Paul Spencer, Democratic Candidate for Arkansas’ Second Congressional District, released the following statement regarding the "Tax Cuts and Jobs Act" released today by House Republicans.
Candidate Spencer provided the following statement:
Today, Paul Ryan and House Republicans released their plan for “tax reform” and made it obvious how beholden they are to their corporate donors. While many Representatives, including French Hill, loudly proclaim this plan to be a “middle class tax cut,” the GOP plan overwhelmingly benefits the wealthiest and most privileged members of our society. It cuts the corporate tax rate to 20% and aims to repeal the estate tax, which applies only to estates with a value exceeding $5 million, within six years. Other proposed “reforms” in this plan, such as the elimination of the medical expense deduction and raising the lowest income tax rate from 10% to 12%, would actually cause many middle-class families to see a tax increase.
This bill is clear evidence that the only individuals who are well represented in Congress are the political donor class, who will receive the greatest benefit from it. Representatives like French Hill clearly have the best interests of these donors in mind, rather than those of the actual people they represent, when they propose legislation such as this tax plan. By being beholden to special interests, these Representatives perpetuate the economic injustice under which so many Americans suffer. It is time to elect a Representative for the Second District with a record of fighting big money, and who will support legislation that prioritizes the needs of working families rather than the needs of the highest bidder.