Sen. Chris Van HollenChristopher (Chris) Van HollenGOP tries to take filibuster pressure off Manchin, Sinema Overnight Energy & Environment — Biden set to restore national monuments rolled back by Trump Markey: Senate must pass reconciliation package before global climate summit MORE (D-Md.) hit President TrumpDonald TrumpMcCabe wins back full FBI pension after being fired under Trump Biden's Supreme Court reform study panel notes 'considerable' risks to court expansion Bennie Thompson not ruling out subpoenaing Trump MORE over the GOP tax plan on Friday after Trump signed the bill into law, calling it a “very big Christmas gift from Trump to himself.”
“Here's President Trump's check writing, whoops, I meant bill signing ceremony today,” Van Hollen tweeted.
“How would you like to sign a check over to yourself and your family worth $11M per year? Yes, a very big Christmas gift from Trump to himself.”
Here's President Trump's check writing, whoops, I meant bill signing ceremony today. How would you like to sign a check over to yourself and your family worth $11M per year? Yes, a very big Christmas gift from Trump to himself. https://t.co/D8Cy4k8FqB— Chris Van Hollen (@ChrisVanHollen) December 22, 2017
The New York Times reported Friday that the new tax code could save Trump $11 million, based on information from his 2005 tax return that was released publicly by DCReport.org in March. Trump has not released any of his tax returns himself.
Other Democrats homed in on the Times report, tweeting their opposition after Trump signed the bill.
The only number that ever mattered to @realDonaldTrump? $11M. That’s how much he’ll personally profit from the #GOPTaxScam. Imagine how much more we'd know if he released his tax returns. #trumptaxeshttps://t.co/rsWjVR8IUe— Ed MarkeyEd MarkeyBiden likely to tap Robert Califf to return as FDA head Biden faces pressure to pass infrastructure bills before climate summit Senate Democrat says Facebook offers 'crocodile tears about protecting children' MORE (@SenMarkey) December 22, 2017
Trump just signed #GOPTaxScam. You pay more, so the ultra-rich and powerful corporations pay less:— Senator Jeff MerkleyJeff MerkleySenate to vote next week on Freedom to Vote Act Democrats call on White House to explore sharing Moderna technology abroad Lawmakers introduce bill to limit data collection at border crossings MORE (@SenJeffMerkley) December 22, 2017
- Taxes go up for 86 mil middle-class families by 2027
- Health care premiums rise
- 13 mil lose health care
… but don’t worry, the rich and powerful get trillions in tax breaks!
Your tax break: a few hundred dollars, then a tax hike.— Senator Mazie HironoMazie Keiko HironoThe Hill's Morning Report - Presented by Facebook - Senate nears surprise deal on short-term debt ceiling hike Democrats downplay deadlines on Biden's broad spending plan Senate poised to stave off debt crisis MORE (@maziehirono) December 22, 2017
Trump’s tax break: $11 Million.
That’s bad math for families in Hawaii. https://t.co/tV2FqQn7w4
Trump has repeatedly insisted that he would not benefit personally from the tax overhaul, despite several analyses showing that he and his family would benefit.
Over the past few months, Trump and the GOP have touted the bill as a “Christmas gift” to middle-class families, noting that every tax bracket would get a tax cut in 2018.
Democrats have criticized the bill, however, arguing that it would benefit corporations and the wealthy, while hurting middle-class and low-income Americans. They note that most of the tax cuts for individuals expire after 2025, while the ones for corporations are permanent.
Trump signed the bill into law on Friday, marking his first major legislative victory since taking office. He said the decision to sign the bill was made late and because of criticism in the media about it being delayed.
Many lawmakers left town after passing a stopgap spending bill on Thursday. As a result, the president wasn't surrounded by congressional GOP leaders who helped shepherd the bill to him when he signed it.