic leaders of the Senate Finance Committee have released a new draft of their tax bill that would use the federal government’s own tax money to fund the use by the Trump Administration of “a single federal tax-credit program.”
The bill, which was released late Tuesday night, would “funds an additional $1.2 trillion in capital expenditures, including $300 billion to finance the construction of a new border wall,” the committee said in a statement.
Senate Finance Committee Chairman Ron Wyden, D-Ore., said in the statement that the proposal “fails to provide the necessary relief for American families and businesses and would be disastrous for working families.”
Wyden has long opposed the Trump tax cuts and, after Trump’s inauguration, has vowed to fight any attempts by the White House to revive the measure.
The “tax relief” provision in the Republican bill would “provide tax relief to taxpayers who are making higher than average income,” the Senate Democrats statement said.
“It is not clear whether the administration will provide additional relief to families making less than $75,000 per year.”
Walgreens and other retail chains have already expressed opposition to the “tax breaks” provision, with Walgreens CEO David Cote writing on Twitter, “This bill will not fund the wall and would harm my employees.
It would be a huge hit for our economy.”
Trump’s budget director, Mick Mulvaney, said the “single federal tax credit program” would “increase spending on the federal Treasury by $1 trillion over 10 years, including a tax cut for the rich and a reduction in the capital gains tax for corporations.”
The budget director said that the “full tax relief” package would also include “new rules that will help middle-class families, and would help them pay their fair share of taxes.”
The “single tax credit” program, which the Democrats are calling the “Trump Tax Cuts,” would cost $1,000 for a family of four, which is roughly $100 more than the current federal tax code.
“Our goal is to help middle class families, especially those struggling to make ends meet, who will pay a greater share of their income in taxes, rather than taking more than they need to,” Wyden said in his statement.
“We must not only save taxpayers money but also make our tax code fairer, so that all Americans have access to the resources they need and deserve.”
Trump said on Tuesday that his “tax cut for middle class” would boost the nation’s economy by $3 trillion.
