DCCC slams Ways and Means Republicans for tax vote

At Wednesday’s Ways and Means markup, Rep. Xavier Becerra (D-Calif.) also identified Larry Flynt, Donald Trump and abortion providers as among the potential beneficiaries of the GOP proposal. Rep. Sandy Levin (D-Mich.), the ranking member on Ways and Means, cited a Tax Policy Center analysis that said that those making north of $1 million would get 49 percent of the tax cut’s benefits.

ADVERTISEMENT
The DCCC release was also sent to the districts of Reps. Jim Gerlach (R-Pa.), Erik Paulsen (R-Minn.), Tom Reed (R-N.Y.), Dave Reichert (R-Wash.) and Paul Ryan (R-Wis.), all of whom the campaign committee sees as potentially vulnerable.

Republicans have said the small-business tax cut, which has been championed by House Majority Leader Eric Cantor (R-Va.), would give needed assistance to small businesses while policymakers work toward a comprehensive overhaul of the tax code.

GOP lawmakers have pushed a similar proposal in past years. But, unlike those measures, the current $46 billion legislation does not exempt financial services providers, country clubs and professional sports teams, among other industries.

Under the measure, which the House hopes to pass by around the mid-April tax deadline, eligible businesses would get to deduct 20 percent of their 2012 income, and the tax cut would be limited to 50 percent of a company’s W-2 wages.

Senate Democrats have unveiled their own small-business tax cut that would be available to companies that add payroll, either by bringing on new employees or offering raises to current workers.

More in News

Illinois Republican tapped to replace Schock on Ways and Means

Read more »