CHICOPEE, Mass. (WWLP) – President Trump is hailing the sweeping tax overhaul plan unveiled Wednesday as “revolutionary.”
President trump is hailing the republican tax reform proposal as a “once-in-a-generation” opportunity to reshape the economy.
The plan calls for reducing the number tax brackets, slashing the corporate tax rate and enhancing the child tax credit.
Trump said the biggest winners will be middle class workers, and that wealthy Americans won’t reap any rewards.
Democrats are calling the plan a giveaway to the rich.
“The top rate on the wealthiest comes down, and the bottom rate on working class families goes up,” said Senator Chuck Schumer. “What kind of plan is this?”
Independent budget experts warn the proposal could add more than $2 trillion to the debt over the next ten years.