Foster Statement on GOP Tax Plan
WASHINGTON, DC - I opposed the Republican Tax Plan, because it is a massive Christmas gift to large corporations and wealthy campaign donors that is paid with more than $1 trillion in new debt that our children must repay in the future. Hardworking Illinois families will be hit especially hard, a cruel blow on top of the $40 billion that Illinois already loses every year because our state pays far more in federal taxes than we receive back in federal spending. Tellingly, the few temporary scraps it provides for the middle class disappear over time, while the tax breaks for corporations and wealthy families increase over time and become permanent. This plan is the very definition of a scam – something that looks good at first but leaves hardworking middle class families and their children holding the bag.
Republicans also failed spectacularly to deliver on their promise to simplify the tax code. With new loopholes for large corporations and wealthy campaign donors and their children, this tax bill will make our tax system so complicated that it will require an additional 500 page book in our tax code. Finally, this plan was concocted in secret and passed without hearings or public input, and it clearly shows the danger of having Trump and the Republicans in control of all of the levers of power in Washington.