Ohioans in Congress have Vastly Different Views of Tax Reform Bill
WASHINGTON (WCMH) — Republicans are on their way to delivering a big win to President Donald Trump: a sweeping tax reform package.
Congressional representatives from Ohio disagree on what the bill means for Ohioans. Republican Senator Rob Portman is an architect of the tax reform measure and says it will help the middle class.
“The median income family in Ohio will see about a $2,375 tax cut,” Portman said. “If you’re making $50,000 a year, it’s about a 36% tax cut. If you are making $58,000 a year, it is about a 20% tax cut. If you are making $180,000 year, it is an 8% tax cut.”
Portman also says the bill will spur economic growth with tax savings for businesses creating more jobs with higher wages.Portman also says the bill will spur economic growth with tax savings for businesses creating more jobs with higher wages.
Portman’s colleagues on the other side of the aisle have a totally different view of the bill. Democrats say the tax plan will hurt middle-class families by eliminating deductions for things like state and local taxes. They also say the plan delivers the greatest level of relief for the ultra-rich.
“It is a tax hike,” said Congresswoman Joyce Beatty. “It will cause problems for seniors, millennials, college students and hard-working Americans.”
Beatty says the bill will limit deductions for property taxes, mortgages, and payments on student loan interest. She also said that the provision that repeals the individual mandate for health insurance under the Affordable Care Act, also known as Obamacare, will hurt more Americans.
“It is going to take away $25 billion from Medicare,” she said. “When you look at the deficit that it is going to put this country in, it bothers me that this trickle-down effect is going to help the wealthiest folks.”