'GOP Tax Scam 2.0'? Warnings as Trump Reportedly Pushing Another Round of Tax Cuts Ahead of Presidential Election

Sparking warnings that the Republican Party is preparing another massive gift for the rich and corporations, the Washington Post reported Thursday that President Donald Trump is “agitating to announce a new tax cut proposal heading into the 2020 election.”

According to the Post, the tax cut discussions are being led by National Economic Council director Larry Kudlow, a “Wall Street cheerleader” and fervent believer in the discredited idea of trickle-down economics.

“I would expect this would just be another distraction from the fact that he’s about to be impeached.”
—Rep. Lloyd Doggett

“The early-stage discussions reflect Trump’s desire to refocus the economic narrative amid some signs of a slowing economy,” the Post reported.

Fight for $15 tweeted in response to the Post‘s story that “Trump gave away over a trillion dollars in tax cuts to corporations and billionaires and economic growth slowed to a putter.”

“But they’re hoping to rob as much as they can from the state coffers while they have the chance,” the group tweeted, adding the hashtag #GOPTaxScam 2.0.

Rep. Lloyd Doggett (D-Texas), a member of the Ways and Means Committee, warned that the push for a new round of tax cuts could be a ploy to divert attention from the impeachment process, which is rapidly gaining momentum in the House.

“I would expect this would just be another distraction from the fact that he’s about to be impeached,” Doggett told the Post.

The Trump administration’s latest effort to slash taxes comes as evidence continues to show the GOP’s 2017 tax law has not delivered on its stated promises, such as a boost in economic growth, pay raises for workers, deficit reduction, or a surge in business investment.

The law did, however, further enrich wealthy executives and large corporations, an outcome analysts and advocacy groups predicted from the outset.

“It was a scam the first time around,” said Sen. Chris Van Hollen (D-Md.). “Why would Trump think American workers would want another round of tax cuts for billionaires?”

SCROLL TO CONTINUE WITH CONTENT