Sanders: At least GOP is being honest that tax bill is written for their donors

Sanders: At least GOP is being honest that tax bill is written for their donors
© Greg Nash

Sen. Bernie SandersBernie SandersButtigieg surges ahead of Iowa caucuses Biden leads among Latino Democrats in Texas, California On The Money: Trump appeals to Supreme Court to keep tax returns from NY prosecutors | Pelosi says deal on new NAFTA 'imminent' | Mnuchin downplays shutdown threat | Trump hits Fed after Walmart boasts strong earnings MORE (I-Vt.) on Wednesday congratulated Republicans for being honest that the GOP tax bill was written for wealthy campaign contributors.

"This tax bill was written for Republicans’ wealthy campaign contributors. I want to congratulate my Republican colleagues for their honesty about that," Sanders tweeted Wednesday.

"There has not been one public hearing, no opportunity to hear from economists, governors, mayors or ordinary Americans who will be impacted by this tax bill. This is a sham," he said in a subsequent tweet.

In a video posted on Twitter, Sanders said that some Republicans have said publicly that if they don't pass this tax bill, their "wealthy friends will stop contributing."

"I appreciate that honesty," he said.

Last month, Sen. Lindsey GrahamLindsey Olin GrahamGOP eager for report on alleged FBI surveillance abuse Johnson opens door to subpoenaing whistleblower, Schiff, Bidens Overnight Defense: Erdoğan gets earful from GOP senators | Amazon to challenge Pentagon cloud contract decision in court | Lawmakers under pressure to pass benefits fix for military families MORE (R-S.C.) said "financial contributions will stop" for the GOP if the party doesn't pass tax reform.

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"The party fractures, most incumbents in 2018 will get a severe primary challenge, a lot of them will probably lose, the base will fracture, the financial contributions will stop, other than that it'll be fine," he said.

Rep. Chris CollinsChristopher (Chris) Carl CollinsOn The Money: Economy adds 136K jobs in September | Jobless rate at 50-year low | Treasury IG to probe handling of Trump tax returns request | House presses Zuckerberg to testify on digital currency Two Collins associates plead guilty in insider trading case On The Money: Trump blames Fed as manufacturing falters | US to join Trump lawsuit over NY subpoena for tax returns | Ex-Rep. Chris Collins pleads guilty in insider trading case MORE (R-N.Y.) also acknowledged last month that he is facing pressure from donors to ensure the GOP tax-reform proposal gets done.

Collins last month had been describing the flurry of lobbying from special interests seeking to protect favored tax provisions when a reporter asked if donors are happy with the tax-reform proposal.

“My donors are basically saying, ‘Get it done or don’t ever call me again,’” Collins replied.

On Wednesday, Senate and House Republicans struck an "agreement in principle" on a sweeping tax-cut bill.

GOP sources familiar with the conference committee talks said negotiators are now just cleaning up some of the details on paying for last-minute changes to the bill, which would lower the top individual tax rate to 37 percent and set the corporate tax rate at 21 percent, according to a person briefed on the package.

President TrumpDonald John TrumpButtigieg surges ahead of Iowa caucuses Biden leads among Latino Democrats in Texas, California Kavanaugh hailed by conservative gathering in first public speech since confirmation MORE and congressional Republicans have pitched their tax-reform effort as delivering much-needed tax cuts to the middle class and U.S. businesses that would boost U.S. economic growth.

Democrats, however, have argued that the tax overhaul would amount to a massive windfall for the wealthiest Americans.