House republicans managed to pass major tax reform legislation Tuesday in Washington, despite the criticism the bill received in the days prior.
Vermont’s sole congressman Peter Welch voted against the plan, calling it a huge tax break for wealthy Americans.
“Vermont taxpayers are going to be hurt,” said Welch D- Vermont.
The plan also calls for the elimination of state and federal deductions which would result in middle-income folks seeing higher taxes.
Welch said, “The middle class is coming up real short in this, the bill is designed for to benefit the donor class… Immediately it won’t make much of a difference but all of us are going to be paying for this because its $2.3 trillion added to the debt.”
Also with the legislation, the corporate tax rate will be lowered from 35 percent to 20. According to the non-partisan Congressional Budget Office, the plan would increase the federal deficit by more than a dollars.
“This bill really does hurt opportunity for kids trying to get an education, frankly the middle class is coming up real short in this and the bill is designed for to benefit the donor class who is fueling in billions of dollars into the political process and polluting democracy,” said Welch.
Meanwhile the senate continues work on its version.