(SL) – Democrats say the Republican tax bill unveiled today is a tax cut for the wealthy at the hands of the middle class. In a Capitol press conference, House Democratic Leader Nancy Pelosi called the bill a Ponzi Scheme and said Americans who depend on Medicare, Medicaid, or credits for childcare would be the losers of this bill.
Senate Democratic Leader Chuck Schumer added that the bill is designed for major corporations and the wealthiest bracket of Americans to get ahead.
He said Republicans were ashamed of this bill, or they would give it the hearings and time for independent scoring that it deserved.
Meanwhile, Trump believes the plan will help make the U.S. globally competitive again. Trump met with GOP leaders at the White House today and called it a tremendous bill that will produce historic tax cuts.
He said the tax code will be greatly simplified and joked that the only people who won’t like it are those who work for H&R Block. Trump predicts that the tax cuts will stimulate more job growth and higher wages.