Democratic Senate candidate and current Rep. Jacky Rosen was one of only three Democrats voting with House Republicans to pass a Republican tax cut bill Friday — a bill that Rosen’s Democratic House colleague from Nevada, Dina Titus, slammed as “Tax Scam 2.0.”
In an effort to lower the anticipated impact on the deficit of the tax cuts Republicans passed in 2017, several of the tax cuts are scheduled to expire at the end of 2025.
The bill passed in the House Friday, H.R. 6760, would make those tax cuts permanent, including cuts on individual taxpayers. Democrats last year slammed Republicans for making corporate tax cuts permanent while tax cuts for individuals were only temporary.
The larger criticism of the bill from critics, however, is that it is, as some Democrats have called it, a “smash and grab” by which big business and the wealthy are enriched by hundreds of billions of dollars worth of tax cuts over several years while federal programs are on the chopping block and the federal deficit skyrockets.
One of the many provisions that would be made permanent under the bill Rosen voted for Friday is expanded deductions for so-called pass-through businesses, allowing owners of companies that don’t pay corporate income tax to further reduce their tax burden on business income. That provision has been criticized as a $17 billion giveaway to millionaires.
The bill also makes permanent generous exemptions to the estate tax, increased exemptions for the alternative minimum tax and other deductions that, according to critics, overwhelmingly favor the wealthy.
“Nevada families deserve a simpler, fairer tax code,” Rosen said in a statement:
“While I made efforts to address flaws in this legislation, it does follow through on making middle-class tax cuts permanent for Nevada’s hardworking families, which is something I’ve advocated for as part of reforming the tax code. While the Republican tax law passed last year was a massive giveaway to giant corporations and corporate CEOs, this legislation is focused on giving Nevadans permanent tax relief. We still need to revisit tax reform to bring things back into balance, close special interest loopholes, and ensure that the wealthiest Americans and big corporations are paying their fair share. I’m committed to doing what’s right for Nevada’s middle class families and will continue to reach across the aisle and work in a bipartisan manner wherever possible.”
Titus, who voted against the measure Friday, also released a statement:
“Tax Scam 2.0 is another attempt by Republicans to reward the nation’s wealthiest and largest corporations while setting working families up to pay for an increasing deficit by slashing Medicare, Medicaid, and Social Security. I have heard from constituents about problems created from the sloppy drafting of the first tax scam, but this bill addresses none of these. Instead, Republicans are creating a bigger giveaway to the wealthiest in our country and expecting middle class families to pick up the $3.2 trillion tab. This is only a thinly veiled attempt to repackage their disastrous trickle-down economics that has failed the American people.”
The Senate has not acted on the bill.