Details about the recently passed Republican tax bill leaked online, which opponents are calling the "Tax Scam Bill." They are also using the hashtag #TaxScamBill to explain their frustrations with the tax reform bill, voicing concerns that the bill will be harmful to most Americans while rewarding for the wealthiest one percent of the nation.
Local news station NBC 10 in Philadelphia reports: "While many Americans were sleeping, the U.S. Senate approved a nearly $1.5 trillion tax bill. Another tax bill has passed the House, so now there will be negotiations to figure out what the final plan looks like."
Are you wondering how much you gain or lose in your taxes with the new Senate tax bill?
These CBO charts, shared on PBS News Hour, show how taxes for individuals will change in the following consecutive years. First, they look at each family/taxpayer bracket's gain or loss. Then they look at the benefits or drawbacks of the Senate plan to those income levels.
As you can see, these numbers completely contradict the repeated assurances from our current president that this tax break will be the biggest in United States history.
Well, it still is - for the one percent.
"Biggest Tax Bill and Tax Cuts in history just passed in the Senate. Now these great Republicans will be going for final passage. Thank you to House and Senate Republicans for your hard work and commitment!"
In other words, President Donald Trump is lying, again.
And he's not the only one lying:
Senate majority leader Mitch McConnell swears that everyone had a chance, and ample time, to read the 500-plus page document before the vote.
"Everybody had plenty of opportunity to see the measure. You complain about process when you're losing & that's what you heard on the floor tonight"
Senator Elizabeth Warren calls bullshit.
A vote that will live in infamy.
"This vote will live in infamy. It eviscerates the last vestige of Congressional integrity and does irreparable damage to our once proud Republican Party. It will not stand. #GOPTaxScam"
Even the wealthy are furious.
"#MAGA folks who are cheering this #TaxScamBill and trying to troll me, listen up. This will probably help my family due to our income bracket. I'm angry because it SCREWS YOU, millions of middle class Americans, and an entire generation now saddled with a $1.5 trillion debt."
"Same here. My family and I are lucky enough to be financially secure, and not in need of a tax cut. Now I’ll get one, at the expense of millions who really do need it. It’s not right."
In the eleventh hour, Republican Senators scribbled personal perks into the bill.
House Representative Paul Tonko shared via Twitter a photo of the scribbled in perks.
"Furious about extra goodies for private jet owners & personal perks that Republican senators scribbled into the margins of their tax bill last night?
This is not over. House & Senate need to reconcile their versions & vote one more time.
Your voices matter, now more than ever."
The Republican Tax Bill is historically unpopular.
This tax bill is bad for so many Americans.
How will it affect you?
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