Washington, D.C. – Congressman Dave Loebsack released the following statement today after the House passed H.R. 1, the Republican’s tax plan. In a guest column, Loebsack had previously laid out his vision for what he believes should have been included in any tax proposal.
“The tax plan that was rushed through the House by Republicans will hurt everyday Iowans. The plan slashes taxes for millionaires, billionaires and corporations, while many middle class families, small businesses, seniors, teachers and veterans will be faced with an increase. On top of that, the bill cuts Medicare, Medicaid, education and job training initiatives in order to finance these tax cuts. That is unconscionable.
“In order to truly get the economy going we must reward hard work and incentivize and encourage companies to invest in jobs here at home and not ship them overseas. We also must address our nation’s debt in a reasonable way, not explode it by over $1 trillion, as this tax plan does. Finally, I believe that we must ensure that the millionaires, billionaires and corporations pay their fair share. It is wrong to give special breaks to the wealthiest at the expense of hard working Iowans.”