NJ-7 Congressional Candidate Linda Weber’s Statement on the Passage of the Republican Tax Plan That Is a Massive Transfer of Wealth from the Middle Class to Corporations and Ultra-Rich Donors

This is a sad day for our country. At a time when the middle class is shrinking, when substantial investment in our crumbling infrastructure is needed, and when 9 million low-income children and pregnant women are at risk of losing their healthcare coverage, Republicans in Congress have passed a tax bill that ultimately amounts to a massive transfer of wealth from middle and working-class families to large corporations and ultra-rich donors. This is beyond shameful.

The richest 1% now own 40% of the nation’s wealth, the highest share in more than 60 years, while millions of Americans have not seen even a modest wage increase in years. By 2027, over 80% of the benefits of this tax bill will go to the richest 1%, and middle and working-class families will see their taxes rise. Moreover, this bill includes provisions that are specifically designed to personally benefit Donald Trump and multimillionaire Republicans in Congress.

To make matters worse, this bill will balloon the deficit, which is already being used as an excuse by Speaker Paul Ryan to cut Social Security, Medicare, Medicaid, and other social safety net programs that Americans pay into and on which many rely. Now is the time we should be working to rebuild the ladder of opportunity by increasing the minimum wage and investing in infrastructure, education, and job training.

As destructive as this bill is for the country, it is far worse for New Jersey families who already pay billions of dollars more in federal taxes than they get back. I pledge that, if elected, I will work to pass true tax reform aimed at creating growth and benefiting the families of New Jersey. Leonard Lance broke his promise to fight against this bill and cast a critical a vote to send it to conference, allowing for its ultimate passage. New Jersey’s families deserve better.