Waters Statement on Tax Day
Rep. Maxine Waters Statement on Tax Day
WASHINGTON – Congresswoman Maxine Waters (CA-43), Ranking Member of the House Financial Services Committee, released the following statement on the deadline to submit individual tax returns to the federal government, which is commonly referred to as “Tax Day”:
“In November 2017, Donald Trump stood before a crowd of hard working Americans and falsely stated that the GOP tax scam bill, ‘would cost [him] a fortune.’ One month later, Donald Trump signed a tax scam bill into law that would reportedly help him earn more than $20 billion a year and line the pockets of the wealthiest one percent of Americans. On this Tax Day, don’t be misled. This was never a tax plan for the middle class; it was a tax scam for Donald Trump and his billionaire allies.
“The GOP tax scam law is another iteration of the failed Republican trickledown economic policies of the past. They didn’t work under President Reagan, they didn’t work under President Bush, and they aren’t working now. Predictably, the Republican corporate tax cuts are going straight to CEOs and shareholders. Because the richest 10 percent of Americans own 80 percent of stock, corporate tax cuts do next to nothing for the middle class. Companies are not hiring more workers and they are not investing more in research and development. Instead, multinational companies are doing what they have always done when given tax breaks: they are sticking to their business plan and pocketing any extra money that comes their way.
“Furthermore, as the GOP tax scam law adds trillions of dollars to the federal deficit, Congressional Republicans have begun to discuss ‘entitlement reform’ in order to clean up the economic disaster they have created. However, their so-called ‘reforms’ are actually heartless and mean-spirited funding cuts to programs like Social Security, Medicare, Medicaid, and Obamacare, all of which provide a safety net for children, veterans, seniors, Americans with disabilities, and other vulnerable communities.
“It should come as no surprise that Donald Trump -- who is the first president in modern history to refuse to release his federal tax returns and who also has a history of defrauding contractors and consumers -- would have signed such shameful tax scam legislation into law. The GOP tax scam law is yet another conscious decision by the president and his Republican allies to rig the system in favor of large corporations, GOP donors, special interest groups, and wealthy individuals like Donald Trump himself. However, make no mistake, I will continue to fight against Republican efforts to sell out working families in favor of the rich.”