Dem rep: Trump's tax plan as believable as 'magic, unicorns or Batman'

Rep. Ted Lieu (D-Calif.) blasted President Trump’s proposed tax reform policy on Monday, calling it “voodoo economics on steroids" that's as credible as the existence of "magic, unicorns, or Batman."

Lieu joined a host of other lawmakers who have slammed Trump’s proposed tax reform. 

House Minority Leader Nancy Pelosi called the proposal “a wish list for billionaires,” and Sen. Bernie SandersBernard (Bernie) SandersHow to stand out in the crowd: Kirsten Gillibrand needs to find her niche Biden, Sanders edge Trump in hypothetical 2020 matchups in Fox News poll O'Rourke tests whether do-it-yourself campaign can work on 2020 stage MORE (I-Vt.) said Trump’s plan would make the “rigged economy” even worse.

National Economic Council Director Gary Cohn and Treasury Secretary Steve Mnuchin unveiled Trump's plan Wednesday. The proposal would lower the tax rate for corporations from 35 percent to 15 percent and would reduce the number of individual income tax brackets from seven to three, among a host of other changes.

"It's a great plan," Trump said as he signed an executive order at the White House. "It's going to put people back to work."

Trump’s plan came with few specifics, but congressional GOP leadership said they plan to use the proposal as a “guidepost” for tax reform legislation. 

“Getting tax rates down for American companies, big and small, will create new jobs and make the United States a more inviting place to do business,” Speaker Paul RyanPaul Davis RyanFormer Dem candidate says he faced cultural barriers on the campaign trail because he is working-class Former House candidate and ex-ironworker says there is 'buyer's remorse' for Trump in Midwest Head of top hedge fund association to step down MORE (R-Wis.), Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellLessons from the 1999 U.S. military intervention in Kosovo Five things to watch as AIPAC conference kicks off Romney helps GOP look for new path on climate change MORE (R-Ky.) and the heads of the House and Senate tax-writing committees said in a joint statement.