Rep. Watson Coleman Statement on Ryan-McConnell Tax Framework
Today, Congresswoman Watson Coleman released the following statement on the Ryan-McConnell tax framework:
“With the release of their hyper-partisan tax outline, Republicans did exactly what we expected. Slashing taxes for the rich on the backs of hardworking Americans while leaving Democrats - who are eager to produce meaningful and bipartisan solutions - on the sidelines.
Their proposal also eliminates personal exemptions and deductions like the state and local tax credit. New Jersey residents already pay the highest effective tax rate in the United States and by eliminating these deductions; NJ residents would pay an additional $3,500 per year in taxes, according to the Tax Policy Center.
The Republican fixation on long-discredited trickle-down economics will only serve to blow a hole in our federal budget, drastically increase the debt, and threaten to slash vital federal programs that Americans rely on every day.
While our current tax system needs reform, these changes cannot be on the backs of hard-working and low-income Americans. Our tax system must be a vehicle to level the playing field and encourage economic growth, development and job creation but also, fairness; this Republican proposal hardly scratches that standard.
I stand ready to work with Republicans in good faith to improve the tax code, but unfortunately this tax proposal is their latest example of partisanship over consensus-building.”