WASHINGTON, D.C. – Today, U.S. Representatives Bill Pascrell, Jr. (NJ-09), a member of the Ways and Means Committee, issued a statement on President Trump’s tax reform plan.
“Trump’s tax plan is a rerun of the failed supply-side economics that exploded our deficit during the George W. Bush administration,” said Rep. Pascrell. “Tax cuts for the wealthy do not pay for themselves, do not create jobs, and do not ‘trickle down.'”
“Furthermore, this plan amounts to a massive corporate tax cut at the expense of working Americans by eliminating deductions New Jerseyans rely on like the state and local tax deduction. I am for reducing corporate taxes, but not on the backs of the middle class,” said Rep. Pascrell. “I can’t imagine any New Jersey legislators supporting this proposal.”
“And it’s unacceptable that the President has not shown us his tax returns – so there is no way to know how this proposal would personally benefit himself or his businesses,” said Rep. Pascrell.