Although lower-earning Americans will pay less on their taxes next year, House Minority Leader Nancy Pelosi (D-CA) said the new tax plan needs to be repealed.
Speaking at a town hall Wednesday, Pelosi said Democrats will repeal the GOP tax law if they take back the House of Representatives in November.
According to NT Network: The moderator of the event asked Pelosi if Democrats would re-write the tax bill from scratch or focus on reversing specific elements.
“One of our complaints about what they did with the tax bill is they did it in the dark of night with the speed of light,” Pelosi said.
Pelosi then declared that Democrats will win back the House in 2018, and after they do, they will work with Republicans to create a new tax bill.
“We’ll sit down at the table and say … what would be a tax bill that creates growth, that creates good paying jobs as it reduces the deficit?” Pelosi said. “It’s not about chipping at this piece or that piece, it’s about a comprehensive look at what our tax policy should be for the future.”
According to the Daily Wire, in previous tax proposals, Pelosi favored a major tax hike which was “particularly focused on punishing” the same “generous corporations” that began giving employees bonuses and raises after President Donal Trump’s tax bill was passed.
They report: In a plan published last month, Congressional Democrats proposed a $1 trillion dollar tax hike, pushing the corporate tax rate from its current 21% to 25%, undoing tax breaks for high earners, and re-instituting a top tax bracket that could tax some Americans at a rate of nearly 40%.