House Minority Leader Nancy Pelosi says the Republican tax plan isn’t all that it seems, expressing her frustration over a lack of collaboration between the two parties.
Speaking with CNN’s Jake Tapper on “State of the Union” Sunday morning, Pelosi said President Donald Trump and Republicans are moving too fast.
“If you’re going to do a whole revision of the tax code, it should be done in a bipartisan way. That’s the only way it will be fair, simplified, and sustainable. … They’re trying to move this in a matter of days,” she said.
Despite claims of tax cuts to middle class families, there are other factors in the tax plan to consider, Pelosi said.
“They give with one hand and take away with the other,” she said. “This thing will explode the deficit, the national debt. And one reason is they’re giving a $1.5 trillion cut to corporate America.”
Further, she claimed that the new plan will give corporations a tax advantage for making jobs overseas. And she called removing the state and local tax deduction, known as SALT, but exempting corporations, as “a gift to corporate America.”
The GOP’s proposed pitch to increase tax cuts while axing tax deductions popular with the middle class — like deductions for student loans and school supplies purchased by teachers — are a “sleight of hand,” Pelosi said, adding that “it’s a shell game. It’s a ponzi scheme.”