NYT Editorial Board Calls The GOP Tax Bill A 'Historic Tax Heist'
- 6 years ago
The New York Times editorial board has slammed the GOP tax bill passed by the Senate early Saturday morning.
The New York Times editorial board has slammed the GOP tax bill passed by the Senate early Saturday morning in a 51-49 vote.
In an opinion piece titled, 'A Historic Tax Heist,' the board notes, the passing of the bill reflects that "the Republican leaders' primary goal is to enrich the country's elite at the expense of everybody else, including future generations who will end up bearing the cost."
"The bill is expected to add more than $1.4 trillion to the federal deficit over the next decade, a debt that will be paid by the poor and middle class in future tax increases and spending cuts to Medicare, Social Security and other government programs," the board adds. "Its modest tax cuts for the middle class disappear after eight years. And up to 13 million people stand to lose their health insurance because the bill makes a big change to the Affordable Care Act."
Meanwhile, President Trump characterized the passing of the bill as a historic achievement.
"We passed the largest tax cuts in the history of our country," Trump told reporters on Saturday. "It was the biggest package in terms of tax cuts ever passed in our country."
The president also wrote in a tweet, "Now these great Republicans will be going for final passage. Thank you to House and Senate Republicans for your hard work and commitment!"
The New York Times editorial board has slammed the GOP tax bill passed by the Senate early Saturday morning in a 51-49 vote.
In an opinion piece titled, 'A Historic Tax Heist,' the board notes, the passing of the bill reflects that "the Republican leaders' primary goal is to enrich the country's elite at the expense of everybody else, including future generations who will end up bearing the cost."
"The bill is expected to add more than $1.4 trillion to the federal deficit over the next decade, a debt that will be paid by the poor and middle class in future tax increases and spending cuts to Medicare, Social Security and other government programs," the board adds. "Its modest tax cuts for the middle class disappear after eight years. And up to 13 million people stand to lose their health insurance because the bill makes a big change to the Affordable Care Act."
Meanwhile, President Trump characterized the passing of the bill as a historic achievement.
"We passed the largest tax cuts in the history of our country," Trump told reporters on Saturday. "It was the biggest package in terms of tax cuts ever passed in our country."
The president also wrote in a tweet, "Now these great Republicans will be going for final passage. Thank you to House and Senate Republicans for your hard work and commitment!"