{"id":1027924,"date":"2023-10-31T17:56:23","date_gmt":"2023-10-31T17:56:23","guid":{"rendered":"https:\/\/democrats.org\/?p=1027924"},"modified":"2023-10-31T17:56:23","modified_gmt":"2023-10-31T17:56:23","slug":"maga-mikes-first-act-as-speaker-cut-taxes-for-the-ultra-wealthy-and-corporate-cheats-at-the-expense-of-our-allies-and-hardworking-americans","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/maga-mikes-first-act-as-speaker-cut-taxes-for-the-ultra-wealthy-and-corporate-cheats-at-the-expense-of-our-allies-and-hardworking-americans\/","title":{"rendered":"MAGA Mike\u2019s First Act As Speaker: Cut Taxes for the Ultra-Wealthy and Corporate Cheats at the Expense of Our Allies and Hardworking Americans"},"content":{"rendered":"\n
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In response to MAGA Mike tying funding for Israel to rolling back deficit-reducing provisions in the Inflation Reduction Act that ensure the ultra-wealthy and mega corporations pay their fair share of taxes just like working and middle class families do, <\/em>DNC spokesperson Sarafina Chitika released the following statement:\u00a0<\/em><\/strong><\/p>\n\n\n\n

\u201cMAGA Mike\u2019s first foray as speaker shows Americans where he stands: on the side of big corporations and the ultra-wealthy, at the expense of hardworking families and our allies around the world. Mike Johnson is toeing the MAGA party line with a disastrous plan that would add to our deficit, give a hall pass to corporate tax cheats, and undermine the safety of our allies around the world by holding up critical aid. At a time when President Biden is providing steady leadership at home and abroad, MAGA Republicans on the campaign trail and in the halls of Congress are proving once again that they\u2019re too dangerous and out of touch to lead.\u201d<\/p>\n\n\n\n

MAGA Mike hit the ground running by holding up Israel aid to advance his own agenda \u2014 attempting to give the ultra-wealthy a hall pass at the expense of our working families and our allies abroad.<\/strong><\/p>\n\n\n\n

Forbes<\/a>: \u201cNew House Speaker Mike Johnson Ties Funding For Israel To IRS Budget Cuts\u201d<\/p>\n\n\n\n

HuffPost<\/a>: \u201cTo Pay For Israeli Aid, GOP Wants To Make It More Expensive For You To File Your Taxes\u201d<\/p>\n\n\n\n

NBC News<\/a>: \u201cA new bill House Republicans released Monday includes $14.3 billion in emergency funding for Israel while rescinding the same amount of IRS funding from the Inflation Reduction Act, a major climate, health care and tax law Biden signed last year.\u201d<\/p>\n\n\n\n

Johnson\u2019s plan to cut IRS funding from the Inflation Reduction Act is yet another example of Republicans\u2019 extreme MAGAnomics agenda \u2014 it would cut taxes for the wealthiest Americans while adding BILLIONS to the deficit.<\/strong><\/p>\n\n\n\n

Semafor<\/a>: \u201cThe Committee for a Responsible Federal Budget said the GOP bill would add about $30 billion in red ink over a decade. Other independent analyses indicate IRS funding provides at least a two-fold return from stepping up audits on the ultra-rich.\u201d<\/p>\n\n\n\n

Steven Rattner, MSNBC economic analyst<\/a>: \u201cCutting funds from the IRS *costs* the government money in the form of lost revenue. That is not an offset.\u201d<\/p>\n\n\n\n

Rattner<\/a>: \u201cTo reiterate: offsetting gov’t spending by cutting the IRS budget is like offsetting a fire with gasoline.\u201d<\/p>\n\n\n\n

NBC News<\/a>: \u201cThe nonpartisan Congressional Budget Office has projected that the funds [for the IRS from the Inflation Reduction Act] will \u2018increase revenues by approximately $200 billion\u2019 over a decade.\u201d<\/p>\n\n\n\n

Johnson\u2019s proposal is in line with Donald Trump and other 2024 Republicans who have repeatedly railed against the Inflation Reduction Act and proposed eliminating it entirely.<\/strong><\/p>\n\n\n\n

Insider<\/a>: \u201cFormer President Donald Trump<\/strong> on Friday slammed the Democratic-led climate, health, and tax bill, arguing that Republican Senate Minority Leader Mitch McConnell of Kentucky was \u2018taken for a ride\u2019 by Sen. Joe Manchin of West Virginia.\u201d<\/p>\n\n\n\n

Haley<\/strong><\/a>: \u201c[The Inflation Reduction Act] is a communist manifesto.\u201d<\/p>\n\n\n\n

DeSantis<\/strong><\/a>: \u201cYou know, the good thing is I think there’s a pretty clear path to being able to reverse a lot of this stuff. The things he’s doing through executive order, you could reverse right away. But even what they did with the Inflation Reduction Act, they passed that via budget reconciliation in the Senate. So with 50 votes, I think, you know, we win the presidency, I’m pretty sure we would win the Senate and keep the House. And so at that case, what they put in by reconciliation, you could repeal by reconciliation.\u201d<\/p>\n\n\n\n

Scott<\/strong><\/a>: \u201cI would simply eliminate the IRA, the Inflation Reduction Act, which of course, is a lie from the pit of hell. \u2026 I would start the process of gutting that legislation.\u201d <\/p>\n\n\n\n

Christie<\/strong><\/a>: \u201cThe Inflation Reduction Act was a mistake.\u201d<\/p>\n\n\n\n

Burgum<\/strong><\/a> on whether he would push to repeal the IRA: \u201cYeah.\u201d<\/p>\n\n\n\n

KARK<\/a>: \u201cIn a statement Thursday, Gov. Asa Hutchinson<\/strong> came out in opposition to the Inflation Reduction Act, currently under debate in the senate. The act, a significant part of the Biden presidential agenda, puts billions of dollars into energy extraction and IRS enforcement, as well as health care reforms in Medicare drug pricing and Affordable Care Act extension.\u201d<\/p>\n\n\n\n

Johnson\u2019s MAGAnomics plan to cut taxes for the ultra-wealthy comes as 2024 Republicans are vowing to make permanent Donald Trump\u2019s tax giveaways for the ultra-wealthy that left working families behind.<\/strong><\/p>\n\n\n\n

CBS News<\/a>: \u201cTwo years after Trump tax cuts, middle-class Americans are falling behind\u201d<\/p>\n\n\n\n

The Guardian<\/a>: \u201cThey were billed as a \u2018middle-class miracle\u2019 but according to a new book Donald Trump\u2019s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.\u201d<\/p>\n\n\n\n

Trump<\/strong><\/a> on whether his second-term tax policies would echo those of his first term: \u201cYeah, and I\u2019d do even more taxes.\u201d<\/p>\n\n\n\n

DeSantis<\/strong><\/a>: \u201cThe current rates that are due to expire, we want to keep those rates in place.\u201d <\/p>\n\n\n\n

Brian Sullivan: \u201cYou\u2019d keep those cuts going?\u201d<\/p>\n\n\n\n

DeSantis: \u201cYeah, we don\u2019t want to see increases in taxes.\u201d<\/p>\n\n\n\n

Scott<\/strong><\/a>: \u201cThat 2017 tax reform bill\u2014I was one of the four key authors of that bill. I\u2019m excited about continuing to extend and making permanent those tax cuts.\u201d<\/p>\n\n\n\n

Haley<\/strong><\/a>: \u201cWell, I think what I\u2019d like to see is us go back to what Trump had under the tax cuts under him \u2026 I was there.\u201d<\/p>\n\n\n\n

Christie<\/strong><\/a>: \u201cFirst of all, we need to extend the Trump tax cuts. I think those need to be extended.\u201d<\/p>\n\n\n\n

Ramaswamy<\/strong><\/a> on making permanent or expanding the Trump tax cuts: \u201cI\u2019d go a little further, Larry, than that, to be honest with you.\u201d<\/p>\n\n\n\n

Burgum<\/strong><\/a> in 2018: \u201cI believe in these economic policies, I believe the tax bill is a great thing.\u201d<\/p>\n\n\n\n

Hutchinson<\/strong><\/a> in 2018: \u201c\u200b\u200bPresident Trump’s #SOTU speech was good news for Arkansas as conservative policy changes in D.C. have led to tax cuts.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

In response to MAGA Mike tying funding for Israel to rolling back deficit-reducing provisions in the Inflation Reduction Act that ensure the ultra-wealthy and mega corporations pay their fair share of taxes just like working and middle class families do, DNC spokesperson Sarafina Chitika released the following statement:\u00a0 \u201cMAGA Mike\u2019s first foray as speaker shows […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1027924","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nMAGA Mike\u2019s First Act As Speaker: Cut Taxes for the Ultra-Wealthy and Corporate Cheats at the Expense of Our Allies and Hardworking Americans - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/maga-mikes-first-act-as-speaker-cut-taxes-for-the-ultra-wealthy-and-corporate-cheats-at-the-expense-of-our-allies-and-hardworking-americans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-31T17:56:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2023\/10\/image-27.png?w=1024\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/maga-mikes-first-act-as-speaker-cut-taxes-for-the-ultra-wealthy-and-corporate-cheats-at-the-expense-of-our-allies-and-hardworking-americans\/\",\"url\":\"https:\/\/democrats.org\/news\/maga-mikes-first-act-as-speaker-cut-taxes-for-the-ultra-wealthy-and-corporate-cheats-at-the-expense-of-our-allies-and-hardworking-americans\/\",\"name\":\"MAGA Mike\u2019s First Act As Speaker: Cut Taxes for the Ultra-Wealthy and Corporate Cheats at the Expense of Our Allies and Hardworking Americans - 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