Fact vs. Fiction: Senator Perdue Lays Out The Facts About Tax On Fox News
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA) spoke with Shannon Bream on Fox News @ Night to clear up the misinformation about the U.S. Senate’s plan to fix the tax code, help middle-class families, and make America more competitive again.
Fiction: The GOP tax plan will add $1 trillion to the national debt.
Fact: “I am more optimistic that this plan is going to ignite our economy. President Trump said job one was getting our economy going again. We pulled back on regulations, unleashed our energy potential, and now we have an historic opportunity to change the tax code and make American companies and workers competitive again with the rest of the world.”
Fiction: This tax plan is only going to help the wealthy and hurt lower and middle-income Americans.
Fact: “Real Americans are going to benefit from this. A family of four, making the median income of $73,000 a year, will have their taxes cut almost 60%. A single mom with one child, making $41,000 a year, which is the median income for a single worker, will get a 75% tax cut. More importantly, between 3-6 million people are estimated to have their taxes go to zero. The greatest beneficiary of this plan is the person who will get a job because the economy is going to be ignited.”
Fiction: There has been no transparency to this process. The entire process was hidden from the American people and pushed through at the last minute.
Fact: “Over the last few years, there have been over 70 open hearings in the Senate about changing the tax code. This has been a fully transparent process. I hear the rhetoric from the other side. This is all coming from the side who a few years ago had then-Speaker Pelosi say ‘you’ve got to pass the bill to see what’s in it.’ This has been an open process the entire time. This is regular order. It went through committee, where we had amendments offered. We’ll have amendments added to it tonight. All of this has been done in the light of day.”
Fiction: The tax plan will generate very little economic growth.
Fact: “President Trump has really pushed us to make sure this plan will make American businesses grow. I believe we have accomplished that. Today, we have the highest corporate tax rate in the world, and the corporate tax rate is a huge penalty on the American worker. I know because I’ve lived in Asia and worked all over the world. We are now going to become more competitive with the rest of the world.”
Senator David Perdue Comments On Budget Committee Approval Of Tax Plan
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA), a member of the Senate Budget Committee, released the following statement after the U.S. Senate moved one step closer to fixing our tax code this year:
“Changing our tax code for the first time in more than 30 years will increase wages for American workers and make us more competitive with the rest of the world. These tax changes will also increase GDP growth, which is necessary to solve our current debt crisis. If the Senate does not act, the federal government is on track to add $11 trillion to the debt over the next 10 years. Approval from the Budget Committee today was one of the final steps needed to get this across the finish line. It is now critical for Republicans and Democrats to put aside any self-interests and operate with a sense of urgency to get these tax changes done now.”
BKP talks with Heritage Foundation Economist and Trump Leadership Council member Stephen Moore who helped write Donald Trump’s tax plan.