Schumer, Dems Propose Repealing Tax Cuts to Go on Government Spending Spree Schumer, Dems Propose Repealing Tax Cuts to Go on Government Spending Spree – NTK Network

Schumer, Dems Propose Repealing Tax Cuts to Go on Government Spending Spree

As Democrats continue advocating for the repeal and replacement of GOP tax cuts, Chuck Schumer has a new idea: use repeal to go on a federal government spending spree.

By NTK Staff | 03.07.2018 @10:00am
Schumer, Dems Propose Repealing Tax Cuts to Go on Government Spending Spree

‘Repeal and replace’ of the GOP tax cuts has been a Democratic mantra almost since the bill passed in December, but Democrats have not been able to agree on how they’d spend the trillion-plus dollars the government would “[claw] back” under their repeal.

Until now.

Senate Minority Leader Chuck Schumer (D-NY) rolled out a new plan on Wednesday that involves repealing much of the GOP tax cuts and replacing them with … massive amounts of federal government spending on infrastructure.

The Washington Post‘s Mike DeBonis reported:

The proposal to be unveiled by Democratic leaders Wednesday would plow just over $1 trillion into a wide range of infrastructure needs, including $140 billion for roads and bridges, $115 billion for water and sewer infrastructure and $50 billion to rebuild schools.

The spending would be offset by clawing back two-thirds of the revenue lost in the Republican tax bill by reinstating a top income tax rate of 39.6 percent, restoring the individual alternative minimum tax, reversing cuts to the estate tax, and raising the corporate income tax from 21 percent to 25 percent.

It’s hardly surprising that liberal Democrats like Schumer believe money is better spent by the government than it is in the hands of American people who earned it.

What is surprising is that Democrats are so fiercly advocating for repeal of a bill that’s becoming more and more popular, as Americans realize the tax cuts put money back in their pockets.

The Schumer plan puts him in line with far-left groups like Democracy for America and Not One Penny, who are advocating for “repeal and replace,” and with coastal liberals like Mayor Eric Garcetti (D-Los Angeles), a possible 2020 presidential candidate.

But Schumer will receive some establishment help, as well. Just this week, the “nonprofit arm” of the Senate Majority PAC, which supports Democratic efforts to retake the U.S. Senate, announced it will go “on offense” on the tax cuts.

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