WASHINGTON, DC – Today, Congresswoman Bonnie Watson Coleman released the below statement in response to the passage of H.R. 1, the Tax Cuts and Jobs Act in U.S. House of Representatives:
“I am extremely disappointed that the House has chosen to push through this enormous tax cut for corporations and the rich at the expense of increasing taxes on middle class New Jersey families. Instead of working with Democrats to reform our tax code, Republicans chose to rush through a partisan giveaway to the rich and powerful that adds $1.7 trillion to the deficit, triggers $25 billion in cuts to Medicare, and increases the number of uninsured by 13 million. Republicans have made clear they plan to use these deficits to create a manufactured crisis where they have an excuse to cut vital social programs that seniors and low-income Americans rely on in the coming weeks – including Medicare.
Additionally, this bill is a brazen attack on New Jersey. By limiting the state and local tax deduction, it subjects New Jerseyans to double taxation, devastates property values, and puts state and local budgets at risk, and the communities I represent would be among the hardest hit in the entire nation. Despite Republicans’ claims of trickle down benefits which have not worked since their introduction during the Reagan Administration, it is clear this legislation would be harmful to the vast majority of New Jersey residents.
Republicans are so shameless in this tax scam that their meager benefits for individuals are set to expire, while their most generous tax breaks for businesses are permanent, leaving my constituents and future generations holding the bag for years to come on this heartless scheme.
The American people have made clear they see this GOP tax scam for what it is: a massive tax cut for the President and his rich friends and donors. Americans must remember who stood with them to oppose this legislation and those who voted for the one percent.”