Democratic Minority Whip Steny Hoyer (Md.) said if Democrats win the House this year, he’s looking to raise “revenues,” an apparent alternative way to say “raise taxes.”
CNBC’s Rebecca Quick asked Hoyer what Democrats would try to do to unravel or change the tax law should they win back the House in the 2016 elections.
The minority whip said Democrats will want to invest in jobs, infrastructure, and jobs skills.
Then, referencing the new tax cuts, which included a reduction in the corporate tax rate, Hoyer said, “we’ll look at some of those resources going to people who are not going to use them to grow the economy.”
“Is that raising the tax rate back again on the highest income earners?” Quick asked.
Hoyer avoided answering the question directly, saying Democrats would “look to revenues.”
“I think certainly we’ll look to have revenues as opposed to simply creating more debt,” Hoyer said, adding that with current federal expenditures, Trump tax cuts will continue to raise the national debt.
Democrats have continually criticized tax reform passed at the end of 2017, with Minority Leader Nancy Pelosi (D., Calif.) and others calling the resulting benefits “crumbs.” Republicans, meanwhile, have touted the resulting middle class tax cuts and the benefits of lowering the corporate tax rate to a globally competitive 20 percent.
NANCY PELOSI HAS BEEN TOUTING A TAX HIKE TOO:
NANCY PELOSI may have just put the last nail in the coffin for the Democrats. The “crumbs”comment must not have damaged the Dems enough. Pelosi just revealed that the Democrats will repeal the GOP tax bill if they win the midterms in November…She thinks she’s got a better idea:
MAKE TAKES HIGHER AGAIN
Pelosi made an appearance at a town hall in Culver City, CA that is part of the “Repeal the Trump Tax” tour. It aims to hold 100 events nationwide on the weekend of April 14 to mark the one-year anniversary of the Tax March.
House Minority Leader Nancy Pelosi (D-CA) said that Democrats would indeed repeal the GOP tax law if they are successful in retaking the House of Representatives this November during a town hall on Wednesday.
The moderator of the event asked Pelosi if Democrats would re-write the tax bill from scratch or focus on reversing specific elements.
CAN YOU BELIEVE PELOSI SAID THIS:
“One of our complaints about what they did with the tax bill is they did it in the dark of night with the speed of light,” Pelosi said.
Pelosi then declared that Democrats will win back the House in 2018, and after they do, they will work with Republicans to create a new tax bill.
WATCH: Nancy Pelosi said that Democrats would indeed repeal the GOP tax law if they are successful in retaking the House in November. https://t.co/RtN4ZVsPBj
— NTK Network (@NTKNet) April 4, 2018