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Dem lawmaker introducing bill to repeal GOP tax cuts

Dem lawmaker introducing bill to repeal GOP tax cuts
© Greg Nash

Rep. Jared PolisJared Schutz PolisColorado legislature approves measure to ban styrofoam, add fee to single use products Colorado to offer ,000 scholarships for young people to get vaccinated Supreme Court justice denies Colorado churches' challenge to lockdown authority MORE (D-Colo.) plans to introduce a bill Wednesday that would undo tax cuts passed late last year. 

The bill, titled the Students Over Special Interests Act, would repeal the GOP tax law and redirect the additional taxpayer money toward erasing student loan debt and improving college affordability.

It is the first piece of legislation that would entirely reverse the tax cuts passed last year.

"The Republican tax plan was all about special interests cashing in at the expense of everyone else. My plan shows what a difference we can make for middle-class Americans for even less cost," Polis said in a statement obtained by The Hill.

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Polis is running for Colorado governor, and will leave Congress at the conclusion of this session.

His bill is unlikely to receive any serious consideration, as Republicans control both chambers of Congress. 

Business Insider first reported on Polis's plans to introduce the bill.

Democrats have been transparent about their desire to undo the Republican tax cuts and redirect the funds elsewhere.

On Tuesday, Senate Minority Leader Charles SchumerChuck SchumerIn Congress, what goes on behind closed doors? Senate Judiciary begins investigation into DOJ lawmaker subpoenas America needs a stable Israeli government MORE (D-N.Y.) and House Minority Leader Nancy PelosiNancy PelosiNew Mexico Democrat Stansbury sworn into Haaland's old seat Greene apologizes for comparing vaccine rules to Holocaust Overnight Health Care: Biden pleads for more people to get vaccinated | Harris highlights COVID-19 vaccination safety | Novavax COVID-19 vaccine shown highly effective in trial MORE (D-Calif.) announced a proposal that would eliminate a tax cut for the top 1 percent of earners and use the new revenue to invest in raises for teachers. 

Republicans passed last year’s tax-cut legislation without a single Democratic vote. Democrats argued the bill disproportionately helped wealthy individuals and corporations. 

Republicans, meanwhile, have seized on Democrats’ pledge to reverse the tax cuts ahead of this year’s midterms, warning voters that they could lose their tax cut if Democrats retake control of Congress.  

--Naomi Jagoda contributed