Foster Statement on Passage of GOP Tax Plan
WASHINGTON, DC - I opposed the Republican tax plan because it will raise taxes on middle class families in Illinois, slash Medicare by 25 billion dollars next year, and pass on trillions of additional debt for our children to pay – all in order to provide massive permanent tax breaks for large corporations and the very wealthy. Rather than an honest attempt to simplify and reform our tax code, this bill is an excuse to give wealthy families and their children a permanent tax break while increasing the national debt by trillions of dollars.
The Republican tax plan would be a disaster for Illinois taxpayers who rely on the state and local tax deduction. Illinois simply cannot afford changes to the tax code that steer billions of dollars out of Illinois. Illinois already loses tens of billions of dollars every year because we pay far more in federal taxes than we get back in federal spending. I am very disappointed that all of my colleagues in “Payer States,” including Illinois, New York, New Jersey, and California, did not stand up for their taxpaying constituents and oppose this plan.
The Republican tax plan will hurt families that rely on provisions that help pay for their children’s education and student loans, and for students who use tuition waivers to help them pursue advanced degrees. The United States is a leader in innovation and technology thanks to the support we give individuals who pursue higher education. An advanced degree should not become a benefit only wealthy families can afford.
I am committed to working on bipartisan tax reform that simplifies our tax code and benefits hardworking Americans. Such a plan would require the wealthy to pay their fair share in taxes and provide tax relief to hardworking Americans. But the plan that passed today is not the kind of tax bill we need to build an economy and a country that works for everyone.